Author: MSU Human Resources

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Decision-Making Myths and Tips

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There is often no “right” decision in both work and life. We’re frequently 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, makes rash decisions you regret, or falls 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 encountering a new situation, you may need more time to weigh potential benefits and risks. Knowing various decision-making approaches 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 instead 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 facts and intuition.

Satisficing vs. Maximizing Decision Making

A satisficing approach to making decisions involves settling for a “good enough” outcome, even if 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 essential to act immediately, and when there’s time to wait and gather more facts before making a choice.

Decision-Making Styles

If you feel stuck when making a decision, consider the decision-making styles below. Examine these factors and consider how they relate to your potential decision.

StyleBehaviorWhen to useDo not use when
AuthoritativeTime is short.

As a decision maker, you have all the knowledge needed.		As a decision maker, you do not have all the knowledge or insight needed.

The issue is important to a group/team.		You need buy-in from others.
Consultative (group or individual)You gather input from individuals or a group, and then decide.You decide along with a group; everyone understands the decision, and the majority of people are willing to implement.Others don’t have a say in the decision (as a decision maker, you may have privileged information).
MajorityIt is a relatively trivial matter or a low-stakes decision.You reach a decision with a group; everyone understands the decision and is willing to implement it.The decision affects everyone in a meaningful way.
ConsensusYou delegate the decision to an individual or a team, with your set constraints.The decision will impact everyone, and everyone needs to buy in fully.

There is potential value in the team discussing or working together on the decision.		Time is short.
DelegateThe delegate has all the necessary skills, or a coach or mentor can assist.You decide with a group; everyone understands the decision and is willing to implement it.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 now; I don’t have time to make this decision.

Putting off a decision is a decision in and of itself. However, intentionally slowing down to clarify your problem will speed up your efficacy. Put in the quality time now to avoid revisiting a decision you may regret later. Our issues 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 the 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 return 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 happening and not simply reflect learned behavior patterns 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 (Courses, Short Videos, Audiobooks, eBooks)

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.

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Job of the Week: Human Resources Assistant Director of Benefits

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We are featuring a job posting (#1036466) for an Assistant Director of Benefits to join us at MSU Human Resources (HR)!

Our mission is to provide strategic human resources expertise, counsel, support, and services for the MSU community. MSU’s diverse and talented workforce deserves an outstanding employee experience, which includes a comprehensive benefits package. Learn more about MSU benefits on the HR website.

Under the direction of the Director of Benefits, the Assistant Director will administer multiple benefit programs from vendor selection to implementation, addressing any service issues that arise. You will collaborate to sustain, promote, and grow benefit programs supporting the MSU strategic plan.

This position manages multiple programs for HR benefits, including (but not limited to) the following responsibilities:

  • Negotiating with vendors over service and benefits costs.
  • Assisting the Director of Benefits in the overall administration of the benefits function, including acting as a proxy for the Director as needed during absences.
  • Investigating new benefits programs and improving existing programs.
  • Supervising benefits administration and data management.
  • Providing analytical and technical support in the delivery of benefits programs.

This role is based on the MSU campus in East Lansing, Michigan. HR embraces flexible work options, and this position allows for a hybrid schedule (if desired) with regular onsite work required 2-3 days per week.

Minimum requirements to apply include completing a four-year degree in Human Resources Administration or a related field and three to five years of work experience in benefits administration. Experience with ERISA and COBRA plans, Medicare and Medicaid coordination, ACA reporting, and supervision of a team of managers is desired. The MSU Careers website provides a comprehensive list of job responsibilities and minimum/desired qualifications.  

Learn more about MSU Human Resources or apply for this position with a resume and cover letter by May 13.

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Mother’s Day Deals and Discounts

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This Mother’s Day (May 11), show the mom in your life that you appreciate them with a thoughtful gift or experience – whether that’s your mom, mother to your kiddos, stepmom, mother-in-law, or any maternal figure in your life.

MSU benefits-eligible employees can access many discounts and savings through MSU Benefits Plus. To access all the discounts, visit MSU Benefits Plus and sign up for a free account using your MSU email address.

Flowers 

  • ReVased: Take 20% off any ReVased flower bouquet or plant purchase with code CORESTREAM20. 
  • 1-800-Flowers: Save 20% on fresh, high-quality flowers using code CSTREAM.  

