Category: Benefits News

This category is for articles and announcements related to your benefits as an MSU benefits-eligible faculty or staff member.

National Retirement Security Week

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Man standing at laptop computer with paper documents
It’s estimated that retired households spend about 80% of what working households spend. Photo courtesy of TIAA-CREF.

Retirement may be late in the future, but the time to save for it is now. This week, formerly known as National Save for Retirement Week, is an important reminder to assess your savings progress. Are you where you should be?

Retirement vendor TIAA-CREF has prepared a checklist that details all of the important tasks you can complete this week to help secure your retirement.

Planning for retirement involves making a variety of important decisions early on about investment options, portfolio assets, amount of monthly contributions, beneficiaries and much more. Making the right decisions now will determine your security and comfort during retirement.

Both Fidelity and TIAA-CREF offer online resources, retirement savings plans and advising sessions.

Benefits Open Enrollment is a time of planning for 2016, but it can also be an opportunity to look forward to your future and consider your options for retirement. Establish some peace of mind during National Retirement Security Week by completing the checklist and securing your future!

Reminder: Open Enrollment Benefits Fairs occur Oct. 20–22

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After several weeks of Open Enrollment, MSU faculty, staff and retirees should be familiar with the plans and options available to them.  The Open Enrollment Benefits Fairs  are here to help with MSU Human Resources and vendor representatives available to answer questions.

The following are the dates and times of the Benefits Fairs:

Benefits_OE_Masthead_purple_webOctober 20, noon to 6 p.m.

October 21, 9 a.m. to 4 p.m.

October 22, 7 a.m. to 3 p.m.

While at the fair, eligible employees and retirees can receive a free flu shot. Find out more here.

You can also take some time to relax in a free 10-minute chair massage. Read about the times these are offered, which vendors are attending the fair and directions and parking information here.

Sign up for benefits during Open Enrollment

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Benefits Open Enrollment for MSU staff and faculty is going on now!

Benefits_OE_Masthead_purple_web
It’s that time of year! Benefits Open Enrollment is going on now

Sign up for health insurance, dental insurance, life insurance, flexible spending accounts and other benefits offered through MSU before Saturday, October 31, 2015. This annual month-long enrollment period is crucial in determining your benefits coverage for the 2016 year.

Read all you need to know about Open Enrollment in our 2016 guide, which includes cost of benefits, coverage summaries, new and important information this year and details about the various plans and benefits options offered through MSU.

Remember to attend the Benefits Fairs October 20-22 at Breslin Center to talk to vendors and MSU Human Resources Benefits staff members.

Open Enrollment is completed online through the Employee Self Service option in Enterprise Business System for health, dental, life and flexible spending accounts. Find detailed enrollment instructions in the Open Enrollment guide.

If you have questions, please do not hesitate to contact the HR Solutions Center. This team is prepared to help faculty and staff during the Open Enrollment period. Email your questions to SolutionsCenter@hr.msu.edu or call 517-353-4434.

MSU Benefits Open Enrollment begins October 1

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It’s that time of year again!

Open Enrollment graphic element
The plans selected in October will go into effect in January.

Mark your calendars for MSU Benefits Open Enrollment, which runs October 1–31. The Benefits Open Enrollment period allows eligible MSU faculty and staff to change their desired benefits plans, such as health, dental, life insurance, flexible spending accounts and voluntary MSU Benefits Plus programs.

Benefits Fairs will take place at the Breslin Center on October 20 from noon to 6 p.m., October 21 from 9 a.m. to 4 p.m. and October 22 from 7 a.m. to 3 p.m. They feature Open Enrollment sign-up assistance and health, dental, retirement, life, flexible spending account and MSU Benefits Plus vendors. Some other MSU units will be in attendance, such as the Clinical Center, which will offer flu shots again this year.

Now is a good time to re-evaluate your benefits needs to prepare for the October enrollment period. Find more information and resources relating to Benefits Open Enrollment here.

Visit Olin Health Center for a full range of services

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Olin Health Center doesn’t only serve students. Faculty and staff can take advantage of the conveniently located center for a wide array of services. The spouse and children of an employee or retiree are also eligible for these services.

Olin Health Center on a summer day
Olin Health Center often schedules same-day services by appointment.

Here are some of the services available to employees:

LIFE:Rx

Have you ever wondered how fit you are? Schedule a LIFE:Rx appointment to receive a comprehensive fitness evaluation, wellness assessment and individualized lifestyle and exercise prescription.Continue Reading… Visit Olin Health Center for a full range of services

Contact Best Doctors for expert medical advice

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MSU promotes health among faculty and staff. To ensure that employees receive correct and professional treatment, MSU offers the Best Doctors service to its employees.

Stethoscope
For an expert second opinion, call Best Doctors at no cost to you.

Contacting Best Doctors grants access to one-on-one discussions with Member Advocates and medical record reviews from top specialists across the country.

