February > Retirement Corner
A Simple New Year’s Resolution
On January 1st, most wage earners received an increase in their net checks, thanks to the recently passed tax package. That's because the amount you usually contribute to the Social Security system, 6.2% of your first $106,800 of wages, was reduced to 4.2% for 2011. For some employees, savings could be as much as $2,136 over the course of the year.
What to do with that extra money? Do something for you—consider placing the difference in your UTSaver 403(b) Tax Sheltered Annuity or UTSaver 457(b) Deferred Compensation Program. Even if your increase is only $20 a month, by placing that amount in as UTSaver account, with 6% average returns, that $20.00 could grow to $9,112.92 in twenty years, or $19,585.13 in 30 years.
Just imagine what $50 a month could do, or even a $100.
To learn more about how to enroll in a UTSaver retirement program, please visit our website at: www.utretirement.utsystem.edu.
New UT Retirement Manager Logon Page
Beginning January 10, 2011, UT Retirement Manager was redesigned to enhance user security.
New users (or employees who have never logged in to UT Retirement Manager) must click “I’m a New User” below the User ID box to create a new User ID and to customize security questions and images.
Existing users who have been using the website should continue to use their existing password and login. No action needs to be taken by current users at this time. In coming months further changes will enhance the user’s experience with UT Retirement Manager, making it easier to enroll online for the UTSaver Retirement Programs.
To learn more about navigating through the new design, please visit http://www.utretirement.utsystem.edu/enroll.htm.