Tag: Retirement

New Report Highlights Importance of Financial Wellness and Literacy Among Higher Ed Workforce

April 5, 2021 10:33 am

Editor’s note: Be sure to join Paul Yakoboski, senior economist at TIAA Institute, and Melissa Fuesting, survey researcher at CUPA-HR, on Wednesday, May 26 at 2:00 p.m. (ET) for the webinar, “Faculty Retirement Patterns and COVID-19: Impacts, Challenges and Opportunities.” In addition to their findings on changes to the expected retirement age for faculty, Paul... View Article

The Impact of COVID-19 on Retirement Readiness for the Higher Ed Workforce

March 22, 2021 11:06 am

Editor’s note: Be sure to join Paul Yakoboski, senior economist at TIAA Institute, and Melissa Fuesting, survey researcher at CUPA-HR, on Wednesday, May 26 at 2:00 p.m. (ET) for the webinar, “Faculty Retirement Patterns and COVID-19: Impacts, Challenges and Opportunities.” In addition to their findings on changes to the expected retirement age for faculty, Paul... View Article

Will the Pandemic Accelerate or Postpone Retirement?

November 23, 2020 11:48 am

This blog post was contributed by Christina Cutlip, senior managing director of client engagement and national advocacy at TIAA. A crisis like the one we’re going through tends to leave an imprint both physically and mentally. Employees’ financial outlook have been especially affected as they’ve either experienced a worst case scenario or realized that bad... View Article

How Financially Sound Are Higher Ed Workers?  

October 22, 2019 4:30 pm

While the vast majority of full-time higher education employees are saving for retirement, there’s still room for improvement. In a session at this year’s CUPA-HR Annual Conference and Expo, Paul Yakoboski, senior economist at TIAA Institute, and Rob Shomaker, vice president and chief operating officer at CUPA-HR, shared new findings on the personal finance practices... View Article

The Higher Ed Staff Workforce Is Aging

August 28, 2019 9:00 am

With nearly one-third of the U.S. higher education staff workforce age 55 or older, the implications are many for colleges and universities. New research by CUPA-HR on the aging of the higher ed workforce highlights some challenges institutions will likely face in the coming years as staff begin to retire in large numbers. Here’s what... View Article

Employee Retirement Income Security Act of 1974 (ERISA)
Members Only

June 13, 2017 6:19 pm

Since its passage in 1974, the Employee Retirement Income Security Act (ERISA) has served to protect the interests of private-sector employees with respect to voluntary pension and health plans. It does not require employers to establish pension or health plans, but it regulates the operation of plans once established. It specifies vesting rules, sets minimum... View Article

Retiree Health Insurance
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June 13, 2017 6:19 pm

Organizations are increasingly deferring to Medicare and Medicare supplemental plans to provide health insurance for their retirees. The Early Retiree Health Re-Insurance Program, created by the Affordable Care Act, provides reimbursement to participating employment-based plans for a portion of the costs of health benefits for early retirees and their spouses, surviving spouses and dependents. Institutional... View Article

Retirement Programs (Early and Phased)
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June 13, 2017 6:19 pm

Early and phased retirement programs have become especially popular in the past few years in both the public and private sectors. As economic constraints on organizations worsened, programs to reduce costs became imperative. Since the human resource is one of the costliest elements of a budget, RIFs, furloughs and retirement incentives became a partial solution... View Article

Retirement General Overview
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June 13, 2017 6:19 pm

In the United States, retirement plans are regulated by the Department of Labor and are generally defined in terms of the tax status they are given under the IRS code; that is, qualified or non-qualified for special tax treatment. They are further governed by the Employee Retirement and Income Security Act of 1974 (ERISA), the Pension Protection... View Article

Total Compensation
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June 13, 2017 6:19 pm

To most employees “compensation” means salary, but it is much more than that. Total compensation is really the investment an organization makes in its people. Total compensation is the compilation of not only salary but employer contributions to insurance programs, retirement, services, discounts and other benefits—in essence, the value of the various components of the... View Article