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Early retirement planning resources

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No matter where you are in your career, the best time to start planning for retirement is today! But don’t stress, we’re here to help. Take advantage of UC’s free retirement planning resources — including classes, counseling and educational materials — to make sure you’re on track for a financially secure future.

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If you’re new to UC, UC offers all eligible employees a choice between a pension benefit (Pension Choice) and a portable, 401(k)-style account (Savings Choice), with shared contributions from you and UC. So, your first step in planning for your retirement is deciding what option is right for you. Grow your retirement savings without delay by going to myUCretirement.com/choose to learn about your choices and enroll right away.

For additional opportunities to save for retirement, UC offers its Supplemental Retirement Savings Program. You can choose from pretax or after-tax plans, and invest in a wide array of high-quality, low- cost funds. You can change your contribution amount and investments at any time.

Stay committed

Putting away extra money for retirement isn’t always easy, but it can really pay off. Consider what happens when you increase your retirement savings by 1% each month (see Three paycheck moves for young investors on myUCretirement.com for more tips, and details about how these numbers were calculated):

  • For every $10,000 you earn, your pretax 1% contribution will reduce your monthly paycheck by about $6 (if you’re a single filer).
  • If you keep saving for 25 years, that 1% boost will help your savings grow by about $5,800 for every $10,000 you make.
  • If you make $50,000 annually, that means an extra $29,000 in your retirement savings – for just $30 a month out of your paycheck!

Plan for the long haul

It can take a bit of research to develop a long-term strategy that works for you. Here are a few planning resources to consider, all designed specifically for UC faculty, staff and retirees — and offered at no cost to you.

Financial education classes and webinars

Check out a class at your location or attend a webinar from your home or desk. Classes include:

  • Getting Started in the UC Retirement System
  • Women and Investing: Organize, Plan, Own Your Future
  • Create a Budget, Ditch Your Debt, and Start Building for the Future
  • Guide to Investing in the Retirement Savings Program
  • Fundamentals of Retirement Income Planning

Pathway to Retirement events

UC offers special educational events across the system to help UC faculty and staff have the financial security to enjoy all that retirement brings. Expert speakers present important topics to help you retire with confidence, including finding fulfillment in retirement, income planning, UC benefits, Social Security strategies and navigating the UC retirement process.

These events are designed for anyone thinking about retirement and how to best prepare for this significant life change; spouses and partners are encouraged to attend.

Personal retirement counseling

For one-on-one, personal help with your retirement benefits decisions, meet with a Retirement Planner by phone or in person, when and where it’s convenient for you. Just let the representative know if you need assistance in a language other than English; consultations are available in over 140 languages. Schedule online or at (800) 558-9182

UC contracts exclusively with Fidelity Investments for all financial education and guidance services through a dedicated team that is well-versed in UC retirement benefits. If you prefer to consult with your own advisor, or before you respond to financial adviser solicitations from other sources, please do your research. Unfortunately, a large number of unauthorized and misleading emails, invitations and cold calls to employees have been reported across the UC system.

Bookmark myUCretirement.com for easy access to all of this information and much more. You can choose a track (such as “recently joined UC” or “working and saving”) to see information and the next steps customized for you.

 

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