What’s New?

Service Awards

Congratulations to those employees who have reached milestone years!   Check out the list of November Service Award Recipients.

VRS Defined Contribution Plans Overview Session and One on One Reviews

Our 457 Deferred Compensation Plan and Hybrid Retirement Plan Representative will be on campus on Tuesday, November 11 in Lee Hall 412. We will have “The Defined Contribution Plans Overview” beginning at 9:00 am. We will also offer Individual Account Reviews in 30 minute intervals beginning at 10:00 until Noon. Then they will resume at 1:30 until 3:00 pm. Please contact Denise Frye (dfrye2@umw.edu) to set up an appointment.
DC Plans Overview UMW 11-11-14
20143 VRS Individual Meeting Announcement UMW 11-11-14 pm
20143 VRS Individual Meeting Announcement UMW 11-11-14

Upcoming Professional Development Opportunities:

 Presentations by Anthem, our Employee Assistance Program provider:

Creating a Positive Work Environment – October 30  from 1:00-2:00pm (ITCC, room 210 )

Topics covered in this seminar are: building trust, positive communication, setting expectations and needs, creative ideas for recognition and rewards, building team work, finding meaning in your work, accepting responsibility and humor in the workplace.

Assertive Communication – November 4 from 9:00 am – 10:00 am (Lee Hall, 412)

This class on communication will cover good vs. poor communication, as well as understanding what assertive communication is. We will review a communication model to determine the purpose, focus and process of assertive communication. Tips and obstacles to good communication will be reviewed.

Stress Reduction Tool Bag – December 4, 2014 from 3:00 – 4:00 pm (Lee Hall, 412)

How do you know you are stressed? Do you recognize the symptoms of stress? Explore the newest research, and what experts are saying about good and bad stress. Participants will gain the tools to manage stress, including mindful communication.

To register for the EAP sessions, please go to: https://covkc.virginia.gov/umw/Kview/CustomCodeBehind/Customization/Login/COV_Login.aspx

  1. Log into UMW Global
  2. Go into the Learning Center.
  3. Select Course Catalog.
  4. Enter the search terms:  UMW, EAP.
  5. Click search.
  6. Click on the title of the course you are interested in registering for.
  7. Click on the title again in the new page that opened up for you.
  8. Click Enroll.

If you have any questions or need accommodations please contact Jennifer Cooper (jcooper4@umw.edu or x1046) in the Office of Human Resources.

October 19-25 is National Save for Retirement Week. It’s Closer than you think!

Did you know that you will need a minimum of 80% of your pre-retirement income to live comfortably during retirement. Your UMW retirement and Social Security benefits are only a foundation. You will need a savings to help fund your retirement.

Spend some time looking at your finances and evaluating your retirement goals. During this week take a fresh look at your savings strategy and get prepared for retirement. There are benefits in saving for your retirement and now is a great time to begin to take advantage of our employer sponsored plans (457 Deferred Compensation Plan and 403(b) Tax Deferred Savings Plan) and receive the Cash Match on one of your tax deferred election.

• If you save just $20 per pay in a tax-deferred savings plan, earning an average rate of return of 7%, you could have more than $100,000 in your account in 40 years.

Each day this week, access the tools and resources that are available to help you save for your future on the HR webpage.

Also we have scheduled our TIAA CREF Representative to be onsite for individual account counseling on Thursday, 10/23, and our 457 Deferred Compensation Representative to be on site for individual account counseling on Tuesday, 11/11. Please set up your appointment because retirement is closer than you think.

National Save for Retirement Week Tools and Resources that are available to help you save for your future:
VRS participants – View your annual Member Benefit Profile at http://www.varetire.org/members/mbp/index.asp

Education and Counseling at http://www.varetire.org/members/education/index.asp

ORP Participants – View your providers (TIAA CREF or Fidelity) website for your benefit estimates

Hybrid Retirment Plan members – Are You on Track?  This new course details Hybrid Retirement Plan benefits and methods of saving and investing.

Tax Deferred Savings Plan (TDSP) –
The University offers optional employer sponsored savings plans that allow employees to tax-defer income and invest for their future. The 403(b) plans are available through our approved Vendor List and the Commonwealth Deferred Compensation 457(b) plan is offered through ICMA-RC

Both plans are open to all employees who can contribute a minimum of $10 per pay day. Full Time Employee* contributions will be matched at 50% up to a maximum of $20.00 per pay day. *Employees participating in the VRS Hybrid plan and a TDSP are only eligible to receive the TDSP Cash Match if they contribute the full 4% Optional Voluntary Contribution in their defined contribution account.

The 2014 IRS maximum contribution is $17,500. If you are 50 years or older you may defer $23,000.

457 Deferred Compensation Plan
The Commonwealth of Virginia 457 Deferred Compensation Plan can help you picture a secure financial future by offering you the opportunity to plan for your retirement. It is available to you as a convenient way to save for retirement. And the sooner you start participating in the Plan, the sooner you begin enjoying the benefits of before-tax savings, a cash match, and tax-deferred growth and compounding.

403(b) Tax Deferred Savings Plan
The University’s 403(b) retirement plan lets you put a portion of your salary into an employer-sponsored plan to help you save for retirement.

Education and Counseling courses at http://www.varetire.org/members/education/index.asp

Money Matters for Virginians
Brush up on your financial knowledge through convenient online modules at http://www.varetire.org/money-matters.asp

Are you on Track? Webinar at http://www.varetire.org/members/education/schedule.asp?sect=1&topic=1

Upcoming Live Webinars at http://www.varetirement.org/dcp/upcoming-live-webinars.html

Virginia Credit Union Services
Financial Counseling and Resources
Retirement Plan Resources

Impact of Same Sex Ruling on Commonwealth Health Benefits

Based on Virginia’s recent legal recognition of same-sex marriages, we want to provide you with information about the impact of that decision on health benefits.  Please see Impact of Same Sex Ruling on Commonwealth Health Benefits for more information.

October is Optional Retirement Plan Participants Open Enrollment

October is Optional Retirement Plan Participants Open Enrollment:  During the month of October, participants of the Optional Retirement Plan for Higher Education (ORPHE) may change providers.  The two available ORPHE providers are Fidelity Investments and TIAA-CREF.   Open Enrollment information.

Fidelity individual counseling appointments for 10/20/14 in GW 106. – just added 1/21/15 – Sign up instructions coming soon!

TIAA-CREF individual counseling appointments for 10/23/14 in GW 106.- just added: 12/17 – Sign up instructions coming soon!


Free Flu Shots

Free flu shots are available again this year at pharmacies participating in your health plan’s network – COVA Care, COVA HDHP and COVA HealthAware. Members also may receive flu shots at no cost from network physicians’ offices and other participating providers. Kaiser Permanente HMO members must go to a participating Kaiser medical center.

Additional 2014-2015 Flu Shot information is located at

VRS Hybrid Members Only

This is a friendly reminder that the First Quarter 2015 deadline for members making or updating Hybrid voluntary contributions is Monday, December 15, 2014.

Plan Features of Hybrid Retirement Plan PDF and last quarter Investment Performance.

New Incentive Programs Added

For some long-term health conditions, you may receive certain drugs or supplies at NO COST:  http://www.dhrm.virginia.gov/docs/default-source/benefitsdocuments/ohb/myactivehealthflyer.pdf?sfvrsn=2

State Employee Discounts –

A number of discounts are available through the Department of Human Resource Management: http://www.dhrm.virginia.gov/employeediscounts.html