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Decision Making Myths and Tips

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In both work and life in general, there is often no “right” decision. We’re often faced with an abundance of options, which doesn’t make the act of decision making any easier. Whether you’re someone who experiences decision paralysis, someone who makes rash decisions you come to regret, or fall anywhere in between, you will likely benefit from simplifying decision making with a balanced combination of intuition and critical thinking.

Types of Decision Making

Decisions should, ideally, come from a clear understanding of your needs, values and goals. When you’re in a familiar situation, do you find your decisions are fast and automatic? This is likely based on your established experience with what works and what doesn’t. However, when you encounter a new situation, you may find you need more time to weigh potential benefits and risks. Knowing various approaches to decision making can help you determine what’s best for your unique circumstances.

Informed Decision Making

The ability to think critically is key to making good decisions free from common errors or bias. Informed decision making means not just listening to your intuition or “going with your gut,” but rather figuring out what knowledge you lack and obtaining it. When you look at all possible sources of information with an open mind, you can make an informed decision based on both facts and intuition.

Satisficing vs. Maximizing Decision Making

A satisficing approach to making decisions involves settling for a “good enough” outcome, even if it’s flawed. Alternatively, a maximizing approach waits for conditions to be as perfect as possible to minimize potential risks. People who make good decisions know when it’s important to act immediately, and when there’s time to wait and gather more facts before making a choice.

Decision-Making Styles

If you find you’re feeling stuck when faced with the need to make a decision, consider the decision-making styles below. Examine these factors and think about how they relate to your potential decision.

StyleBehaviorWhen to useDo not use when
AuthoritativeYou make a decision and announce it to relevant parties.Time is short.

As decision maker, you have all the knowledge needed.		You need buy-in from others.
Consultative (group or individual)You gather input from individuals or a group, and then decide.As decision maker, you do not have all the knowledge or insight needed.

The issue is important to a group/team.		Others really don’t have a say in the decision (as decision maker, you may have privileged information).
MajorityYou reach a decision along with a group; everyone understands the decision, and the majority of people are willing to implement.It is a relatively trivial matter or low-stakes decision.The decision affects everyone in a meaningful way.
ConsensusYou reach a decision along with a group; everyone understands the decision, and everyone is willing to implement.The decision will impact everyone, and all need to fully buy in.

There is potential value in the team discussing or working together on the decision.		Time is short.
DelegateYou delegate the decision to an individual or a team, with constraints you have set.The delegate has all the necessary skills, or there is a coach or mentor available to assist.It is a high-risk or high-profile decision.

Decision Making Myths

Making decisions can be stressful, and it’s easy to fall into falsehoods about decision making to avoid putting in the sometimes difficult effort to make the best choice. Consider some common myths related to decision making and think of ways to avoid these traps.

Myth #1: I just need to solve this problem at this moment; I don’t have time to dedicate to this decision.

Putting off a decision is a decision in and of itself. However, intentionally slowing down a bit to be clear about what you’re solving will speed up your efficacy. Put in the quality time now to avoid having to revisit a decision later that you may come to regret. Our problems sit in a context. If your focus is too narrow, or your process is too rushed, you may solve the wrong problem, or only partially solve the problem.

Myth #2: This is my decision alone; I don’t need to involve others.

Most important decisions involve other stakeholders. Avoiding this bigger picture of who else is affected by a decision can, at best, only partially solve the problem, and may unintentionally exacerbate it.  Be mindful that, when many people are involved in making a decision, the process can become stalled by groupthink, when well-intentioned individuals make poor or irrational choices out of a desire to conform or avoid dissent. Ensure any involved individuals feel safe and confident expressing doubts and concerns.

Myth #3: Decision making is a linear process.

Good decision making is circular, requiring a feedback loop as information is gathered and analyzed over time. Don’t be surprised if you need to go back to find additional information or adjust your decisions.

When faced with difficult decisions, take the time to ensure your choices are based on what’s actually happening and not simply reflective of learned patterns of behavior that may no longer be useful. Carefully weigh any potential issues, commit to a decision, and then follow through. Interested in further advancing your decision-making skills and knowledge? Check out the elevateU resources below to get started.

