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Retirement, Welfare, & Financial Planning

OPRSA encourages all postdoctoral scholars to plan and save for retirement and other unexpected life events.  To help all scholars with financial planning, OPRSA has partnered with Curo Financial Planning to offer the Financial Education Series, which includes advice on saving for retirement.

Defined Contribution Plan (DCP)

It is mandatory for Postdoctoral Scholar-Employees (TC 3252) to participate in the Defined Contribution Plan (Safe Harbor) as long as they are employed at UC San Diego. Safe Harbor participants automatically contribute, on a pretax basis, 7.5% of their wages beginning the first day of an eligible appointment. You may also make voluntary after-tax contributions to the DC Plan.  DCP contributions are made in lieu of Social Security and can be withdrawn when UC appointment is terminated.

Find more information about the Safe Harbor DCP at:
http://ucnet.universityofcalifornia.edu/forms/pdf/retirement-savings-program-information-for-safe-harbor-participants.pdf

403(b) Tax Deferred and 457(b) Deferred Compensation Plans

Postdoctoral Scholar-Employees (TC 3252) are eligible to participate in the UC 403(b) Tax Deferred and 457(b) Deferred Compensation Plans.

Employees who want to voluntarily participate in the 403(b) Plan designate a portion of their gross salary to be contributed on a pretax basis, thus reducing the participant’s taxable income. More information is available at https://ucnet.universityofcalifornia.edu/forms/pdf/403b-summary-plan-description.pdf.

Employees who choose to participate in the 457(b) Plan designate a portion of their gross salary to be contributed on a pretax basis, thus reducing the participant’s taxable income. Taxes on contributions and any earnings are deferred (that is, postponed).  Find more information at https://ucnet.universityofcalifornia.edu/forms/pdf/457b-deferred-compensation-plan.pdf.

Both of these plans are managed by:

Fidelity Investment Services

Retirement Savings Program Accounts
Phone: 1-866-682-7787 or netBenefits.fidelity.com

Annuity and Individual Retirement Account (IRA)

Postdoctoral Scholar – Fellows (TC 3253) and Postdoctoral Scholar – Paid Direct (TC 3254) have the option to save for retirement through and Annuity or Individual Retirement Account (IRA).  More information about these options can be provided by a professional financial planner. 

OPRSA has partnered with Curo Financial Planning to offer the Financial Education Series for Postdocs to help postdocs plan for retirement.  Curo also offers a free individual consultation to any postdocs who attend one of their workshops.

Financial Education for Postdocs

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“Save early, save often” is a mantra touted by many financial planning websites and experts.  Time is critical when saving for retirement or any financial goal.  According to the U.S. Dept. of Labor, every 10 years you delay starting to save for retirement, you will need to save three times as much each month to catch up.

To help you get started and understand how to maximize your financial potential, the Office of Postdoctoral and Visiting Scholar Affairs has teamed up with Curo Financial Planning to offer the “Financial Education Series for Postdocs”. 

Each workshop will discuss the ways to set yourself up for financial success for that specific topic.  UCSD graduate students and family members of postdocs are welcome to attend.  Come join us to learn about the topics listed below and create a strategy for your financial future!

Date Topic Time & Location Registration

February 7, 2019

Tax Strategies

This workshop addresses basic practices to help individuals plan in a tax efficient manner. It includes information on record keeping, tax law changes, state and local taxes, tax credits and tax-deferred programs.

9:00 - 10:30 am

Leichtag 107

 

FinEd: Tax

April 18, 2019

Smart Money Moves in your 20s and 30s

Whether you are just out of school or ten or more years into your career, when it comes to money, there’s a lot to learn. We’ve picked ten important tips - from creating a budget to establishing an emergency fund to making the most of your savings and investments - to help you get and stay on track financially.

 

9:00 - 10:30 am

MET 145

FinEd: Smart$

June 6, 2019

Investing 101

A basic overview of investing that explains the difference between saving and investing, including asset classes and investment styles, bonds, stocks and types of mutual funds.

9:00 - 10:30 am

MET 145

FinEd: Invest101


August 1, 2019

Investing 201

For those who have attended Investing 101 or have significant investment experience, this workshop provides in-depth information on investing.  Topics covered include determining the right investments, tax implications, performance measurement, terminology, and risk management. 

9:00 - 10:30 am

MET 145

FinEd: Invest201
October 10, 2019

The Roth Advantage in your 20s and 30s

It may be hard to focus on something that is 30, 40, or more years into the future, but saving for retirement is important and Roth account may help you to achieve your goals.  In this workshop, we will discuss what makes Roth accounts so special, budgeting, the power of compounding, and tax benefits.

9:00 - 10:30 am

MET 145


FinEd: Roth

As many people are concerned about how to plan for their financial future as their careers advance, the program offers a complimentary one-on-one personal consultation.  These one-on-one consultations are a great way to get individual solutions that fit your specific financial situation. If you would like to schedule a session, time slots will be available to meet on campus the next week after each workshop.  These one hour sessions with a Financial Advisor are confidential and complimentary.  A sign-up sheet will be available at each workshop.

Most workshops will be held in Medical Education and Telemedicine (MET), Rm 145, unless otherwise indicated.

Please note that UCSD graduate students and family members of postdocs are also welcome to attend.

Dates and locations are subject to change.