Retirement Planning: 2019 IRS Retirement Plan Contribution Limits

Could you be saving more for your retirement? Whether you’ve just started working at MSU or have been here for 30+ years, it is important that you continue to monitor and adjust how much you’re saving if you want to have a comfortable retirement.

The IRS places limits on how much employees can contribute to a retirement plan each year. The IRS recently announced the retirement plan limits for 2019:

  • The annual employee contribution amount increased to $19,000 from $18,500 for 403(b) and 457(b) plans.
  • The age 50 catch-up contribution amount stayed the same and is $6,000 for 403(b) and 457(b) plans.

If you want to save as much as you can for your retirement, there is a tool in the EBS Portal called the Max Savings Contributions Calculator available to assist you. This tool automatically displays the remaining amount of retirement contributions you have available before reaching one of the limits, and the equivalent percentage of your pay to help you spread that out for the year.

To access this tool:

1. Login to the EBS Portal with your MSU NetID and password.

2. Click the My Benefits tab.

3. Click the Retirement/Health Savings Account tile.

4. Navigate to the Savings Plans screen.

5. The Max Savings Contributions Calculator screen will display. This display will automatically show the remaining amount of retirement contributions you have available (if any) before reaching the IRS limit.

6. You can adjust the percentage of your contributions to any retirement plans you participate in by clicking on the pencil icon.

7. If you want to enroll in a new plan, begin by clicking on the paper icon next to the plan and vendor of your choosing, and then enter the percentage of your new contribution.

If you are an academic year faculty or academic staff employee, or a Voluntary 403(b) Base participant age 50 and over, contact the HR Solutions Center at 517-353-4434 or SolutionsCenter@hr.msu.edu for further assistance in calculating your maximum contribution percentage.

Learn More About MSU’s Retirement Plans

The HR website contains a wealth of information about the different types of retirement plans offered, retirement investment vendors, and planning tools available.

Nominations are now open for the Ruth Jameyson “Above and Beyond” Award

Do you know an employee here at MSU that is pursuing a post-baccalaureate degree and still going above and beyond in their work? MSU is seeking nominations for the Ruth Jameyson ‘Above and Beyond’ Award through Friday, January 18, 2019.

This annual award recognizes a support staff member who most closely exemplifies the contributions, personal characteristics, and commitment to MSU demonstrated by Ms. Jameyson. In recognition of Ms. Jameyson’s own pursuit of a graduate degree while working at MSU, nominees must be pursuing a graduate degree at MSU or elsewhere concurrent with their employment at MSU. The recipient will be honored at the Distinguished Staff Award Reception in May.

Learn more about the 2018 Ruth Jameyson Award Winner, Melissa Congleton:

 

Individuals may be nominated by any member of the university community (colleague, administrator, faculty, support staff, student). A nominee must be a regular, active employee with at least five years of service to Michigan State University in a support staff position.

The deadline for nominations is Friday, January 18, 2019. You can learn more about the Ruth Jameyson Award on the MSU HR website.

Job of the week – Concert Production/Technical Manager

This week’s job of the week is a Concert Production/Technical Manager (#554761) for the Department of Music. This position is seeking an individual to plan and implement the backstage usage and theatrical equipment for productions, performances and other events.

The responsibilities for this role include assisting with creating and maintaining the master planning calendars for theatre and production, managing conflicting needs for hall access and usage, and assisting with scheduling and oversight of support staff for hall operations. Other responsibilities for this role include coordinating movement of musical instruments and advising/assisting with the load-in and set up of productions and performances.

The ideal candidate would possess knowledge acquired by completing a four-year college degree program in a business-related field; one to three years of related and progressively more responsible or expansive work experience in house management, managing large numbers of employees, operating computers, and office procedures; or an equivalent combination of education and experience.

For more details on the responsibilities of this position, and to view all our current postings, visit careers.msu.edu. Internal applicants should access postings through the Careers @ MSU tile in the EBS Portal.