ELEVATEU RESOURCES

Collected Resources: Decision Making and Problem Solving (Courses, Short Videos, Audiobooks, eBooks)

Choosing and Using the Best Solution (25-minute course)

Defining Alternative Solutions to a Problem (24-minute course)

Leading Through Problem Solving and Decision Making (48-minute course)

Sources

Psychology Today. Decision-Making. Retrieved May 9, 2022, from https://www.psychologytoday.com/us/basics/decision-making.

Skillsoft Ireland Limited. Choosing and Using the Best Solution. Retrieved May 9, 2022, from https://elevateu.skillport.com/skillportfe/main.action?path=summary/COURSES/apd_15_a03_bs_enus.

Strauss Einhorn, Cheryl, 2021, April 20. 11 Myths About Decision-Making. Harvard Business Review blog post. Retrieved April 28, 2022, from https://hbr.org/2021/04/11-myths-about-decision-making.

Job of the Week: Kellogg Center Event Manager

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This week’s featured job is a Kellogg Center Event Manager for the Culinary Services Kellogg Operations Department (job posting 943954). Serving as a “front door to the university,” the Kellogg Center profoundly impacts the greater MSU community, offering unrivaled customer service, an award-winning restaurant, experiential training for hospitality students, and flexible space to host an array of functions.

In this position, you will manage and coordinate events for Kellogg Center and Kellogg Catering at the hotel and other campus locations, including Spartan Stadium Tower, Breslin Student Events Center, and Munn Ice Arena. This includes overseeing food service and set-up duties for all events to ensure high-quality service to all guests, as well as management of event staff and details with the kitchen to secure proper timing and smooth events. Other responsibilities include overseeing the planning, development, and implementation of training programs for event staff, forecasting and making recommendations for departmental strategic planning, and managing food and beverage supplies, equipment and labor costs. 

The ideal candidate for this position will have a Bachelor’s degree in Hospitality Business, General Business, or a related field. One to three years of related work experience in banquet/catering services and special events is also required. Previous experience managing events in a hotel or catering setting as well as experience driving a box truck is desired, but not required to apply.
To learn more, visit the Kellogg Center website. To apply for the position, please submit a resume and three references to the MSU Careers website.

A monarch butterfly that is sitting on a flower. More flowers can be seen in the background.

May Events Round-up

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Are you looking for activities for you and your family in the upcoming month? There are events (in-person and virtual) on campus and in the Greater Lansing community. Many events require registration, so be sure to click the links to learn more.

Campus Events

May 5 – Museum Tour: Deep Rooted with Beal Botanical Gardens: What can art tell us about the relationship between plants and humans? Join Maeve Bassett, Applied Ethnobotanist and Education Program Director of the Beal Botanical Garden, for an immersive tour unearthing the historical, social, and political narratives growing within works of art from the MSU Broad Art Museum collection. Registration for this free tour is encouraged.

May 5 – Piano Monster: In this family-friendly event, four grand pianos share the stage, commanded by multiple pianists whose medley of classical selections highlights multi-artist combinations, including piano four-hands. This year’s program will feature the classic children’s fairytale, Peter and the Wolf, by Sergei Prokofiev, part of an unforgettable musical experience at the Fairchild Theatre. Purchase tickets for this event.. 

May 18 and 19 – MSU Annual Arts and Crafts Show: The Annual MSU Arts and Crafts Show is a seasonal tradition and beloved community event. The Winter and Spring Arts and Crafts Shows are fundraisers for the University Activities Board (UAB). 

Family-Friendly Events

May 4 – Family Day: WEAVE: First Saturday means Family Day at the MSU Broad Art Museum! Make creative connections with our exhibitions through free hands-on and interactive family fun throughout the museum. Join us as we explore many ways you can create art through weaving. No glue, paint, or paper needed!

May 12 – Mother’s Day: Moms Get in Free at the W.K. Kellogg Bird Sanctuary: Celebrate Mother’s Day with a visit to the Kellogg Bird Sanctuary! Moms get in FREE today!

The Storybook Walk title for May is “Birdsong,” by Julie Flett. Pages from the book will be located along the accessible, ¾-mile Paved Path to read while you walk.

May 17 – Open House with the Ohio State University BUGMobile: The MSU Bug House and the OSU BUGMobile will hold a joint outreach event at the MSU Bug House as part of the Excellence in Insect Science Symposium from 3-5 PM. All are welcome to this free event!