The recommendations provided by the experts working with Best Doctors can put patients’ minds at ease and even save lives. The medical information given to Best Doctors is completely voluntary and confidential, and with your permission they can consult your own physician. The service is free and operates on your time. Continue Reading… Contact Best Doctors for expert medical advice

Kick-start your retirement plan at upcoming workshops

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Retirement might be far away for many, but it’s never too early to start planning and preparing. Starting to save and invest now can lead to financial security and a big pay-off in the future. On July 15 and 16, retirement vendor TIAA-CREF is coming to MSU as a part of their Financial Essentials education to provide free workshops to staff and faculty. All sessions take place in the MSU Union. Click the dates to register for one of the sessions.

Jar of change
Start saving now to ensure a comfortable future

The Starting Line: Why and how retirement saving should begin now

Wednesday, July 15, 4 p.m. – 5 p.m.

This session shows the real effect of time on money, why saving is important and how to plan, and how budgeting can help you find and save. Snacks are provided.

Halfway There: A retirement checkpoint

Wednesday, July 15, noon – 1 p.m. or Thursday, July 16, 8 a.m. – 9 a.m.

This session provides a mid-year financial checkup that allows you to evaluate current savings, formulate a plan to reach your savings goals and how to manage what might be competing with retirement savings, such as college savings, short-term savings and so on. Lunch is provided at the afternoon session and a light breakfast is provided at the morning session.

Inside Money: Managing income and debt

Thursday, July 16, noon – 1 p.m.

This session demonstrates how to make your money work, the importance of cash flow and how to use it. It describes good and bad debt and ways to help manage it. Lunch is provided.

Register soon! Seating is limited. If you have questions, contact TIAA-CREF at 800-732-8353 or MSU Human Resources at retirementinfo@hr.msu.edu or 517-353-4434.

Congratulations to the “What’s Your Financial IQ?” Winners!

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MSU HR would like to thank everyone who participated in the “What’s Your Financial IQ?” challenge! To celebrate Financial Literacy Month, we teamed up with retirement vendor TIAA-CREF to quiz faculty and staff on their financial knowledge. Beginning on April 1, for 22 days five questions were added each day. The more participants played, the more they were entered to win a tablet computer.

The 1,100 participants, who ranged in age from 18 to over 65, received an average performance of 66 percent on the quiz this year. Participants self-identified their financial subject matter knowledge, ranging from “clueless” to “ready to retire.” MSU employees scored highest on questions related to taxes and lowest on questions related to retirement.

Congratulations to our winners!

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Nicole Martin, Administrative Professional in Faculty and Organizational Development
Mike Rich2
Michael Rich, Senior Specialist in Composite Materials and Structures
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Thomas Ginter, Physicist at National Superconducting Cyclotron Lab

Thanks again to TIAA-CREF for sponsoring the challenge. We hope staff and faculty learned the extent of their financial knowledge, and can study in preparation for next year’s challenge!

Best Doctors offers three great services

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The Best Doctors website is available to all members of MSU health plans. They offer three main services at no out-of-pocket costs to you:

In-Depth Medical Review & Interconsultation, where experienced medical professionals can answer any questions you may have about a medical diagnosis or treatment options.

When to call: Best Doctors Logo

  • You have questions about your existing diagnosis or treatment options.
  • Your doctor hasn’t given you a diagnosis or you aren’t getting better even with treatment.
  •  You wonder if you really need surgery or other recommended medical procedures.
  •  You want to make sure you are getting the right care from the right medical specialist.

Have a question about a medical diagnosis or treatment options? Ask the Expert.

When to call:

  • You have any general or specific medical question, and don’t want to rely on the Internet for information.
  • You have heard about a new treatment option or medical procedure and wonder if it’s right for you.
  • You are uncertain if the medications you’re now taking are the best options for you.

Need a pediatrician? Want the best surgeon in your area? Looking for a world-class medical specialist? Just contact Best Doctors to Find a Best Doctor, and they will locate the right doctor for you—one who’s nearby and in your health plan.

When to call:

  • You just moved to a new area and are looking for a doctor.
  • You believe you need to consult with a specialist.
  • You would like additional providers you can see about your condition.

To get started, call 1-866-904-0910 or visit their website.

MSU Benefits Plus – Discounts and Programs

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A reminder to all MSU benefits-eligible faculty and staff, you have the opportunity to enroll in several voluntary employee-paid benefits programs through MSU Benefits Plus. The optional programs include Vision Insurance, Group Legal Services, Critical Illness Insurance, Long-Term Care Insurance, Auto and Home Insurance, Pet Insurance and discount shopping.

Vision, legal and critical illness insurance have an annual open enrollment period during the fall of each year. That means you can only enroll at that time each year and once you enroll, you cannot change or cancel that enrollment until the next annual open enrollment period (unless you have a qualifying life event). Other programs, like auto, home, long-term care and pet insurances allow you to enroll at anytime throughout the year.MSUBenefitsPlus.com Screenshot

Discounts are available year-round on the MSU Benefits Plus website. These include discounts tied to MSU departments, local businesses and many other online shopping discounts.

Keep up on all of the discount information and programs that are available through the MSU Benefits Plus page. Sign in or create an account on www.MSUBenefitsPlus.com using your MSU ZPID number and password to view your benefits programs available to you.