University of Colorado

Welcome to today's presentation about the University of Colorado Student Employee Retirement Plan, also known as the SERP For starters, you're already enrolled in the plan, and saving [\'85] retirement may seem a long way off, but the sooner you start saving, the more time your money has to grow, which can really add up by the time you do retire. That's why we've partnered with TIAA, a leading financial services firm, to provide the SERP\ 

It's our way of helping give your retirement savings a jumpstart. Participating in the SERP is required for most student employees, but there are no additional costs to you. If you meet any of these criteria, congrats! You're automatically enrolled in the SERP Keep in mind that eligibility is determined each new payroll period. Please note. Graduate students who have finished coursework and are enrolled in only one credit hour while writing a thesis or dissertation, and nonresident alien student employees with F-1 or J-1 visas are not eligible for the SERP

Math may not be your favorite subject, but you're going to want to pay attention to this part of the presentation because were about to get into how the SERP works. Every eligible Q student employee is automatically enrolled, and instead of withholding Social Security taxes, 7.5% of your earnings are deducted from your paycheck to be used as contributions for your SERP account.

This happens before taxes, which means you won't pay taxes on contributions or on the growth of the investments until you withdraw the money from your account. That's pretax contributions for our finance savvy friends. Most importantly, the money in your SERP account belongs to you. You can take it with you in the form of an IRA or a cash withdrawal when you graduate, or move on from the University of Colorado and are no longer employed with us.

There are different ways to invest your money. If that sounds intimidating, don't worry. TIAA Financial Consultants can help you choose what's best suited for your retirement goals, including talking about what retirement goals even are. One thing worth noting about the SERP is that an investment selection is required, so if you don't make a selection, you'll automatically be invested in the target date fund.

But you can transfer to a different selection at any time. Although you've been automatically enrolled, there are three important things you need to do. Make sure your contact information is current. Set up a username and password at tiaa.org/cu and select your investment option and a beneficiary. Thinking about retirement early in life is a great way to secure your financial future.

Schedule an appointment with a TIAA financial consultant online at TIAA Dawgs. Schedule now to get your questions answered, even if you think they're silly. TIAA has been our partner for 90 years, helping student employees just like you. Thank you for taking the time to learn about the SERP and the impact it can have on your future retirement. We're excited to help you learn and work toward a better tomorrow.}