May 18 – Potter Park Zoo Diversity Day: Discover the richness of our community at Diversity Day! Included with general admission, this special event celebrates the diversity of our community. Join us at the zoo for a unique experience featuring local food establishments and service organizations showcasing the best of what they have to offer. Explore the zoo grounds after grabbing a delicious dish from a local food truck vendor in the parking lot. Diversity Day is not just an event; it’s an opportunity to learn, appreciate, and celebrate the unique flavors and services that make our community thrive!

May 18 and 19 – East Lansing Art Festival: Celebrate the 61st year of the East Lansing Art Festival in Downtown East Lansing. Over 180 jury-selected artists from across the state and country be on display. In addition, there will be a full line-up of performers on both days of the festival and an artist demonstration area that will be full of interactive and learning experiences from many different types of artists.

May 24-26 – Cristo Rey Fiesta: Come celebrate Hispanic culture at the annual Cristo Rey Fiesta on Memorial Day weekend and boasting authentic Mexican food, vendors, bands and dance troupes!

May 28 and 29- Bluey’s Big Play: Bluey’s Big Play is a brand-new theatrical adaptation of the Emmy® award-winning children’s television series. Tickets are available on the Wharton Center website. 

Learning Opportunities

May 7 and 8 – Building Awareness and Understanding Using the Intercultural COnflict Style Inventory (ICS): The ability to recognize and effectively respond to cultural differences in communication and conflict styles is critically important. Join a group of your peers in attending this workshop to increase cultural self-understanding of communication and conflict resolution approach, cultural other-understanding of diverse approaches used to communicate ideas and resolve conflict to more accurately interpret the statements and actions of the other party. Registration through the EBS Portal is required for this course.

May 15 – Family Employee Resource Group: Alternative Schooling Options- Homeschooling, Online Schooling, and Charter Schools: Are you considering alternative schooling options for your child outside of the K-12 public school system? Join the WorkLife Office as we present Alternative Schooling Options to help provide resources and information in this area. Registration is required for this webinar.

May 21 – Strengths-Based Leadership: Your top strengths — the things you naturally do best — can help you manage more effectively, meet your goals, and improve your team’s success. Registration is required for this online course. 

May 30 – Empowering Women Through Financial Literacy: The Women’s Networking Association welcomes you to join for a presentation by April Clobes, President and CEO of MSUFCU on “Empowering Women Through Financial Literacy.” Register for the in-person event here. 

Health & Wellness

May 6 – The Healing Power of Guided Imagery: Guided Imagery has been shown to alleviate pain, reduce depression, and boost the immune system. Join Jessie Byelich, EAP Counselor, at Abrams Planetarium to learn more. Registration for this free course is required. 

May 15 – Wellness Wednesday: Eating Invasives: Turn an ecological problem into a culinary solution with the Beal Botanical Garden and MSU Museum! This is a free program, but please register in advance for planning purposes.

Starts May 12 – Eastern Ingham Farmers Market: The Market will happen every Sunday from 10-2 at McCormick Park in Williamston, Michigan. The Market will have a variety of vendors including produce, locally raised meats, baked goods, and many items made by local artisans.

Job of the Week: Communications Manager for IPF

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This week’s featured job is a Communications Manager for Infrastructure Planning and Facilities (IPF)  (job posting 940897). IPF builds, maintains, and beautifies MSU’s physical campus environment in support of the university’s education, research, and outreach missions. 

In this position, you will collaborate with team members to plan internal and external strategic communication strategies and tactics related to key initiatives and priorities. You will be responsible for designing, creating, editing, and adapting content while coordinating multimedia components for integrated communication efforts. These could include photography, videography, graphic design, and script writing. You will engage in strategic storytelling through feature writing and article development and manage social media content. 

This is a pool posting for two positions that will require working on campus regularly 2 -3 days per week minimum. It is not fully remote.

Required qualifications for this position include completing a four-year college degree program in journalism, communications, or public relations and one to three years of related and progressively more responsible or expansive work experience. 

IPF desires a candidate with experience using Adobe Creative Cloud (InDesign, Illustrator, Photoshop, Premier), website content management systems, and SharePoint. You must have the ability to multi-task with frequent interruptions and re-prioritize work when needed.

