New Financial Resources at Your Fingertips

Personal finances are often on many people's minds.  Navigating the nitty-gritty of budgets, savings, taxes, and retirement can feel time-consuming and stressful.  Fortunately, Life & Work Connections (LWC) provides University of Arizona benefits-eligible employees free access to financial specialists and planners to help employees feel empowered instead.

"We want employees to have the tools and support they need to meet their financial goals," says Josephine Corder, Director, Life and Work Connections. "Whether it’s creating a basic budget, planning for retirement, buying a house, or handling an unexpected expense."

Benefit-eligible employees currently have access to free financial planners and specialists through three resources: ComPsych FinancialConnect®, TIAA, and Fidelity.

Through ComPsych FinancialConnect, employees can access free unlimited, on-demand financial guidance from a team of certified financial specialists and receive referrals to local community providers. These certified financial specialists can help with a broad range of issues like family budgeting, credit problems, tax questions, estate planning, insurance, and money management.

"We’re a great first step for any kind of financial issue that’s presenting a problem, doesn’t matter what it is," says John Jones, Team Leader for ComPsych FinancialConnect. "We try to provide good information that is easy to understand and helps them to take action."

It can take as little as 10 minutes to get an answer or guidance to additional resources. For more complex issues such as credit card debt, complex tax issues, and retirement planning, employees would receive a free referral to a local provider, although the services may cost a fee.

For additional support in planning for retirement, any benefits-eligible employee, whether enrolled in Optional Retirement Plan (ORP) or Arizona State Retirement System, can consult with TIAA or Fidelity for free.

"We provide financial advice because we want University of Arizona employees to be engaged with their retirement plan," says Aaron Knode, Communications Consultant Director, TIAA. "We really want them to take advantage of our advice, whether it's online, through the phone with the phone representative, or with one of our local representatives."

Employees can schedule a consultation with a financial professional and discuss different issues. These can include reviewing their overall retirement savings portfolio--no matter where their retirement assets are at, provide help with budgeting, debt management, emergency savings, and the financial basics.

"Many people don’t have a goal or a plan and don’t know where to start," says Dan Anderson, Director, Communications Consultant, Fidelity Investments. "A financial professional can assess where someone is at financially, find out their goals and help create a plan to help them get there. It doesn’t matter if you’re young and starting out in the workforce, or if you’re about to retire, or somewhere in between."

Both TIAA and Fidelity offer live workshops on topics such as debt management, income diversification, retirement income, and more.

TIAA also offers access to a new benefit called the Savi student debt solution, which helps employees with student debt work through federal repayment plans and loan forgiveness programs. Savi’s savings calculator tool provides individualized options for loan repayment and helps employees navigate the rules and application process of forgiveness programs. It also provides ways to lower monthly payments. 

We all must deal with finances in one way or another. Utilize the tools and resources available to help you make the most of them.  To learn about these financial wellness resources and see upcoming workshops on the Life and Work Connections website.