Gifts 

  • Gardyn: Get a gift with the new Gardyn 4.0 indoor gardening system using code EATGREENS.  
  • Bombas: Save 20% off your purchase using code CORESTREAM20.  
  • Gamefly: For the first three months, you can get $14 off your monthly subscription and access to the full game library. 
  • Nobull: 20% off training shoes and apparel using code CORESTREAM20.  

Food 

  • GiftTree: Save 10% on most gifts and gift baskets using code MSU10. 
  • Wolferman’s: Save 20% on specialty breakfast foods and unique bakery treats with code CSTREAM. 
  • Harry and David: Save 20% on the finest gourmet foods and fresh fruit gifts with code CSTREAM. 

Experiences 

  • W. K. Kellogg Biological Station: Free admission to the bird sanctuary for moms on Sunday, May 11! Spring flowers and trees are in bloom, and migration season is underway. 

Find these discounts and many more by visiting the MSU Benefits Plus website. For questions, please get in touch with the MSU Benefits Plus customer care team at 888-758-7575. 

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5 Financial Goals to Consider with Help from Fidelity and TIAA

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As a benefits-eligible employee, you may know about 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 – 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 contact your vendor using the following information. 

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 goals, and understanding how to balance debt, saving, and investing, it’s no wonder people often 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 (2024, 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 to keep you out of debt. 
More Information: 

3. Pay Down Debt: The average American owes $105,056 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 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 contact 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 that 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 from participating in the 403(b) Retirement Plan. Please see the 403(b) Base Retirement Program Eligibility Chart for more details.  

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. (2024, February 14). 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 2023 – May 2024. Board of Governors of the Federal Reserve System. (2024, May). https://www.federalreserve.gov/publications/2024-economic-well-being-of-us-households-in-2023-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 

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Performance development cycle, see article for text details.

5 Ways to Engage with Your Performance Evaluation Beyond an Annual Review

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Part of MSU’s appeal as a residential, land-grant institution is our vast array of programs, specializations, and priorities — not just for students but for staff and faculty. This diversity makes us great, and it also requires a need for case-by-case definitions of success and achievement from unit to unit and from person to person. 

One way to ensure you, your supervisor, and the university recognize and record your efforts is to tell your story through the Performance Excellence (PE) process. When many of us in non-supervisory, support staff roles discuss PE at MSU, we think of a supervisor-led annual review. In reality, PE encompasses an ongoing cycle of: 

  1. Performance Planning — Goal Setting and Development Planning 
  2. Continuous Feedback, Coaching, and Development 
  3. Annual Review — Collaborative Meeting with Employee and Supervisor Contributions 

Below are suggestions for ways to engage as an employee in the PE process and tell your story with confidence. 

1) Set SMART, HARD Goals and Find Ways to Measure Them 

On one hand, we know each employee’s experience and accomplishments extend well beyond quantitative data and one review each year. On the other hand, we also know that specific measurements — especially those backed by accurate numerical data — are a powerful and widely accepted way to determine success. 

One way to ensure the full picture of your story is told during the PE process is to take the lead when it comes to your own goal setting and measurement. Setting SMART, HARD goals is a great place to start. Consider the following: 

  • Your personal goals 
  • The goals of your department/unit goals 
  • Organization-wide goals/university strategic plan 

Goals are not something that should be determined solely by a supervisor and then assigned and evaluated once a year during your review discussion or performance planning session. Generating and adapting goals throughout the year is a collaborative process and one way you can contribute toward the narrative of your achievements. 

Read related article: When SMART Meets HARD: Setting Goals that Matter 

2) Track and Document Your Accomplishments 

Setting and measuring goals is a great place to start, but tracking and documenting your progress toward these goals is key. Block off some time on your calendar to regularly check results, generate data and document your progress in a way that makes the most sense for you and your role. You know your work, efforts, and accomplishments better than anyone else, which makes you the ideal person to collect and report this information. 

Read related article: What’s Your Plan? Six Steps to Align Your Goals with What’s Important to You 

3) Schedule Regular Check-ins 

In this environment of rapid change, it’s more important than ever to regularly check in with your supervisor to discuss progress, review and reevaluate goals, and receive feedback. Regular, continuous coaching allows an opportunity for you to reconnect to your unit’s and the university’s mission and ensure your goals continue to be aligned with this larger vision and objectives. 