To learn more, visit the Infrastructure Planning and Facilities website. To apply for the position, please submit a cover letter, resume, and examples of written and visual communications work to the MSU Careers website by May 7.

Earth Day at MSU

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Earth Day is April 22– there are plenty of ways to celebrate our planet’s special day. While green initiatives such as recycling are a part of our daily routines, take Earth Day as an opportunity to promote living an earth-conscious lifestyle year-round. Whether you work from home or you are heading into the office, use these tips and resources to go green: 

Use the MSU Recycling Center: The MSU Recycling Center always leads the charge for reusable materials at MSU. The center is open seven days a week for dropping off materials. These materials can be anything and everything from books, cardboard, glass, plastics, and more! Find their hours along with what and how to drop things off at the MSU Recycling Center website. 

Join the Waste Warriors: The Surplus Store & Recycling Center’s Waste Warriors program cultivates waste reduction and the utilization of waste as a resource by training and empowering the MSU community to promote these practices among their peers. By becoming a Waste Warrior, you join a group of like-minded staff and faculty from across campus who each pledge to be part of the solution that will lead MSU down the path to zero waste.

Shop at the MSU Surplus Store: The MSU Surplus Store and Recycling Center rethinks the way the MSU Community disposes of its used materials. Our innovative program allows us to reduce the amount of university material that goes to the landfill, keeping MSU green. Shop from a variety of items, including books, electronics, furniture, office equipment, vehicles, and more.

Join MSU Arbor Day: Can’t make it to campus Earth Day festivities? Join Beal Botanical Garden and IPF Landscape Services as they celebrate Arbor Day and the 150th Anniversary of the Campus Arboretum! Adopt a tree to take home and plant, learn about MSU sustainability resources, and help us plant 150 trees and shrubs along the Red Cedar River. Each planting volunteer will receive a special gift! Meet at The Rock from 11:00-2:00 PM on April 26.

Pack Up, Pitch In: The Student Life and Engagement Sustainability Office is looking for volunteers to help with collecting and packing non-perishable foods from the residence halls during finals week (April 22-26). These efforts will directly benefit the MSU Food Bank, MSU Safe Place, and the sustainability of the MSU community. 

Experience Wellbeing in the Garden: Rest and relax in the Beal Botanical Garden while enjoying nature during the week of April 22. Activities such as guided journaling and plant explorations will be available for all attendees. 

Volunteer at the Beal Botanical Garden: Volunteer opportunities with the Beal Botanical Garden and Campus Arboretum span far beyond Earth Day. Explore gardening, training opportunities, and ambassadorships to help benefit the campus and our Earth. 

Use MSU Bikes on Campus: MSU Bikes provides support with commuter resources to help you bike to work with confidence, including a 1-on-1 Bike Commuter Assistance service which helps you find the safest, lowest-stress route to and from campus to your neighborhood. MSU Bikes also rents bikes to departments for staff to use during the work day with their Department Fleet Services.

Limit Car Use: While there is no getting around long commutes, take any opportunity to walk, and use MSU Bikes, or  CATA buses to limit emissions from your vehicle. No destination in mind? Explore these campus walking maps to find your new favorite trail!

While Earth Day is just one day out of the year, it can serve as the perfect opportunity to jumpstart your sustainability efforts and connection with our planet. Making your pledge to the planet will benefit you and our Earth greatly. Go Green!

Job of the Week: Intercollegiate Athletics Assistant Director of Production

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This week’s featured job is an Assistant Director of Production for the Department of Intercollegiate Athletics (job posting 941448). The Department of Intercollegiate Athletics works with MSU’s 23 intercollegiate teams, as well as club and intramural sports.

In this position, you will lead cinematography and serve as one of the primary feature producers for the EMMY award-winning docu-series ‘Spartans All-Access.’ In addition, you will collaborate with Spartan Vision producers to create engaging content for the Michigan State Athletic Department’s social media accounts and marketing initiatives. This includes producing, filming, and editing features for Spartans All-Access online. Other responsibilities include editing recaps, highlights, and player features, as well as defining color standards for Spartan Vision’s post-production workflow. 

