Retirement Planning: 2022 IRS Retirement Plan Contribution Limits

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 2022:

  • The annual employee contribution amount increased to $20,500 for 403(b) and 457(b) plans.
  •  The age 50 catch-up contribution amount continues to be $6,500 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 at the top. 
  3. Click the Benefit/Retirement tile. 
  4. Select Enroll/Change my Retirement/Health Savings Account Options in the drop-down menu and then click Next in the bottom right.
  5. Navigate in the bar graph to the Savings Plans screen by clicking Next in the bottom right. 
  6. 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. 
  7. You can adjust the percentage of your contributions to any retirement plans you participate in by clicking on the pencil icon, and then choose Select to make the change. 
  8. 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 and choose Select to enroll. 
  9. Make sure to click on Save in the bottom right to complete and save any changes/enrollments. 

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. 

Register for an Upcoming Virtual Professional Development Course!

Whether you’ve jumped into the new year with a list of goals to work on or need a little inspiration, HR Organization and Professional Development (OPD) has a variety of online, live courses to help you. Find a list of upcoming courses sorted by topic below.

Additionally, OPD wants to know your training preferences for the upcoming year. Complete this short questionnaire to help us ensure we’re best meeting your learning and development needs.

Business Analysis

Promapp, Interactive Process Creation – February 2 
Learners will continue their process improvement journey and build upon the knowledge and skills learned in Introduction to Process Mapping

Communication

Conflict Management and Non-Escalation: Train the Trainer – Starts January 19 
The goal of this course is to prepare participants to be able to provide instruction on the Vistelar proven methods to help others address the challenges of dealing with conflict and crisis. 

Crucial Conversations – Starts February 8 
Learn how to hold crucial conversations – where emotions and stakes are high and opinions vary. 

Finance and Accounting

Vendors in KFS – February 22 
This class will cover the various types of vendors in KFS and when to use them, how to add and edit a vendor, including documentation required, and tips on searching for a vendor.  

Human Resources

Certified Human Resources Specialist – Starts February 1 
In this five-class series, you will acquire an extensive set of reference materials and resources while building your professional HR network. 

Mitigating Bias in Hiring – February 10 
Learn about best practices and procedures for reducing potential bias in the screening and interview process and obtain tools for increasing understanding and self-awareness. 

Leadership

Engaging Teams for Maximum Performance – January 25 
Learn methods of building trust, setting goals and providing feedback to help enhance employee engagement and working relationships. 

New Leader Development Series – Starts January 18 
Apply now  to join the next cohort of the new, nine-session NLDS. Kicking off January 18, this program equips new leaders with a toolkit of crucial knowledge and resources. 

Strategic Planning – February 17 
Participants will gain a foundational base for implementing strategic planning in a unit.

Management

Building Cohesive Teams – January 26 
Learn methods for building collaboration within a team and skills for influencing team performance. 

Operations

Records Management and Retention at MSU – February 23 
Learn the rules, regulations, and strategies to help manage university records. 

Professional Development

Creating and Sustaining a Positive Workplace – February 15 
This course provides humorous insight into the seven habits of negativity, including tips to stop gossip, techniques for getting along with others, and strategies to reap the many benefits of a positive and engaged workforce. 

Everything DiSC®: Behavior Styles at Work – January 27 
Learn how to build more effective working relationships based on an understanding of different behavioral styles. 

The Power of Habit – February 16  
Learn how habits are created and how to replace undesirable habits with productive ones. 

Ready, Set, Change! – January 26 
This interactive and engaging course is appropriate for anyone responsible for implementing and guiding change in their organizations, such as leaders, project managers and their team members, HR professionals and more. 

You can find all the current virtual Organization and Professional Development courses on the HR website. Class enrollment is completed within the EBS Portal. Employees may use available educational assistance funds towards course fees (if any). 

Common Work-Related Goals with Resources to Help You Achieve Them

As we say goodbye to another year filled with unexpected challenges, now is a great time to take stock of how you’re feeling at work and pinpoint areas you’d like to improve on or change. If you don’t know where to focus your time, start by reading What’s Your Plan: Six Steps to Align Your Goals with What’s Important to You. You’ll learn how creating a personal strategic plan can provide a “vision and structure for your professional life and an anchor for you to connect with during periods of change.”

Sometimes, we set goals that may sound good on paper but aren’t super meaningful on a personal level, which sets us up for failure or significant stress as we try to achieve them. Take some time to clarify what you value most – such as life/work integration, better time management, or meaningful work – so you can focus your time strategically and succeed.

Common Work-Related Goals:

Review the common work-related goals below to see if any resonate with you and use the articles and learning opportunities provided to help you reach them.

What would you like to work on this year? I’d like to…

As you think about what you want to work on in the coming year and beyond, consider tying them to your Performance Excellence goals (for support staff). For more information about how to set yourself up for success as you identify goals, check out this When SMART Meets HARD: Setting Goals that Matter article. 

