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Free, financial literacy workshops slated for Oct. 27

A financial advisor from PricewaterhouseCoopers will be on campus, Oct. 27, to lead a series of financial literacy workshops. Sponsored by Human Resources, the classes include:

  • Cash and debt management: learn how to build a budget, manage debt, and improve your credit score, 4 p.m., Watkins G06.
  • Financial planning 101: learn about savings, debt management, and the financial planning process, noon, Bentley Lounge (lunch will be served).
  • Retirement planning basics (under age 50): formulate a retirement plan and learn about various savings plans, 2:30 p.m., Watkins G06.
  • Retirement planning (age 50+): assess your retirement cash flow needs and evaluate your retirement plan options, 10 a.m., Bentley Lounge.

  Participants are encouraged to take PricewaterhouseCoopers’ free, confidential financial fitness assessment prior to the workshops. The assessment is available at www.american.edu/hr/Wellness.cfm.

 

AU offers generous short-term, long-term disability benefits

Only 34 percent of AU employees who participated in PricewaterhouseCooopers’ financial fitness assessment know they have disability insurance.

Although we don’t like to think about it, studies show that a 20-year-old worker has a 3-in-10 chance of becoming disabled before reaching retirement age, according to the Social Security Administration. Human Resources wants to remind all full-time faculty and staff that this benefit provides important salary and benefits continuation and protection.

AU short-term disability insurance—which covers all full-time faculty immediately upon hiring and full-time staff after six months of employment—covers 100 percent of pay for up to six months and includes benefits. Employees don’t have to opt-in to the plan; they’re automatically enrolled, and AU covers 100 percent of the cost.

AU also offers a generous long-term disability plan, in which full-time employees are automatically enrolled after one year of service. The premium is shared between the university and the employee. If one were to become disabled, the plan pays 60 percent of base salary—only half of which is taxable. The plan ensures that faculty and staff continue to receive up to a 15 percent contribution to their Fidelity or TIAA-CREF account while on disability. Other university-offered benefits may continue while on long-term disability, including health, dental, and educational benefits.

For more information about AU benefits, contact HR at 885-2591.