You will assist producers in creating content for Michigan State Athletics’ various entities and provide insight to advance the department with emerging trends in social, digital media, and in-venue entertainment. In this role, you will fill network, local, and internal footage requests while meeting quick turnarounds to post high-quality videos the same day as athletic events. Consistency in brand guidelines and messaging related to all content produced is required. There will also be team/production-related travel involved.

The ideal candidate for this position will have a Bachelor’s degree in Television Production or Telecommunications. Three to five years of related work experience in studio and remote television production, editing, and the use of television equipment is required. Experience with long-format documentary production, 360/VR, and a Part 107 license is desired, but not required to apply. 

To learn more, visit the Department of Intercollegiate Athletics website. To apply for the position, please submit a resume, cover letter, and portfolio to the MSU Careers website.

Campus Resources to Help Reduce Stress

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April is Stress Awareness Month! Daily stress has the ability to take an enormous toll on our mental/physical health. Managing our stress levels is essential to maintaining a healthy lifestyle and well-being. MSU has a multitude of different resources to help reduce your stress:

Activities

  • Campus Meditation Map: Beal Scholar, Anhad Viswananth, created this incredible meditation map to highlight the best spots to meditate around campus. 
  • Live Music and Connection: University Health and Wellbeing invites you to join them on April 25, 26, and 28 from 11:30 a.m. – 1 p.m. to take a break, connect with the community, and enjoy time in the beautiful spaces across MSU. Bring your lunch, relax with colleagues, and enjoy live music from local artists.
  • Staying Active: Watch your stress dissolve as you become more active this spring. Warmer weather is on its way and it’s the perfect time to get outside and run, kayak, walk, or swim. Join a biking group in the Greater Lansing area or an MSU Recreation group fitness class to stay motivated. 
  • Walking at MSU: There are many things to see and do on MSU’s 2,100 acre campus. Follow these various MSU campus walking tours to make the most of our beautiful campus. 

Learning Resources

  • Taking Time Away from Work: Taking time away from work, in the forms of breaks, vacation time, or strengthening boundaries around employees’ workdays, is important. View these resources to learn more about balancing your time and work schedule. 
  • The Importance of Decluttering: Check out this article from the WorkLife Office to learn more about how mess causes stress and the importance of decluttering your space and mind. 
  • Stress Reduction: MSU Health4U has plenty of resources to help you reduce your stress levels. Learn more in their Stress Reduction series of articles. 
  • Employee Assistance Program: The Employee Assistance Program (EAP) is a confidential short-term counseling and referral service provided at no cost to MSU faculty, staff, graduate assistants, retirees, and their insurance-eligible dependents who are located within the state of Michigan. Classes and resources to help reduce stress are updated on the EAP website often.
  • Avoiding Burnout: This article will help you learn how to avoid burnout and what to do if you’re experiencing it.

Stress can look different for each individual so be sure to take care of yourself using these resources and beyond. Have another resource you’d like to add to the list? Let us know in the comments!

Job of the Week: Web Content Manager

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This week’s featured job is a Web Content Manager for the Eli Broad College of Business (job posting 939708). The Eli Broad College of Business works to create and disseminate knowledge through collaboration and develop global transformational leaders who positively impact organizations and society. 

In this position, you will oversee projects and platforms that allow the college to communicate via its website and related digital mediums. This position plays a key role in creating and maintaining the college’s digital strategy, balancing the maintenance of existing digital communication platforms while improving the user experience and anticipating future needs. You will also maintain vendor relationships, provide project management, assist in creating appropriate processes and workflows, ensure compliance with university accessibility and branding standards, provide documentation and training needs, and ensure support and customer service are available to platform users. 

You will collaborate with college leadership, marketing and communications staff, and key stakeholders to align actions with MSU and Broad College’s vision and mission. You will regularly review the college’s digital presence and recommend viable best practices to ensure a positive user experience. You will assist with planning and anticipating budget requirements for web platforms and services. You will also attend related MSU meetings such as Web Dev CAFÉ, University Communicators Network (UCN), Digital Accessibility Liaisons, etc. 

You will maintain and enhance digital platforms including WordPress, by identifying needs and working with vendors to meet those needs. You will maintain a relationship with Squiz and ensure proper configuration and use of Funnelback search. You will ensure compliance with MSU branding standards via collaboration with University Communications. You will ensure appropriate infrastructure and metrics are in place for monitoring effectiveness of digital efforts including use of Google Analytics. 

