Retirement – GWell

Spring Virtual Retirement Fair!

April 19, 2022April 19, 2022Employee Benefits, Retirement

You’re Invited! Virtual Retirement Fair – Thursday, April 28
On Thursday, April 28, we invite you to join us for a virtual retirement fair created specifically for GW employees.

The webinars focus on important topics to help you prepare when retirement is on your horizon, including:

Understanding the steps to take as you consider and prepare for retirement from GW.
Navigating the transition from career to retirement.
Incorporating Medicare and supplemental plans into your retirement plan.

Virtual Retirement Fair Schedule

Please use the links below to register (all times are ET). If you are unable to join us, sessions will be recorded and saved on the Benefits website.

10 a.m. – Transitioning from Career to Retirement (presented by TIAA)
11:30 a.m. – Retiring from GW (presented by GW Benefits)
1 p.m. – Understanding Medicare Supplemental Plans (presented by Via Benefits)

Listen On Demand

Maximize Social Security in Retirement (Fidelity)

Pre-tax v. Post-tax Roth 403(b) Contributions

March 11, 2022March 14, 2022Financial Wellness, Retirement

As a GW employee, you are eligible to contribute to the university’s 403(b) Retirement Plan. You may choose to contribute a percentage of your pay either pre-tax or post-tax Roth or both to your account. The main difference between the two options is when you pay taxes on those contributions:

Pre-tax contributions reduce your taxable income in the year you contribute to the Plan, but taxes are withheld when you withdraw the funds after retirement.

Post-tax Roth contributions are included in your taxable income in the year in which you contribute to the Plan, but are tax-free when you withdraw the funds after retirement.

Not sure which contribution option(s) is right for you? See resources below from Fidelity and TIAA or schedule a 1×1 appointment:

TIAA and Fidelity continue to offer remote retirement counseling appointments to assist you in navigating your retirement savings options. To sched ule, call your preferred provider or use the online booking systems:

Fidelity Investments – Make an or call 800-642-7131
TIAA – Make an appointment online or call 866-843-5640

Investment Lineup Changes in the GW Retirement Plans

June 24, 2019Retirement

The investment options in the GW retirement plans are regularly monitored by the plans’ Retirement Plan Investment Committee, with the assistance of an outside investment consultant. From time to time, the committee will make changes to the funds available through the retirement plans.

As a result of a recent review, the committee has decided to make the following changes to the retirement plans’ investment menu offered through Fidelity Investments and TIAA.

The following changes were effective on June 7, 2019:

Investment Menu Changes at Fidelity:

The Vanguard FTSE Social Index Fund Admiral (VFTAX) will be added to the plans’ fund lineup at Fidelity.
The Vanguard FTSE Social Index Fund Investor Shares will be removed from the plans’ fund lineup. All assets invested in and future contributions to the fund will be moved to the new Vanguard FTSE Social Index Fund Admiral (VFTAX).
The Fidelity® Growth & Income Portfolio – Class K will be removed from the plans’ fund lineup. All assets invested in and future contributions to the fund will be moved to the existing Vanguard Growth and Income Fund Admiral Shares (VGIAX).

Investment Menu Changes at TIAA

The American Century Mid Cap Value R6 (AMDVX) will be added to the plans’ fund lineup at TIAA.
The TIAA-CREF Mid-Cap Value Institutional will be removed from the plans’ fund lineup. All assets invested in and future contributions to the fund will be moved to the new American Century Mid Cap Value R6 (AMDVX).

Participants will have received a separate notice from your retirement provider informing you of these changes. If you previously had assets invested in the removed funds and do not wish to have elections redirected to the funds noted above, you have the option to change your investment direction by logging in to your account or contacting your retirement provider:

Fidelity Investments: netbenefits.com/gw or (800) 343-0860
TIAA: tiaa.org/gwu or (800) 842-2776

Reminder – Retirement counselors from both Fidelity and TIAA are available for free one-on-one sessions on campus, should you like to meet with them to review your GW retirement savings options and fund lineup. See https://benefits.gwu.edu/retirement-counseling for appointment booking information.