Tips to Use Your Flexible Spending Account Funds

Welcome to 2019 and your flexible spending account (FSA) funds! If you signed up for a 2019 FSA during Open Enrollment last October, you’re on your way to saving money on out-of-pocket medical and/or dependent care expenses. MSU’s FSA plan administrator is WageWorks. If this is your first time participating in an FSA, make sure you register for your online WageWorks account.

If you have a Health FSA, you can purchase a variety of products and services with pre-tax dollars – it’s like a 30% off sale on eligible expenses1. Some items you may not know about include:

  • Allergy medication
  • Bandages
  • Breastfeeding classes
  • Cough syrup
  • Dyslexia treatment
  • First-aid kits
  • Guide dog
  • Hearing aids
  • Humidifier/air filter
  • Lasik
  • Pain relievers
  • Pregnancy tests
  • Reading glasses
  • Smoking cessation drugs
  • Sunscreen

You can find a complete list of eligible expenses for both health and dependent care FSA funds on the WageWorks website2. To make shopping for eligible expenses easier, visit the online FSA Store for the largest selection of guaranteed FSA-eligible products. And remember, managing your WageWorks account is quick and easy with the WageWorks EZ receipts app. You’ll love the convenience of submitting claims, uploading receipts and checking account balances directly from your phone.

What if I still have funds left over from my 2018 FSA?

Not to worry – if you still have funds left over from your 2018 FSA, you have until March 15, 2019 to use these funds and until April 30, 2019 to submit receipts to substantiate these claims. Find more information on the HR website.

Questions? For more detailed information contact WageWorks at 877-924-3967 or visit the WageWorks website. For plan eligibility questions contact the HR Solutions Center at SolutionsCenter@hr.msu.edu or 517-353-4434.

1 Assumes a combined tax rate of 30%, including FICA, state, and federal income taxes. Actual amounts may vary.

2 Some items may require a doctor’s prescription or other documentation from your doctor. Please see your account details for more information.

Nominations are Open for the Student Employee of the Year Award!

If you work on campus, you know how important student employees are to the success of your department and the university. Do you know a student who consistently goes above and beyond in their work? Supervisors have the chance to recognize these exemplary Spartans by nominating them for the Student Employee of the Year award by February 4, 2019.

Find more details and the nomination form on the Department of Student Life website.

Last year’s winner was Emily Duddles, Learning Assistant for the Department of Physics and Astronomy.

emily duddles jpg 2
Last year’s Student Employee of the Year winner, Emily Duddles.

Eligible nominees must be:

  • Currently registered in an MSU degree-granting program.
  • Employed on student employee payroll for a minimum of three months between June 1, 2018, and May 31, 2019.
  • Nominated by their supervisor. Only one student employee may be nominated per supervisor. Complete an online nomination form here.
    Note: Graduate assistants, residence hall staff and other student employees who do not fall under the jurisdiction of MSU Student Employment or the Student Employee Payroll may not be nominated for this award. They are eligible for other recognition programs.

All nominees will be honored with certificates. The MSU Student Employee winner’s name is submitted for consideration for the State of Michigan competition. All nominees will be acknowledged at the reception on Tuesday, April 9, 2019, at the Kellogg Hotel and Conference Center. Learn more about the award on the Department of Student Life website.

Events Round Up – January

Community Festivals 

MSU 2nd Annual Social Justice Art Festival

Community Events

Bridal World Event

Mid-Michigan RV Show

Food

Thursday, January 24

Brewer’s Dinner at Lansing Brewing Company

Tuesday, January 29

Founder’s Brewing Beer Dinner

Arts

Tuesday, January 8

The Poetry Room Open Mic

Music

Friday, January 11

Masterworks 03: Schubert Symphony No. 9

Saturday, January 12

Doug Mains and the City Folk

Tuesday, January 15

Anastasia

Thursday, January 24

Jessica Lang Dance

Friday, January 25

Gallery Suite at La Fille Gallery featuring Ben Sharkey

Wednesday, January 30

Camertone: International Chamber Soloist Concert Series

Family/Kid Friendly

Saturday, January 12

Daniel Tiger’s Neighborhood

Thursday, January 17

Chipmunk Story Time

Saturday, January 26

Winter Wonderland at Harris Nature Center

Sports/Fitness

Friday, January 18

Howl at the Moon

Saturday, January 19

Bellydance at the Brewery

Professional Development Opportunities:

Tuesday, January 22

Roadmap to Retirement

Wednesday, January 23

From Distracted to Productive

Thursday, January 24 AND Friday, January 25

Sustainable High Performance

Job of the Week – Unit Human Resources Administrator I

This week’s job of the week is a Unit Human Resources Administrator I (#551670) for the Department of IT Services Communication and Training. This position is seeking an individual to support the hiring, development, and engagement of the MSU IT team.

The responsibilities for this role include administering and coordinating the hiring and recruitment processes for all professional, clerical, student and temporary/on-call employees within IT.  Other responsibilities for this role include serving as a resource to department supervisors and a liaison to central MSU Human Resources to manage and coordinate human resource activities.

The ideal candidate would possess knowledge acquired by completing a four-year college degree program in Human Resources, Business Administration or related field; three to five years of related and progressively more responsible or expansive work experience in managing human resource functions, designing and implementing training programs and human resource/labor relations management and computer applications; or an equivalent combination of education and experience.

For more details on the responsibilities of this position, and to view all our current postings, visit careers.msu.edu. Internal applicants should access postings through the Careers @ MSU tile in the EBS Portal.

Are you happy at work? Time to make career goals part of your New Year’s resolutions.

With the new year on the horizon, now is the time to relax and recharge, spend time with your loved ones, and maybe start thinking about your career goals for 2019.

The average American spends 90,000 hours at work over their lifetime. That’s 1/3 of your life or 50% of your waking hours spent in the company of your co-workers (Pryce-Jones, 2010). When you think about your work life in these terms, it makes sense that you’d include career goals as part of your New Year’s resolutions.

What should your goals be? Research shows that people who feel more engaged and appreciated at work report feeling happier in general. These happy worker bees have a few things in common including a meaningful vision for their future, a sense of purpose, and great relationships (McKee, 2016).

Lucky for you, as a benefits-eligible MSU employee you have access to a variety of personal and professional development courses that can help you identify growth areas and build roadmaps for a more purposeful future. We recommend using some (or all!) of the following courses to help you reach your career goals and ultimately become happier at work.

Highlight of 2019 Professional Development Courses:

Chances are, you could use a little focus in your life. Between emails, text messages, phone calls, meetings, social media, family, and co-workers all demanding your attention, it can be hard to clear away the distractions and zero in on the work that needs to get done. We recommend taking the course From Distracted to Productive to learn “game plan” ideas for getting and keeping your distractors under control.

Once you’ve become more productive at work, how do you sustain those high results? You must have a significant amount of emotional resiliency as you navigate the challenges inherent in your day-to-day life. The course Sustainable High Performance teaches you how to increase your capacity for calm, creative responses to a wide variety of problems and operate from a high-quality state of mind.

And career goals would ultimately be meaningless if you didn’t create them with a bit of introspection. The Everything DiSC: Behavior Styles at Work course helps you understand yourself and how you relate to other people – including your co-workers. While the Identify and Maximize Your Strengths course shows you what makes you unique and helps identify your natural talents.

Ready to Sign-Up?

Find all the current professional development courses on the HR website. Register for the courses through the EBS Portal. After you log in, click the My Career and Training tab and then click the Courses for Employees at MSU tile.

McKee, Annie. “Being Happy at Work Matters.” Harvard Business Review, 26 Oct. 2016, hbr.org/2014/11/being-happy-at-work-matters.