Don’t forget your Health Care FSA Funds this Holiday Season

Are you looking for more ways to save money this holiday season? If you have a health care FSA for the 2021 plan year with funds still available, you can save an average of 30% by using pre-tax dollars on eligible expenses. While you still have some time to use 2021 FSA funds in the new year, it’s a good idea to think about your expenses now so you can maximize how you’ll spend any remaining balance.

Consider the following ways your FSA could benefit you and your family this holiday season. Whether you’d like to reduce holiday stress or prepare for New Year’s resolutions, your health care FSA can help. All items listed below are from the FSA Store, which means you can shop worry-free knowing everything is automatically an eligible expense.

Before you place an order, be sure to check out the FSA Store’s monthly coupons and promo codes for additional savings. If you have any questions about your FSA, please contact MSU’s benefit provider HealthEquity/Wageworks directly at 877-924-3967. You can learn more about FSAs on the HR website.

Don’t forget your MSU employee discounts this holiday season!

As a benefits-eligible MSU employee, you have access to various discounts and savings that can help you find the perfect holiday gifts. Through MSU Benefits Plus, you can find discounts and special offers on products such as electronics, toys 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.

The following are a few of the deals you can find through MSU Benefits Plus:

  • Apple – Enjoy employee pricing on most Apple products such as select iPhones, AirPods, MacBooks, Apple Watches and more when you shop through this exclusive link.
  • Amish Furniture Company – Receive a 10% discount on all purchases using coupon code EDU10% during check out (may request proof of MSU affiliation).
  • Best Buy – Save 20% on select cell phone accessories including OtterBox, LieProof, Mophie, Speck, Kate Spade NY, Under Armour, and more when you use promo code 20percentoff at checkout.
  • Calm – Get 57% off* the #1 app for meditation and sleep through this link.
  • HP Gaming Gear – The HP Employee Purchase Program (EPP) offers HP consumer products at discounts typically up to 10% – 50% off starting prices through this exclusive link.
  • Kiwi Crate – Inspire the next generation of scientists and engineers, and save 35% off your first month’s box when you use this exclusive link!
  • Magazine Advantage – get up to 90% off the most popular magazines offering titles such as People, Better Homes & Gardens, Entertainment Weekly, Southern Living, Martha Stewart Living & more! Buy for yourself or send as a gift through this exclusive link.

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.

Submit a Nomination for the 2022 Ruth Jameyson “Above and Beyond” Award!

Do you know an MSU employee pursuing a post-baccalaureate degree who deserves to be recognized for going above and beyond what is expected of them in their work and studies? Now is your chance to show your appreciation for your coworkers and all the outstanding work they do by submitting a nomination for the 2022 Ruth Jameyson “Above and Beyond” Award! MSU is currently seeking nominations for this award and will accept nominations through January 21, 2022.

This annual award recognizes a support staff member who most closely exemplifies the contributions, personal characteristics, and commitment to MSU demonstrated by Ms. Jameyson, going “above and beyond” what is reasonably expected in supporting the mission of MSU. In recognition of Ms. Jameyson’s own pursuit of a graduate degree while working at MSU, the award recipient must be pursuing a graduate degree at MSU or elsewhere concurrent with their employment at MSU. A stipend of $2,500 will accompany the award and may be used as determined appropriate by the recipient.

Last year’s Ruth Jameyson Award winner, Kelly Feinberg, was a Research Administrator II/S in the Dean’s Office of the College of Communication Arts and Sciences pursuing a graduate degree in strategic communication from MSU. Learn more about the 2021 Ruth Jameyson Award Winner and what her colleagues had to say.

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 MSU in a support staff position.

To learn more about the nomination process, and find the nomination form, visit the MSU HR website. The deadline for nominations is January 21, 2022.

Winter Events, Activities, Holiday Shopping, and Courses

As the colder weather sets in and the holidays approach, take note of the following opportunities on campus or in the surrounding area for you and your family. Please note: the events below are subject to change at any time. Please confirm event details, safety policies, etc. directly with each event listed.

Family/Kid Friendly

  • Every Friday, Saturday, and Sunday – MSU Abrams Planetarium Family Shows: In November, check out Violent Universe: Catastrophes of the Cosmos and The Little Star That Could. They also offer sensory friendly shows on the third Sunday of the month.
  • Nov. 6 – Family Day: Perspective: Make creative connections with our exhibitions through free hands-on and interactive family fun throughout the museum. All ages are welcome. See all upcoming events at the MSU Broad Art Museum here.
  • Nov. 19 – Silver Bells in the City: Millions of lights. Thousands of people. One very special guest. Lansing’s premiere holiday event.
  • Starts Nov. 20 – Wonderland of Lights at Potter Park Zoo: Tour grounds with friends and family as thousands of lights and decorations transform the zoo into a holiday spectacle.
  • Nov. 21 – CADL-Downtown Branch Sensory Friendly Movies: Join in on the 3rd Sunday of the month for sensory-friendly family-friendly movies when we turn the lights up and turn the sound down. Feel free to get up, dance, walk, shout or sing! Snacks provided.