You will manage the website creation process, responding to needs for new websites and web-based resources while enforcing website and content lifecycles, archiving content and websites that are no longer needed. You will manage email lists for newsletters and send them via iModules (Broad Weekly, alumni newsletter, etc). You will also manage product task backlogs and prioritize processing them. 

The ideal candidate will have a Bachelor’s in Computer Science or a related field and three to five years of related work experience. Desired qualifications also include demonstrated experience with content management systems such as WordPress, Imodules, Mailchimp, or other email CRM systems, Google Ad Words and Analytics. Excellent copyediting and proofreading skills with knowledge of AP style is desired. 

To learn more, visit the Eli Broad College of Business website. To apply for the position, please submit a resume, cover letter, and three professional references to the MSU Careers website by April 23, 2024. 

woman reviewing paperwork with a calculator.

5 Financial Goals to Consider with Help from Fidelity and TIAA

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As a benefits-eligible employee, you may be aware of the generous retirement savings programs and resources MSU offers to help set you up for a successful retirement. However, MSU’s retirement plan vendors, Fidelity and TIAA, can help you with more than just retirement planning. Whatever your financial goals may be – such as funding a big purchase, paying down debt, or creating a sustainable budget – Fidelity and TIAA can help you create a plan to achieve them.

Fidelity and TIAA are financial professionals who can provide strategies and advice to help you take charge of your finances. Review the goals below and then reach out to your vendor using the following contact information.

Everyone can benefit from having a clear financial plan. Yet, many people need clarity on their goals or the strategies necessary to make them happen. If you’re not sure where to start, the following financial goals with resources from TIAA and Fidelity are recommended for all individuals at any stage of life:

  1. Create a Budget: Many people only have a vague understanding of their spending habits or financial situation. Between trying to comprehend financial jargon, figuring out your money goals, and understanding how to balance debt, saving, and investing, it’s no wonder people often choose to bury their heads in the sand. Luckily, Fidelity and TIAA have tools, resources, and advice to help us make a plan and stay on track.
    More Information:
  2. Build an Emergency Fund: Setting aside money for an emergency – such as unemployment, surprise medical or vet bills, or unplanned home repairs – is a key element of basic financial planning and often the first step advisors will recommend. According to TIAA, “it’s good to maintain an emergency fund that would cover three to six months of living expenses” (Waltenberger, 2024). These living expenses include the things you absolutely must pay for each month, such as food, housing, utilities, child care, health care, transportation, debt payments, or similar.

    The latest report released by the Federal Reserve found that 37% of adults would not be able to afford a $400 emergency expense (2022, Federal Reserve), which means they would have to use credit cards, personal loans, early retirement withdrawals, or ask family/friends for assistance. Saving towards an emergency fund – even if it’s only a small amount each month – can help you build a safety net that can keep you out of debt.
    More Information:
  3. Pay Down Debt: The average American owes $104,215 in debt across mortgage loans, home equity lines of credit, student loans, auto loans, credit cards, and personal loans (Experian, 2024). While it’s important to note that having debt isn’t necessarily bad – a mortgage loan, for instance, can help you build wealth and eventually own a home – having too much debt or high-interest debt can lead to serious financial stress. Fidelity clarifies, “Good debt is generally considered any debt that may help you increase your net worth or generate future income. Importantly, it typically has a low interest or annual percentage rate (APR), which experts say is normally under 6%” (Fidelity, 2023).

    If you’re only able to make the minimum payment on your credit card, have trouble paying your monthly bills, or have debt payments that are more than 35% of your gross income, you may need help managing your debt (TIAA, 2024). Luckily, TIAA and Fidelity have actionable steps to help you move in the right direction. Review the resources below for advice on managing debt and reach out to your vendor directly to receive personal financial advice.
    More Information:
  4. Maximize Your Retirement Investment: Most benefit-eligible employees1 are enrolled in the 403(b) Base Retirement Program, which consists of a 5% employee contribution of your eligible compensation and a generous university matching contribution of 10%. That’s an immediate two-for-one match of your investment for a total contribution of 15%. While this provides a great foundation for your retirement savings, you may eventually want to consider additional options. It’s important to note the IRS places limits on how much employees can contribute to their retirement savings accounts each year. However, many people may discover there is a lot of room before their current contributions reach that limit. Fidelity and TIAA can help you determine what your retirement contributions should be to help you reach your personal retirement goals – whether that date is 30 years in the future or just around the corner.
    More Information:




  5. Plan Your Estate: According to TIAA, “Pondering your incapacity or mortality, and what might happen to your loved ones when you are no longer with them, can be tough to face. It’s what keeps most people from starting the estate planning process” (TIAA, 2024). Despite the challenging nature of the topic, creating a solid plan can give you and your family peace of mind and the confidence that your wishes will be carried out as desired.
    More Information:

Questions? We encourage you to reach out to Fidelity (800-642-7131) or TIAA (800-732-8353) with your financial or retirement planning questions.

1 Certain types of employees are excluded to participate in the 403(b) Retirement Plan. Please see the 403(b) Base Retirement Program Eligibility Chart for more detail. 

Sources:

Five Essential Estate planning questions to ask. TIAA. (n.d.-a). https://www.tiaa.org/public/learn/retirement-planning-and-beyond/important-estate-planning-questions

Good debt vs bad debt. Fidelity. (2023, October 9). https://www.fidelity.com/learning-center/smart-money/good-debt-vs-bad-debt Horymski, C. (2024, March 22). Experian study: Average U.S. consumer debt and statistics. Experian. https://www.experian.com/blogs/ask-experian/research/consumer-debt-study/

How to make a financial plan. Fidelity. (2024, February 21). https://www.fidelity.com/learning-center/wealth-management-insights/how-to-make-a-financial-plan-video

 Report on the economic well-being of U.S. households in 2022 – May 2023. Board of Governors of the Federal Reserve System. (2023, May 22). https://www.federalreserve.gov/publications/2023-economic-well-being-of-us-households-in-2022-executive-summary.htm

Tips for managing and reducing your debt. TIAA. (n.d.). https://www.tiaa.org/public/learn/personal-finance-101/debt-consolidation

Waltenberger, A. (n.d.). 5 must-have financial goals. TIAA. https://www.tiaa.org/public/learn/personal-finance-101/5-must-have-financial-goals

Job of the Week: Student Life and Engagement Chief Financial Officer

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This week’s featured job is a Chief Financial Officer for the Division of Student Life and Engagement (job posting 938618). Comprised of the office of the senior vice president and six departments, Student Life and Engagement (SLE) touches nearly every aspect of the Michigan State University campus by providing support and services to MSU students, the campus community, and guests.

The SLE Chief Financial Officer will provide oversight for budgeting, general accounting, and financial reporting for the Division of Student Life and Engagement while assuring financial internal controls are in place to ensure adherence with GAAP and compliance with all applicable federal, state, and university policies and procedures. This will include oversight of the two BFS units responsible for operational and financial analysis. You will participate in strategic and organizational planning, including formulation of goals and objectives for the division, as well as making recommendations for major business decisions. In this role, you will establish, monitor, and enforce internal controls for multiple business operations with a $272 million dollar budget.

You will be responsible for the planning and maintenance of all financial reserves and will plan, review, direct, and advise division financial liquidity and cash flow requirements. You will also participate in the annual room and board rate setting and approval with MSU Administration and the Board of Trustees. 

In this position, you will be responsible for developing, overseeing, and maintaining appropriate internal controls and conducting process reviews as needed as well as assisting with all staff development. You will interact with management throughout SLE and MSU and explain policies/answer questions pertaining to divisional finances. You will also interact with the Board of Trustees and may be asked to represent SLE at Board meetings. You will oversee third level management in a large, centralized unit and aid units throughout SLE as it relates to financial analysis. 

The ideal candidate will have a master’s degree in business, accounting, or a related field, along with three to five years of related experience in education, government, or industry experience in planning, finance, budgeting processes, and budget development/analysis of audit/financial compliance standards. Desired qualifications also include certifications such as Certified Public Accountant (CPA) license, Certified Internal Auditor (CIA) designation, or Certified Information Systems Auditor (CISA) designation. 

To learn more, visit the Division of Student Life and Engagement website. To apply for the position, please submit a resume, cover letter, and three professional references to the MSU Careers website by May 2, 2024.