Pryce-Jones, Jessica. Happiness at Work: Maximizing Your Psychological Capital for Success. John Wiley & Sons, 2010.

Job of the Week – Nutritionist

This week’s job of the week is a Nutritionist (#549681) for Culinary Services Operations. This position is seeking an individual to provide a healthy and safe experience for a leading self-operated food service.

The responsibilities for this role include assisting guests in navigating dining options, menus, and ingredients. This individual will assist the chefs in generating daily menus, as well as menus for special events. Other responsibilities for this role include training staff and student employees on allergies and safe food handling, assisting with the menu management program used campus wide, and preparing operational information for various fairs and events across campus.

The ideal candidate would possess knowledge acquired by completing one or two years of post-bachelor’s degree work such as a Master’s in Human Nutrition; one to three years of related and progressively more responsible or expansive work experience in nutrition intervention; or an equivalent combination of education and experience; and registration as a Dietitian.

For more details on the responsibilities of this position, and to view all our current postings, visit careers.msu.edu. Internal applicants should access postings through the Careers @ MSU tile in the EBS Portal.

Take advantage of these deals during this holiday season!

Are you still looking for deals for this upcoming holiday season? As a benefit-eligible MSU employee, you have access to many discounts and savings through MSU Benefits Plus. Here you can find discounts and special offers on a variety of products such as electronics, entertainment and more!

To access all the discounts, visit MSU Benefits Plus and sign-in using your ZPID number (located on your Spartan Card ID badge), or you can find the number in EBS. If you haven’t used MSU Benefits Plus previously, you’ll need to sign-up using your ZPID number to access the discounts.

Check out some of these deals that you can find through MSU Benefit Plus:

Apple – Enjoy employee pricing on your favorite Apple products when you shop the exclusive store. Discounts automatically applied with the link. Take advantage of this deal!

 Barnes & Noble – Take $10 off every $100 you spend (up to $500) when you use promo code STUDIOUS at checkout. This offer is valid until December 31, 2018. You can check out use this promo code on the Barnes & Noble website.

Lenovo – Save up to 36% on tablets, 2-in-1s, laptops, desktops, accessories, and more! Discount automatically applied with the link.

MWorks – Save an extra $125 on each new line with T-Mobile. Get a $125 Visa Reward Card, plus $25 instant savings with each new line of T-Mobile ONE when you call and purchase! Simply call 844-786-2964 to purchase and activate, and request promo: CORSMBR18.

Sprint – Enjoy exclusive saving on your Sprint Unlimited and Unlimited Plus plans! Take a look at what Sprint offers!

Wilson’s Leather – Get $10 off $100 and get free shipping on orders of $100 or more when you enter this code 8777A at checkout. Check out Wilson’s Leather website for the perfect gift.

Otterbox – Looking for something to protect your electronics? Otterbox is the perfect place to take a look. Take 10% off sitewide and get free shipping with code OTTER10 at checkout! Check out the Otterbox website for exclusive products.

Premium Seats – Concerts, Sporting Events, Theater Tickets, and more! Save 10% with code CORESTREAM on great seats and exclusive VIP packages to live entertainment and sporting events throughout the country. From concerts of all sizes to professional and college sports to Broadway and beyond, you’ll find tickets to thousands of events at Premium Seats USA! Take a look at some upcoming events on the Premium Seats website.

Hotels.com – Are you traveling during the holiday season? Spoil your special person with a night in the city. Save an ADDITIONAL 8% off most bookings at hotels.com with code CORESTREAM8. Find your destination at Hotel.com.

The HR website also offers other deals you can find on-campus through the MSU Tech Store, MSU Bakers, and the Kellogg Hotel & Conference Center, among others. You can check out some of those deals at MSU HR Website.

For more information on discounts through MSU Benefits Plus, visit the HR website. If you have any questions about the discounts, please call MSU Benefits Plus at 888-758-7575.