University of Minnesota Retirement Plans 3 steps to enroll Decide on savings amount Complete the University’s Optional Retirement Plan Savings Agreement form to start payroll deductions. Available resource: • How will payroll adjustments affect my take-home pay? Calculator Make investment elections Complete the Securian application to select your investments and designate your beneficiary. Available resources: • Investing your retirement savings guide • Investing questionnaire • Investment fact sheets available on umnplans.securian.com Return the forms Once completed, send forms to University of Minnesota Employee Benefits department. Benefits Suite 100 Donhowe 319 15th Ave SE Minneapolis, MN 55455 WANT HELP? A Securian Plan Specialist can provide information that helps you select the investments that are right for you or assist you with completing the forms. Call 1-800-421-3334 to speak with a Plan Specialist or to schedule a personal meeting. Return forms Retirement for U OPTIONAL 403(B) PLAN ENROLLMENT Decide savings amount Make investment elections
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University of Minnesota Retirement Plans
3 steps to enrollDecide on savings amountComplete the University’s Optional Retirement Plan Savings Agreement form to start payroll deductions.
Available resource:
• How will payroll adjustments affect my take-home pay? Calculator
Make investment electionsComplete the Securian application to select your investments and designate your beneficiary.
Available resources:
• Investing your retirement savings guide
• Investing questionnaire
• Investment fact sheets available on umnplans.securian.com
Return the forms Once completed, send forms to University of Minnesota Employee Benefits department.
Benefits Suite 100 Donhowe 319 15th Ave SE Minneapolis, MN 55455
WANT HELP?A Securian Plan Specialist can provide information that helps you select the investments that are right for you or assist you with completing the forms. Call 1-800-421-3334 to speak with a Plan Specialist or to schedule a personal meeting.
Return forms
Retirement for U
OPTIONAL 403(B) PLAN ENROLLMENTDecide savings amount
Why save in the Optional 403(b) Plan? It’s automatic! You decide what percentage of your pay you want to deduct from your paycheck and the plan handles the rest.
You save on taxes. Since your savings come out before federal taxes, your taxable income is reduced.
You don’t have to be an investment expert. Your plan offers a range of diversified investment options for you to put your money in.
Put time on your side. The younger you are when you start saving, the more you can benefit from “compounding,” – money earned on previous investment earnings. Because the earnings aren’t taxed while they’re in the plan, your balance has the potential to grow faster – even if you can only save a smaller amount in the beginning.
Start now – even one year can make a differenceQuick look:
Start now (assumes age 35): Stop saving at age 65:
Savings balance: $170,029
Wait one year:
Savings balance: $157,224
This hypothetical example is for illustrative purposes only. It is not indicative of any particular investment or guarantee of future performance. Assumes $30,000 salary with a 6% contribution made annually, a 7% return net of fees and annual compounding. Projected values shown are pre-tax amounts and are subject to income taxes upon withdrawal.
This information should not be considered as tax advice. You should consult your tax advisor regarding your own tax situation.
This is a general communication for informational and educational purposes. The materials and the information are not designed, or intended, to be applicable to any person’s individual circumstances. It should not be considered investment advice, nor does it constitute a recommendation that anyone engage in (or refrain from) a particular course of action. If you are seeking investment advice or recommendations, please contact your financial professional.
SECURIAN FINANCIAL GROUP - A LOCAL COMPANY HERE TO SERVICE YOUR RETIREMENT PLAN NEEDSSince 1880, Securian Financial Group and its affiliates have provided financial security for individuals and businesses in the form of insurance, investments and retirement plans. Now one of the nation’s largest financial services providers, it is the holding company parent of a group of companies that offer a broad range of financial services. It is locally headquartered in St. Paul, Minnesota.
Personal service - Our focus is on you and helping you make the most of your U of M retirement plan benefit. In fact, Securian is the only U of M retirement plan provider that has associates dedicated exclusively to meeting the needs of current and former U of M employees. We’ll assist you with any questions or meet with you in person – free of charge.
Financial Strength - According to the four major independent ratings organizations that analyze the financial soundness of insurance companies, our affiliate, Minnesota Life Insurance Company, ranks among the most highly rated financial institutions in America. For more information about the rating agencies and on our financial strength, visit securian.com.
That’s $12,806 LESS in retirement by waiting just one year.
