The New York State Teachers’ Retirement System will hold its Winter/Spring 2019 Pension and Retirement Education Program (PREP) seminars on Monday, February 18, Tuesday, March 5, and Saturday, April 6 at the Holiday Inn Buffalo International Airport, 4600 Genesee Street, Cheektowaga, NY.
The seminars will include information on NYSTRS benefits; financial planning; Social Security; estate planning; retirement: a new beginning; filing for retirement; and retirement income.
The seminars will run from 8:30 a.m. to 3:30 p.m.; check-in begins at 8 a.m. PREP seminars are free, and spouses and partners may also attend, but advance registration is required. Seminars fill up quickly, so book early. Visit NYSTRS.org using your My NYSTRS account ("my tools" tab) or call 1-800-348-7298, ext. 6180, to register. When calling, you must provide your Employee ID or Social Security number, e-mail address, and phone number.
Note, seminars are not designed for one-on-one retirement counseling. Individual benefits consultations may be scheduled year-round online or by phone through NYSTRS.
The NYS & CSEA Partnership for Education and Training has announced the spring 2019 Skills for Success courses. Skills for Success courses provide CSEA-represented employees with the knowledge, skills, and tools needed to meet their personal and professional development goals. The catalog is accessible on the Partnership's website.
CSEA-represented employees are encouraged to take advantage of these valuable training opportunities. Employees may enroll through the Statewide Learning Management System or by completing the Partnership's course application form located on page 31 of the catalog.
For further information, please contact the Partnership at 1-800-253-4332, or e-mail firstname.lastname@example.org.
SUNY released its 2019 Universal Availability Notice. SUNY provides employees with the opportunity to save for their retirement through the SUNY Voluntary 403(b) Savings Plan (the “Plan”). Participation in the SUNY Voluntary Savings Plan is a great way to build your retirement savings through pre-tax and/or post-tax payroll deduction contributions. Whether you want to enroll in the plan for the first time, or you are already enrolled but wish to change the amount of your deferral, you can do so through the SUNY online enrollment and management system at www.retirementatwork.org/suny. For more information, please contact the Benefits Office at 878-4821.
Effective January 1, 2019, the Paid Family Leave program (PFL) will be implemented for SUNY MC and UUP-represented employees.
PFL provides job-protected, paid leave for eligible employees to bond with a new child, care for a loved one with a serious health condition, and assists with relieving family pressures when a loved one is called to active military service abroad.
The program is funded through contributions taken as payroll deductions. The 2019 contribution is 0.153% of gross wages each pay period, up to and not to exceed an annual maximum employee contribution of $107.97. For SUNY MC and UUP-represented employees, payroll deductions will be biweekly and begin no sooner than January 1, 2019.
For 2019, employees who are on the payroll and have met eligibility requirements will be able to use ten weeks of Paid Family Leave benefits, and will receive 55% of their average weekly wage, capped at 55% of the statewide average weekly wage.
For more information about Paid Family Leave, please visit https://www.ny.gov/paidfamilyleave.
Effective September 4, 2018, a Roth option (after tax) will be added to the 403(b) Voluntary Savings Plan.
The new Roth option will give you the opportunity for a payroll deduction on an after-tax basis with the potential to withdraw earnings on a tax-free basis in retirement. More information is available on the SUNY Benefits website at www.SUNY.edu/Benefits or you can pick up an informational flyer in the Benefits Office, Cleveland Hall 410.
Highlights of the Roth 403(b):
To enroll or make changes to your current account go to www.retirementatwork.org/suny. If you would like to meet with a financial advisor, you can find our campus representatives at hr.buffalostate.edu/orp-one-one-consultations.
Employees enrolled in the SUNY Optional Retirement Program (ORP) and/or the SUNY 403(b) Voluntary Savings Program utilize a retirement and voluntary savings enrollment and management system called Retirement@Work. The easy-to-navigate online system is used to enroll in retirement for those who are not currently enrolled in a retirement plan and to enroll in the SUNY 403(b) Voluntary Savings Program, also called the Tax-Deferred Annuity (TDA). Employees can manage their TDA contributions and designate investment providers for the TDA. Current participants in the SUNY ORP will be able to designate investment providers and have access to learn about plan benefits in a central place. For more information, visit hr.buffalostate.edu/tax-deferred-annuities-and-college-savings-program.
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