New Faculty

Hi, Professor Smith?

I'm Elliott G, one of the retirement providers here at MC. I heard you're new / Prof. Jones told me you were new.

Welcome to MC.

I'm meeting all of the new professors on Wednesday and Thursday one-on-one to get them enrolled in the plan. It takes about ten minutes. Which day works better for you?

Great. Think about your budget and how much you'd like to contribute. Most people do 10%.

Objections
Plan? What plan?

So at MC everyone saves in what's called a 403(b). It's like a 401(k). Let me ask you, is retirement important to you?

Great. So in order to be prepared for retirement, most employers offer a benefit that allows employees save a little on their own because the pension and social security are not enough to get by on. I'll talk more about it when we meet. What time is best for you, mornings or afternoons?

I'm already paying 7% toward something. Is that what this is?

That's your pension. This is the 403(b). Most jobs have pensions, but they're a dying breed, and they don't pay enough to last your retirement. Is retirement important to you?

That's what I thought. So the 403(b) is the employers' response by offering tax benefits and investment opportunities for people who save on their own. I'll tell you more about it when we meet. Is Wednesday or Thursday better?

I don't think I want to do it?