As a university, we are working to shift the perception of PE from one yearly review to a wider focus on ongoing coaching, feedback, and goal setting. There’s no need to wait for your supervisor to schedule a meeting for you to touch base on these topics. You have the option of reaching out to your supervisor and setting up check-ins on a schedule that works for both of you. Even a brief 15-minute check-in can go a long way toward staying on track with goals and sharing the story of your work. 

TIPS 

  • Go to these meetings prepared with the documented progress and accomplishments mentioned above. 
  • Bring questions to help guide the conversation and make the time as useful as possible for both you and your supervisor. 

4) Contribute Toward Your Review 

Did you know that, as support staff, you have the opportunity to contribute toward all your PE discussions and submit documentation to include along with your official review forms? 

Review documentation that is imaged and kept on file with central HR includes your reviews (annual, probationary, and interim) and performance improvement plans. You have the option to include a self-review and/or other statements along with your documents on file. On an ongoing basis, this may be a summary that features the data you’ve been tracking throughout the year to share specific achievements and outcomes. 

TIPS 

  • Keep it brief. Unless documenting extraordinary circumstances, a 1–2-page document will be impactful and share the story of your performance. Due to system storage limitations, submitting a large quantity of documents with your review could possibly lead to some documents being excluded from imaging. 
  • Reference any additional documents on the official PE forms. Include a statement within the “Employee’s comments” section of the Annual Review to “See attached ______” (e.g., self-review, list of achievements) and indicate the number of additional documents. This helps central HR know an employee’s wishes for those documents to be imaged alongside their review. 

5) Utilize Your Resources 

HR’s Organization and Professional Development (OPD) department offers online PE resources and documents geared toward both employees  and supervisors that can help guide and support you in all components of the PE process. OPD is in the process of reworking this online content for greater accessibility, inclusivity, and usefulness for all support staff, and we look forward to sharing these changes with you later this year. 

Additional recommended resources are listed below. Your MAU’s HR representative, central HR and OPD, and your union representatives are all available to work with you and help you share your story should you need specific guidance or assistance at any point during the PE cycle. 

RECOMMENDED RESOURCES 

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Don’t Forget Your Optional MSU Benefits and Resources 

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MSU is committed to offering valuable benefits to support you and your family. You’re probably aware of MSU’s health and dental care benefit options as a benefits-eligible employee. However, on top of those, you can access a range of optional benefits we’d like to remind you about. 

Beyond meeting your health and dental care needs, these optional benefits can help you save money on needed products and services. We realize keeping track of all these different resources can be overwhelming. To help, we’ve created the following recap to jog your memory with links to more detailed information to learn more. 

This graphic provides a quick summary of these optional benefits (view a PDF version).

An infographic displaying the following optional benefits available to MSU employees: 1. Teladoc: speak to a licensed medical professional by web, phone, or app. If needed a prescription can be sent anywhere in the U.S. No co-pay for employees enrolled in BCV, BlueCard, or Community Blue. CDHP enrollees pay the full amount until the deductible is met. 2. Livongo by Teladoc: A free diabetes management program for benefits-eligible employees, their spouse/other eligible individual, and dependents. 3. Teladoc Medical Experts: Expert medical advice for informed medical decisions. Get help to make the right choice with confidence. 4. Voluntary Benefits: options include pet, vision, home, auto, legal, critical illness, along with discounts. 5. On-campus/local services: Find imaging services, such as MRI, X-ray, and more- along with prescription delivery within 30 miles of campus.

Optional benefit programs available: 

  • Teladoc: Virtually speak with a doctor 24/7 via web, phone, or mobile app. They can even write you a prescription if necessary. Employees have described Teladoc as “a game changer” (read employee experiences here). If you haven’t already, we recommend you sign up for Teladoc now so you’re prepared. 
  • Livongo: This diabetes management program provides free supplies delivered right to your door whenever you need them and support with optional virtual coaching. Save time and money on needed supplies. Learn more about Livongo on the HR website. 
  • Teladoc Medical Experts: Get medical advice from experts on your specific medical condition and feel empowered to make the best choice possible for your care. Whether you need medical questions answered, a diagnosis double-checked, help deciding on a treatment plan, or guidance about surgery, Teladoc Medical Experts can help. Learn more about the services Teladoc Medical Experts offers. 
  • Voluntary Benefits and Employee Discounts: Find insurance offerings such as vision, legal, pet, home/auto, and critical illness (some have enrollment periods) through MSU Benefits Plus. Additionally, you will find MSU Campus Discounts and a variety of other discounts on everything from electronics to home goods, meal delivery services, travel, and much more. 
  • On-Campus/Local Services:

You might not always need or think of these resources, but keeping them tucked away can make it easier and more cost-effective to manage your family’s health. As always, if you have any questions about these benefits options, please visit the HR website to learn more or contact the HR Solutions Center at SolutionsCenter@hr.msu.edu or 517-353-4434.

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Unlock Your Professional Potential with MSU Development Resources  

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Your Professional Growth Starts Here 

At MSU, we are committed to supporting your professional development through a wide range of learning and professional development opportunities. Whether you’re looking to advance your career, build new skills, or stay up to date with industry trends, our office and partners offer a variety of resources to help you succeed. 

New and Featured Course Announcements 

  • MSU Ethics Certificate (On-Demand in ElevateU): The MSU Ethics Institute is proud to announce the availability of a new on-demand learning certificate program, hosted on the ElevateU platform. The MSU Ethics Certificate Program equips Spartans with the knowledge and skills to navigate ethical challenges in our professional roles. Participants will explore core ethical concepts, approaches to ethical reasoning, and how to align personal values with professional conduct.
  • Spartan Experience Relaunch: Coming this spring is a refreshed and redesigned Spartan Experience learning program. The Spartan Experience program is designed to foster a culture of excellence by prioritizing customer satisfaction and maintaining a strong service mindset. Additional details will be published on the HR Professional Development website and included in our monthly newsletter as they become available. 
  • New Lunch & Learn: Making the Most of Your Professional Development: Join us for a session focused on making the most of professional growth opportunities at MSU. Topics include an overview of Educational and Tuition Assistance, elevateU, and Organization and Professional Development courses. Registration is available in the EBS Portal.  
    • Thursday, April 24, Virtual, Noon to 1:00 p.m. 
    • Tuesday, June 3, Virtual, Noon to 1:00 p.m. 
  • Mandatory Reporting Obligations for RVSM: Provided by the Prevention, Outreach, and Education Department (POE), presenters will review the university’s Mandatory Reporting for Relationship Violence and Sexual Misconduct and Title IX policy, including an overview of prohibited conduct under the RVSM policy.  
    • Thursday, March 27, Virtual, 1:00 to 2:00 p.m. 
    • Monday, April 21, Virtual, 1:00 to 2:00 p.m. 
    • Thursday, May 29, In-person, 1:00 to 2:00 p.m. 
  • Trauma-Informed Leadership: Join the Trauma Services Training Network to learn the definitions of trauma, its signs and symptoms, and the ways that trauma may manifest in the workplace. Review the principles of trauma-informed practices, with an emphasis on approaches for leadership, including practical, trauma-informed strategies for supervisors managing difficult situations. 
    • Thursday, June 12, Virtual, 1:00 to 2:30 p.m. 

Explore Our Professional Development Resources 

ElevateU Recommendations 

How to Access elevateU 

Access elevateU via this direct link or via the EBS Portal using the directions below.  

  1. Log in to the EBS Portal with your MSU NetID and password. 
  2. Click on My Career and Training in the top navigation. 
  3. Click on the elevateU tile to open the application in a new window. 

Mobile App Version: Additionally, elevateU is available on your mobile device with the Percipio App. After you download the app, type elevateU into the field and log in with your MSU NetID and password. 

Additional Learning Resources 

Looking for more ways to grow? Many MSU partner offices provide specialized training and development programs. Check out their offerings here: 

Take charge of your professional growth today! Visit the HR courses website to explore all available learning opportunities. 

Article written by HR’s Organization and Professional Development Team.

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Don’t Wait to Create a Retirement Savings Plan

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We are committed to helping our employees prepare for a successful retirement by offering several retirement savings plan options, along with tools and resources to help you reach your goals.

Most benefit-eligible employees 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, you may want to consider additional savings options. MSU also offers two additional savings accounts: the 403(b) Supplemental Retirement Program and the 457(b) Deferred Compensation Plan. For more information about these two accounts, read Your Top Questions about MSU’s Optional Retirement Plan Options.

