- October 2009 > Retirement Corner
When it comes to saving for retirement, there is never a better time than today to assess your prospects toward meeting your goals. And with our nation’s leaders declaring Oct. 18 through Oct. 24 as National Save for Retirement Week, you have a great opportunity.
Many experts predict that you will need from 80 to 100 percent of your pre-retirement income to maintain your lifestyle after retirement. As an employee of the University of Texas System, you already participate in either the Teacher Retirement System or Optional Retirement Program, which when combined with Social Security benefits will provide you with a foundation once you enter retirement. However, you will need to add your own retirement savings in order fill the gap between that retirement foundation and your actual needs. That is where the UTSaver 403(b) Tax Sheltered Annuity (TSA) and the UTSaver 457(b) Deferred Compensation Plan (DCP) can make the difference.
Trying to figure out just how to save for retirement?
Small steps to save money can quickly add up to thousands of dollars a year that could go into a tax-deferred savings account dedicated to making sure you live the kind of retirement you deserve.
So make sure to mark this National Save for Retirement Week by saving now - your retirement future starts today.
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UT System Employee Benefits Web site: www.utsystem.edu/benefits/
UT System Retirement Programs Web site: www.utretirement.utsystem.edu
Your Local Benefits Office: www.utsystem.edu/benefits/contacts/#1