Holiday Shopping

  • Nov. 4 – Dec. 23 (every Thursday, Friday and Saturday) – Michigan Made Holiday Art Exhibition: Showcasing established and emerging artists, enjoy holiday shopping and opportunities to support makers in the local economy.
  • Nov. 5 – 2021 MSU Houseplant & Succulent Sale: All sales from this fundraiser help support the gardens, including funding for garden maintenance, educational programming, and support for our undergraduate student employees.
  • Nov. 5 – Arts Night Out: Shops host a special sale, exhibits, arts and crafts demo, live performances.
  • Second Friday of the Month – Second Friday Shop Hop in Old Town: Hop around to multiple participating businesses for specials, make and takes, pop up shops, local artist, and more.

Music

Performance and Art

  • Nov. 3 – Whose Live Anyway? 90 minutes of hilarious improvised comedy and song all based on audience suggestions.
  • Nov. 14 – Print Club!: Print Club! is a LGBTQ+ affirming social club founded by Lansing artist Randi Richards (they/them/she/her) dedicated to making space for those that love ink to work together, share, and build skills without financial barriers.

Personal/Professional Development Opportunities

Sports/Fitness

  • Nov. 20 – Silver Bells 5K: Participants will be able to run/walk the 5K marked course in downtown Lansing or from home virtually.
  • Nov. 25 – Lansing Turkey Trot (in-person or virtual): Proceeds from the race go to support High School and Middle School Cross Country and Track programs, and Youth Running Clubs through the Michigan Running Foundation grant program.

Do you have an event you’d like us to consider including in a future article? Please email HR.CommunicationsList@campusad.msu.edu with the details.

Updates to Accidental Death and Dismemberment (AD&D) Insurance for the 2022 Plan Year

AD&D insurance is a voluntary, employee-paid benefit that provides various amounts of coverage for accidental death or dismemberment that occurs at any time (not just during work). AD&D insurance is available to all benefit-eligible employees and their spouse/other eligible individual (OEI) or dependent children. You can only enroll, make changes or cancel coverage in AD&D insurance during the Open Enrollment period in October.

AD&D coverage is available at 1 to 10 times your annual salary. Benefit levels vary by type of insurance selected (employee-only or family) and the extent of the injury. Benefit amounts for your spouse/OEI and/or child(ren) are based on a percentage of your benefit amount. To calculate your monthly rate, review the Support Staff Open Enrollment Guide or Faculty/Academic Staff Open Enrollment Guide.

Please review the Prudential brochure for AD&D insurance to find details about the plan. We’ve highlighted a few plan enhancements for the 2022 plan year below that may help you determine if this optional benefit is right for you and your family:

  • The maximum benefit has increased for employee coverage to $1,500,000 (from $1,000,000) and spouse/OEI coverage to $750,000 (from $600,000).
  • The child only benefit amount has increased from 20% to 25% of the eligible employee benefit.
  • The spouse & child benefit amount increased to 50% spouse/20% child (from 50% spouse/15% child).

Additionally, other updates for the 2022 plan period include benefit amounts for triplegia, motorcycle safety equipment, home alteration/vehicle modification, critical burns, mortgage payment, funeral expenses, monthly rehabilitation, and surgical replantation. Find details about these new benefits for the 2022 plan year here.

Questions? MSU’s plan administrator for AD&D insurance is Prudential. If you have questions, we encourage you to speak to a Prudential representative during the MSU Virtual Benefits Fair this October or contact Prudential at 877-232-3555. Additionally, find further details about AD&D insurance in the Prudential brochure available on the HR website.

Job of the Week: Research Technologist I

This week we’re highlighting a Research Technologist I position (posting 707910) for the Clinical Neuroscience Lab. This is a funded project investigating abnormal visual perception in schizophrenia and bipolar disorder.

The successful candidate will play a pivotal role in many aspects of the study including recruiting and scheduling participants, performing clinical interviews, collecting behavioral and neuroimaging data, and organizing study data. In addition, this position will involve general lab management, including maintaining ethical protocols. The research technologist will also have the opportunity to prepare scientific results for publication and presentation. Finally, there will be the opportunity to participate in mental health outreach activities. There will be ample opportunity to learn novel methods in functional neuroimaging, vision science, and clinical science; accordingly, this position should be viewed as a stepping stone toward gaining entry into graduate or professional school.

You should have knowledge equivalent to that which normally would be acquired by completing a four-year college degree program in psychology, neuroscience, or related discipline and up to six months of related and progressively more responsible or expansive work experience in basic research techniques. Find a complete list of job duties and required/desired skills on the posting page.

If you’re interested in applying or learning more about this position, please visit the posting page here. Find all current job openings at MSU on the Careers @ MSU website.