Want to know if your financial plans are on target? UC is here to help you find answers.
Here's how you can give your retirement savings a tune-up.
1. SEE IF YOU’RE ON TARGET
If you haven’t thought about your retirement savings lately, your first step is to view your most recent Retirement Review. You’ll get a personalized estimate of how much you are on target to receive in retirement from your UC benefits, and compare it to how much you may need in retirement income. (Login required.)
2. CONSIDER CONTRIBUTING 1% MORE TO YOUR RETIREMENT SAVINGS ACCOUNTS
Your UC primary retirement benefits may not provide all the income you need in retirement— particularly if you are joining UC late in life or you think you’ll work for other employers during your career. Consider increasing your UC 403(b) or 457(b) contributions by 1%. Even small increases can have a powerful impact on your retirement income. (Login required.)
3. UPDATE YOUR PROFILE AND BENEFICIARIES
Make sure your UC Retirement Savings Program information is up to date and security features are enabled. While you’re there, name beneficiaries for your UC 403(b), 457(b) and/or DC Plan accounts. These accounts can pass directly to named beneficiaries, but you have to designate them first. (Login required.)
4. CHECK WHERE YOU’RE INVESTED
If you haven’t looked at the funds in your UC 403(b), 457(b) and/or DC Plan in a while, you may want to confirm that your investment choices still align to your long-term goals. If this isn’t something you have the skill, and time to do on a regular basis, consider an all-in-one UC Pathway Fund.
5. IT’S OKAY TO ASK FOR DIRECTIONS
Every question is a good question, no matter how basic you may think it is. Even if you don’t know what question to start with, one-on-one help is available. You can talk to your UC location’s dedicated workplace financial consultant by phone or video.