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Temporary Reduction
Temporary Salary Reduction
As indicated in Dr. David K. Wilson’s communication to the Morgan State University community on October 7, 2020, the University will implement a temporary salary reduction for all employees whose annual salaries are $70,000 or more. Employees whose annual salaries are under $70,000 will not experience a salary reduction. The following tier system will determine the percentage of the temporary salary reductions:
$325,000 and above
$150,000 to $324,999
$100,000 to $149,999
$70,000 to $99,999
$0 to $69,999 5%
4%
3%
2%
0%
The amount of the temporary salary reduction will be spread over 17 pay periods beginning with the October 28, 2020 paycheck, and ending with the June 9, 2021 paycheck. A list of frequently asked questions (FAQs) are available by clicking here. Employees who have questions should contact Armada W. Grant at armada.grant@morgan.edu.
October is Women's Health Month....
October is Women's Health Month and the State of Maryland has put together a robust program to assist women on their personal health journeys that includes weekly webinars for each step of the journey.
The State of Maryland will cover women's health issues, women's wellness, the stages of women's health, and women's emotional health.
October "Healthy U" focus is Emotional Wellbeing. "Healthy U" isn't just for women, everyone is invited to participate! There are a few remaining webinars on emotional wellbeing that include secrets to a calm mind, how to transform thinking, and understanding depression.
October is Women's Health Month - Visit the SOM Wellness Website for information!
Meet one-on-one with a Fidelity Retirement Planner by phone or by video.
First, thank you for the work you do. There’s no debating - this is a
challenging time.
But with everything that’s going on, we want to continue to show up for you in ways both new and familiar. In order to proactively protect you and your family from any potential exposure to COVID-19 (coronavirus), it has been determined that meetings with your Fidelity Investments Retirement Planner will be conducted over the phone for the foreseeable future. You're not alone. Schedule your appointment today!
Schedule your appointment to discuss your current financial concerns at GetGuidance.fidelity.com Meet Your Fidelity Retirement Planners
Punchai “Paul” Vutiprichar
Investing involves risk, including risk of loss. Please do not respond to this e-mail. This mailbox is not monitored, and you will not receive a response. Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917. © 2017 - 2020 FMR LLC. All rights reserved. 922712.2.61
IMPORTANT INFORMATION ABOUT TIAA-CREF
TIAA-CREF conducts telephone consults with our campus community for the 403b Optional Retirement Plans (ORP) and the Group Supplemental Retirement Accounts (GSRA) and will provide personalized attention to your inquiries. The ORP offers a myriad of investment options or you may select the life cycle fund account which is a one-step investing model that allocates your investments automatically throughout your employment. The GSRA is a great way to save more for retirement with pre-tax salary deferrals which lower your income taxes, in most cases. Our representative is Mr. Mark Peloquin and his contact information is:
Mark J. Peloquin Senior Financial Consultant | TIAA Financial Solutions TIAA 1410 Clarkview Road Baltimore, MD 21209 Office: 410.578.2229 mark.peloquin@tiaa.org
Metropolitan Life Insurance Company - METLIFE
METLIFE Retirewise® — As a foundation to the workshop series, MetLife’s four-part, award-winning Retirewise program offers comprehensive financial and retirement education for all employees — regardless of their age or career stage. Broad spectrums of financial topics are covered in each of the one-hour sessions ranging from budgeting and investment principles to tax strategies and estate planning. We have established these four workshops which will be held at 11:00 a.m. on each date: October 22nd , October 29th, November 5th and November 12th for an hour. Plan to attend and receive a wealth of information to help you make the best decisions regarding your future retirement. These educational sessions are offered through an independent vendor and for informational purposes only. TIAA-CREF, FIDELITY, Maryland State Retirement Pension systems and Nationwide Retirement Solutions (GSRA) remain our primary contacts for retirement plans and group supplemental retirement accounts, respectively.
Click to download Retirewise Workbook Click to download Retirewise Exercise Book
Reserve your spot!
Workshop details Session 1: Thursday, October 22, 2020 Session 2: Thursday, October 29, 2020 Session 3: Thursday, November 5, 2020 Session 4: Thursday, November 12, 2020 Time: 11:00 am - 12:00 pm EST If asked for company name, enter Morgan State University Can't attend but still need help with financial questions? You can still sign up for a free, no pressure, no obligation personal consultation. Click here. For more information click here.