How to Make a Retirement Savings Plan

It’s normal to have many questions when you start to plan for your retirement:

  • How early should I start planning?
  • How much do I need to save to retire comfortably?
  • Which plan(s) should I contribute to?
  • What can I do to maximize my savings?
  • Are my retirement goals attainable?

The answers will depend on your financial situation and retirement goals. We strongly encourage all MSU employees to make an appointment with their retirement vendor – Fidelity or TIAA – to discuss their options and develop a personalized savings plan. Fidelity and TIAA are financial professionals who can provide helpful strategies, tips, and actionable steps that can help you take charge of your finances.

Additionally, both Fidelity and TIAA have numerous resources – including articles, webinars, interactive tools, and more – to help you learn about saving for retirement and other financial goals.

Don’t Wait to Save: The Power of Compounding Interest

For younger MSU employees, creating a comprehensive retirement savings plan may not be a top priority. Between student loans, rent, childcare, and more, it can be difficult to set aside money for a day 30 to 40 years in the future. But the young have a huge advantage when it comes to saving money for retirement: more time. This additional time allows them to potentially benefit the most from compounding interest, which may lead to greater savings down the road.

Compounding interest basically means allowing an investment to earn money while continually reinvesting those earnings over time. The more time you have, the smaller your original investment may need to be. In the hypothetical example below, a 25-year-old starts saving $5,000 annually ($416 per month), and a 40-year-old starts saving twice as much but waits until age 40 ($833 per month).

Compounding Interest Graph

The 25-year-old ends up contributing less money over time – $200,000 versus $250,000 – but ends up with a higher balance: $798,735 versus $566,317. In other words, the 25-year-old contributes $50,000 less but ends up with $232,000 more than the 40-year-old who waited to save. As this example shows, younger investors may benefit from saving as much as possible as soon as possible.

If your retirement date is a bit closer, you can still take advantage of compounding interest. However, you may need to increase your monthly contributions to meet your retirement savings goals. Luckily, the IRS allows people who are aged 50 years or older to contribute an additional “catch-up” amount to their retirement plans each year.

As you determine your contribution amount, please note the IRS places limits on how much employees can contribute to a retirement plan each year. To contribute a certain amount, such as $100 per paycheck, you can use the calculating tool to convert a dollar amount to a percentage.

Of course, remember that investment returns are not guaranteed and will fluctuate — in some years you may have gains, and in other years you may have losses. But over time, any investment with a net gain will benefit from compounding.

How to Change Your Contribution

While your contribution to the 403(b) Base account is fixed based on your income, you can adjust your contributions to the 403(b) Supplemental Retirement Program and/or the 457(b) Deferred Compensation Plan at any time. To do this, login to the EBS Portal with your NetID and password. Select My Benefits from the top navigation, then click on the Benefit/Retirement Enrollment and Changes tile. Select Enroll/Change my Retirement/Health Savings Account Options from the dropdown menu and click Next. On the Savings Plan screen, you’ll be able to edit your contributions to the 403(b) Supplemental and/or 457(b) Deferred Compensation accounts. Make sure you click through all the screens and hit Save to finalize the change to your contributions.

Questions? We encourage you to reach out to Fidelity (800-642-7131) or TIAA scheduling (800-732-8353) for your retirement planning questions. Visit the HR website for additional information on the retirement plans offered by MSU.

1 Please note, that the example above is a hypothetical illustration only and is not intended to represent the past or future performance of any investment. The example assumes contributions are made monthly at a 6% annual effective rate, compounded monthly, and no withdrawals. Actual performance will vary with market conditions. Investing involves risk. There is no assurance that the goals will be met or that the solution or strategy will be successful. This example was developed in partnership with TIAA.

2 Certain types of employees are excluded from participating in the 403(b) Retirement Plan. Please see the 403(b) Base Retirement Program Eligibility Chart for more details.

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With Gratitude on National Employee Appreciation Day

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Dear Colleagues,  

At MSU, we all play an essential part in something bigger, driven by purpose, passion, and our collective dedication to excellence. Your contributions make MSU an environment conducive to innovation, learning, and impactful experiences for students, colleagues, and the broader community alike. Your dedication helps shape that experience! 

