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Managing Your Money in Times of Uncertainty
The coronavirus has upended the way we work, the way we interact, and the way we deal with money. When things get crazy it is easy to panic! It is easy to be confused, and it is easy to just give up and do nothing. This session will walk through some of the money issues that you may be faced with no matter your financial or work status. Even when it is not the coronavirus causing the turmoil, we should be prepared for times when our world is turned upside down. Join Brett Olsen, Associate Professor of Finance, as he leads this Zoom session on Wednesday, May 20 at 11 a.m. Please register in advance.
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TIAA May Financial Wellness Webinars
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- May 12 | 11 a.m. to 12 p.m. CST
- May 12 | 2 to 3 p.m. CST
- Start to Finish: The Early Career Woman’s Guide to Financial Wisdom
- May 13 | 11 a.m. to 12 p.m. CST
- Lifetime Income: Marketproof Your Retirement
- May 13 | 2 to 3 p.m. CST
- Paying Yourself: Income Options in Retirement
- May 14 | 11 a.m. to 12 p.m. CST
- The 411 on 529 College Savings Plans
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Times through the webinar link will be shown in Eastern Standard Time.
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Participation in events that occur during scheduled working hours must be approved by your supervisor. Employees on a university-approved leave should contact hrs-leaves@uni.edu for approval.
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- Penalties and withholding are waived for qualified distributions from our TIAA retirement plan accounts.
- TIAA retirement plan loan limits have been increased.
- Optional suspension of required TIAA minimum distributions (RMDs) for 2020.
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Try Not To Panic
These are certainly interesting times. The coronavirus pandemic has brought the mighty U.S. economy to a grinding halt as access to most businesses has slowed or stopped all together. The most recent data shows that Black Hawk is one of several counties in Iowa that will see this throttling of the economic engine continue. As this slowdown plods along, and with it the likely detrimental effects on our finances, it is easy to be worried, and maybe even start to panic. But be careful! Panic can lead to poor financial decisions, and really bad decisions can become nightmares down the road. So, what should we do when there is so much uncertainty around us?
If your household income has been significantly impaired, either by a reduction in hours or even a layoff, it is time to circle the wagons. Review your budget to find every area in which you can trim costs. You need to take care of the most important things first. Food and necessary medicines are at the top of the list. Keep your family fed. Next comes utilities. Keep the water running and the lights on. Next, make sure you pay your rent or mortgage and their related expenses, insurance and taxes. Finally, keep gas in your car and pay the car payment. Food, utilities, shelter, and transportation – those are the most critical items your budget needs to focus on. Some extra income to backfill during this time would go a long way, so look for opportunities around you.
If your household income is in no danger of being affected (think teachers, UPS employees, etc.), maintain business as usual. Whatever your financial plan is, keep on that path. You may want to start piling up cash in a savings account for your own peace of mind or to weather any future storm that may come.
For everyone, have a plan, and a household monthly budget is the foundation of any good financial plan. Most importantly, do not panic. Stay away from the payday lenders. Do not borrow from your 401k, even though the penalty has been waived. Tapping your retirement accounts unplugs productive investment money. Finally, don’t panic with your investments. Whether you are 25 or 65, your investments need to work for you over the long run. You will experience ups and downs, extreme highs and extreme lows. Don’t jump off the roller coaster in the middle of the ride. Continue your regular, periodic investments. If you review history, the markets come roaring back after the big drops, and you cannot capitalize on the ride up if you jumped off on the way down.
Article shared with permission from Brett Olsen, Associate Professor of Finance, University of Northern Iowa.
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Celebrate World No Tobacco Day
Each year on May 31, the World Health Organization, asks the world to join together and be tobacco free for one day. With the current global pandemic we are experiencing, there has never been a more important time for us to come together and quit tobacco for good. To help with quitting, UNI has partnered with MercyOne Wellness to provide virtual tobacco cessation courses that will be provided via Zoom.
A Certified Nurse Health Coach will guide and support participants through the steps to quit. The sessions are confidential, convenient and a safe way to participate during this time. The 8-week class (meeting 1-1 ½ hrs/week) will begin via video conference starting in June. Dates and times will be determined based on participant availability and schedule. If you are interested in learning more, or to enroll in the class email employeewellbeing@uni.edu.
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Sign-up for WW @ Work Anytime
Has being at home more impacted your eating habits? Are you looking for a way to get back on track and manage your weight in a healthy way? One proven program that has lasted the test of time is WW (formerly Weight Watchers). You and/or your spouse can join WW as a self-paying member and receive the UNI discounted membership price. Enrollment promotions change from month to month but the membership costs remain the same. To learn more and enroll visit: wellness.weightwatchers.com Use employer ID: 15316494, to access UNI member pricing.
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Use These Virtual Healthcare Services
UnityPoint and MercyOne hospitals and clinics have patient portals that allow patients to contact their care teams virtually. Through these platforms you are also able to request prescription refills, access test results, and read provider notes. If you see a physician through a private practice, please contact them prior to arriving at their office. Doctor on Demand, UNI’s option for a virtual office visit, allows 24/7 care for common symptoms.
There are also many options for contact free delivery of prescriptions. You are able to sign up for delivery of your maintenance drugs through CVS Caremark® Mail Order Pharmacy Services. Specialty prescriptions can also be delivered through CVS Pharmacy or through Hy-Vee Pharmacy, please review the Specialty Drug Ordering and Delivery flyer on how you can set up delivery options. For new prescriptions that are not considered maintenance or specialty, CVS Pharmacy can mail them to you free of charge. Utilizing these services lowers the risk of exposure and illness.
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Health Care Flexible Spending (FSA)
Due to the pandemic, changes in expected costs or changes in the scheduling of procedures are not considered a qualifying life event that would allow you to change your health care FSA contributions. The IRS has not made any announcements and the CARES Act did not make any changes that would allow health FSA elections to be changed in these circumstances.
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Subscribe to HRS Latest News and Events
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Be the first to hear the latest news and events from UNI Human Resource Services including benefits and well-being news. Subscribe to receive the HRS News emails right to your uni.edu email account.
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Is Your Personal Information Up-to-Date?
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To make changes to your office and/or home (confidential) contact information:
Login to MyUNIverse > My Page > Update My Personal Information. This information is sent to Human Resource Services and will be updated within four working days.
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Human Resource Services Contact Information
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Due to COVID-19 social distancing recommendations, Human Resource Services will not be accepting walk-ins.
Office hours will remain the same: Monday-Friday, 8:00 a.m. - 4:30 p.m.
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New Hires Needing to
Complete New Hire Paperwork
Call 319-273-2422 for further direction.
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Medicare Part B Forms*
Ensure section A of the form is complete and slide under the door. HRS Benefits will reach out by phone or email when complete.
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Benefit Self-Service Assistance
Call 319-273-2423 and we will assist
you while you are at an internet
enabled computer.
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Other Benefit or
Insurance Related Forms*
Slide employer portions under the door. HRS Benefits will reach out by phone or email when complete.
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*Please do not send personally identifiable information (e.g., social security numbers, birth dates, etc.) through email.
To contact a Human Resource Services staff directly, visit our Contact Us web page. If you are unsure who to contact, visit our About Us web page.
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