RETIREMENT PLANNING FOR UNIVERSITY OF NEBRASKA FACULTY & EMPLOYEES
The place for information on the changes of the University of Nebraska's retirement plan..... (But you need to Stay Up to Date. Click below.)
Topics Covered:
Overview of University of Nebraska's Plans
How to analyze the In-Plan ROTH Conversion
What to know about the Brokerage Account
Planning Topics:
Calculating your Net Worth
Debt Management/Credit Score monitoring
Tax Planning with your Retirement accounts
Social Security strategies
The University of Nebraska is making a big change to your investment options on November 7th. No longer will you have a long list of TIAA or Fidelity investment categories, classes, and choices. Your balances in your plan will be transferred to a Vanguard Target Dated Fund selected by your age.
If you want more info on how a Target Dated Fund works, click the button below to fill out our assessment to get our white paper.
Vanguard Target Date Funds
Your Target Dated Fund will be selected based upon your age when you turn 65.
or
You could open a Self Directed Brokerage Account and make your own investment decisions.
UPDATE: The picture below looks like you can buy really any type of investment. However, in the latest University update, it was stated the Self Directed Brokerage account only allows for mutual funds not individual stocks or ETFs. Be sure you understand the various share classes and what you are investing in.
WHAT ARE YOU GOING TO DO?
1) Do Almost Nothing
Your current investment funds and all new contributions will be automatically invested in a Target Dated Fund chosen for you by your birth date. Focus on knowing your finances. If you want more info on how a Target Dated Fund works, fill out our assessment to get our report - The Prius of Retirement Investments.
2) Do Something
Opt out of the default Target Dated Fund option and select what percent of your investments should be in one of the various 4 Core Funds. Just don’t set it and forget it though. You will be navigating this portfolio through your own life up’s and down’s as well as the markets.
3) Do More
Open a self directed brokerage account with Fidelity (or TIAA). You now have complete control of what you want to invest in through various mutual funds on the platform.
4) Do More With Help
Engage the services of a Fiduciary Advisor for investment and planning needs. By having the self directed brokerage option, an employee can select an advisor to create a custom financial plan for your benefit. The advisor can then manage the investment assets of your retirement plan as well as other accounts to achieve your financial goals.