National Employee Appreciation Day is an opportunity to appreciate all that our amazing workforce contributes every day. MSU thrives because of you and your hard work, creativity, and unwavering commitment to our shared mission. 

Though our appreciation goes beyond what can be expressed in words, we partnered with university supervisors to share just a few of the words that come to mind when considering the positive qualities of our outstanding teams:

Word cloud with the following words: Collaboration, Team work, Trust, Proud, Integrity, Kind, Spartan, Innovative, Dedications, Super Star, Gidinawendimin, MVP, Strong, Admired, Flexible, Fun, Joy, Talent, Thoughtful, Cherished, Inspired, care, Respect, Positive, Generous, Thankful, Real, Amazing, Selfless, Praise, Compassion, Amazing, Friendly, Creative, Calm, Diligent, Mission-drive, HEart, Partners, Persistent, Unlimited, Supportive, Love, Helpful, Gift, Authentic, Camaraderie, Motivated, Synergistic, Top Notch, Problem Solvers, Bright, Valued, Dynamic, Unwavering, Thrilled, Fantastic, Elite, Solutions Oriented, Humble, Appreciative.

While today marks an official recognition of our appreciation, gratitude is something to express on an ongoing basis. Take a moment to celebrate your accomplishments, recognize the achievements of your colleagues, and reflect on the meaningful ways you contribute to MSU’s success. 

Thank you for being part of such an exceptional community! Your participation makes MSU what it is today. 


With Sincere Gratitude,  

Donna Donovan
Interim Associate Vice President for Human Resources

Photo credits: The opening image is a compilation of Spartan Employee Spotlight series photos.
1. (Top left) Landscape Services hosting the “Tree”mendous Care event for students in MSU’s Department of Forestry. Photo by Gabbi Ahlborn. 2. (Bottom Left) Hasina Saraha is an academic specialist teaching chemistry in Michigan State University’s Lyman Briggs College. Photo by Greg Kohuth. 3. (Middle top left) Jainaba Fall, a buyer on the IT Procurement team, works to strategically source, negotiate, and issue orders for IT products. Photo by Derrick L. Turner. 4. (Middle) Stationary engineer Frank Trout (seated) and Tony Mitchner, the skilled trades supervisor for power plant operations, monitor plant operations. Photo by Gabbi Ahlborn. 5. (Middle bottom) Power plant technicians Carl Kobb (right) and Levi Dysinger review online equipment documentation while working to calibrate a new steam flow transmitter. Photo by Gabbi Ahlborn. 6. (Middle top right) Sara Olsztyn is one of seven neighborhood administrative coordinators at Michigan State University. Photo by Greg Kohuth. 7. (Top Right) Communications Manager Dana Whyte spends game day at the MSU Emergency Operations Center. Photo by Derrick L. Turner. 8. (Bottom Right) Sharod Williams is a research assistant in the Genomics Core. Photo by Greg Kohuth.

Communications Manager I: Basic details of the Job of the Week article posting, noted in the article

Job of the Week: Communications Manager I for the College of Social Science

Published on by MSU Human ResourcesLeave a comment

This week, we are featuring a job (posting 1025701) for a Communications Manager I in the College of Social Science. In this role you will be responsible for creating communications/marketing related content within the college under the direct supervision of the Director of Communications. This job is considered remote-friendly, with the expectation of regular on-campus presence as mutually agreed upon with your supervisor.

The students, staff, faculty and alumni of the College of Social Science work every day to make our world a better place. From studying how sleep affects our brains to how policies affect our communities to how greenhouse gases affect our planet, social scientists seek to understand and solve the world’s toughest problems.

Your job responsibilities include the development, goal setting, and execution of communication and marketing strategies, campaigns, and other publications (including digital content) for the college. You will have the opportunity to work with faculty to promote research, assist in pitching stories to media outlets, and liaison with other university departments. Additionally, you will create/produce, edit, disseminate, and monitor content for social media, websites, and other publications. Find a complete list of job responsibilities on the MSU Careers website.

This role requires knowledge equivalent to that normally acquired by completing a four-year degree in Journalism, Telecommunications, or Public Relations plus one to three years of related work experience.

Learn more about the MSU College of Social Science on their website. If you’re ready to apply, visit the MSU Careers website and submit your application with a cover letter, resume, and work examples by March 18.