M/C designated and NYSCOPBA-represented employees are now eligible to enroll in the Adoption Advantage Account portion of the Flex Spending Account (FSA) program for the 2019 plan year effective June 1, 2019. This type of FSA allows eligible state employees to set aside pre-tax deductions for expenses related to adopting a child. Newly eligible employees can enroll for the remainder of the plan year with an eligible change in status application. Please visit the FSA website, call the FSA administrator WageWorks’ customer service at 1-800-358-7202, or e-mail to learn more about this new benefit. As a reminder, as announced last year, employees represented by CSEA and UUP are also eligible to enroll in the Adoption Advantage Account with a change in status application.
Start the summer with live webinars that can help you improve your financial knowledge. Topics include:
Register at TIAA.org/webinars.
The New York State Teachers’ Retirement System will hold Pension and Retirement Education Program (PREP) seminar Monday, July 29 at the Holiday Inn Buffalo International Airport, 4600 Genesee Street, Cheektowaga, NY. The seminar will include information on NYSTRS benefits; financial planning; Social Security; estate planning; retirement: a new beginning and the retirement process. The seminar 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, and phone number.
Please 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 Summer 2019 Webinar Series. Webinars allow CSEA-represented employees the opportunity to learn from the convenience of their office or home. Webinar classes fill quickly so register as soon as possible. For further information, please contact the Partnership at 1-800-253-4332, or e-mail.
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 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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