Tera Rogers acts as a bridge of sorts—connecting the world of the business office to the world of teachers to help them become financially secure and to build staff retention.
She certainly has teaching cred. Tera started off as a middle and high school business education teacher in 2004 and taught at three different districts for 16 years. She also worked with Junior Achievement kids.
“I had been encouraged by a mentor to step into administration at Cedar Grove, and so I transitioned into my current position as business manager in 2020. Without his support, I would never have taken this path.
“As a teacher in business education, a big part of what I taught was financial literacy. While I work on the administrative side now, financial literacy is still ingrained in the teacher side of me,” Tera explains. “My mentor happened to be a big advocate of Member Benefits. I was in the Port Washington-Saukville School District for the majority of my career, and the business manager there and the union were also very strong supporters. They always made sure that Member Benefits was providing the educational side for the staff. So I took that mentality and brought it into my current position.”
Providing financial wellness support for staff
As a business manager, Tera has built an active approach to employee financial wellness under the principle that financially secure employees are happier, less stressed, and more effective in the classroom. Here are her cornerstones.
Automatic enrollment. Tera implemented an auto enroll program for the district’s 403(b) program. This means all eligible employees are considered participants of the 403(b) plan (at a default contribution percentage established by the district) unless they opt out, which they can do at any time. “I tell people, ‘WRS is an advantage we have, but so is our 403(b). It’s just as important,’” she emphasizes. “Automatic enrollment is a good way to help jump-start retirement savings. I often say, if you can start saving when you’re starting out, even at just 1%, it will make a difference. I encourage everyone to do it.”
Rollover guidance. For more veteran teachers who start working at the district, Tera asks them about their 403(b). “Do you have one? Can I help you roll it over? Can we get one started? Because it’s just so important,” she says. “I had a gentleman say to me once, ‘You can take out loans for anything, but you can’t take out a loan to retire.’ It really brought home the importance of saving as much as possible outside of relying on WRS.”
Health savings account (HSA) education. “I push HSAs hard with my staff,” Tera states. “We have a high deductible health insurance plan and we go up every year in staff contributions because they see the value in it as a tool for financial stability. It’s simply one piece of a well-rounded financial strategy.”
Bringing in Member Benefits representatives. Consultants from Member Benefits, who are all retired teachers, provide free financial consultations to school districts who offer our 403(b). They can answer general retirement questions, review current accounts, or offer tips for purchasing auto and home insurance. “I feel like it’s my responsibility to provide different opportunities for my employees, so I’ve been scheduling more individual financial consultations with Mark Resch from Member Benefits,” says Tera.
“I’ve had amazing feedback regarding Mark. I always worry we’re going to waste his time because we’re not going to fill up the schedule. But every time he comes in, he’s booked the entire day,” she laughs. “The staff say they want him to come in more frequently. So I go back to my administrators and say, ‘Hey, this is really valuable. People are liking this. We need to provide it.’”
Impact on the workplace
Workplace culture is a top priority for Tera. And helping staff get their finances in place is a key part of that culture. “Unfortunately, as a business manager, you’re not always looked upon very favorably, because you have to make the hard decisions. You have to say no to people.
“As a teacher, it was like, oh, I have to go in and talk to the business manager. This is a big deal,” explains Tera. “But I want my staff to know that they can just come in and talk to me. I think being visible, bringing in resources, and being the connection with that gives them opportunities to connect with me and build that relationship.”
The use of financial education and relationship building has helped Tera’s district drive up staff satisfaction and higher retention rates. “I do think that being in a small district and having a sense of community really helps keep people here. I really appreciate it. And I think knowing that staff can approach me and the district office helps,” she says. “Putting myself in front of our staff builds a relationship between our teachers and the business office. From my viewpoint, that kind of connection only strengthens our workplace culture.”
A personal partnership with Member Benefits
Retirement. Tera doesn’t remember a time during her career when she wasn’t contributing to her Member Benefits 403(b). “As I’ve moved in my career, my contributions have increased because I’ve been able to. I prioritize that. And I always get a kick out of the statements—it’s like, wow, look, I’m 44 and I have this much money. And I know that there’s a lot of people who don’t,” she states.
“As a small business owner, my husband invests separately. I have my 403(b) and WRS. I’m working right now to be able to be financially secure between those two accounts.”
Retirement is a happy thought for both Tera and her husband, but it’s not a main focus. “Neither one of us want to fully retire right away—I want to work at a library, perhaps. But we do have goals we want to achieve, like paying off the house by the time our boys go off to school.
“When I look at my childhood, my parents didn’t have a lot,” she adds. “I lost my dad within the last year and a half and now see what my mom doesn’t have. She’s 72 and still working because they didn’t have the same opportunities. In retirement, I want to be able to travel. I want to be able to be an amazing grandma and provide for my kids. So maintaining my quality of life once we retire, enjoying that time, and not being worried constantly after working our entire lives is really our end goal.”
Insurance. When Tera first started teaching in 2004, she had renters insurance with Member Benefits. Currently, she and her husband have their automobiles and house insured with us.
“When we bought the house we’re currently in, we were in an apartment for a little while. And the gentleman at Member Benefits that I spoke with was amazing about educating me,” says Tera. “He talked to us about renters insurance for the storage unit that our valuables were in while we were in transition. That to me was a highlight. And I just really appreciated the time he took. I felt like he cared, like he didn’t want to see us just fall flat with this move that we were making.
“Then I just had to call the other day and switch auto policies as we have a new 16-year-old driver in our house. The gentleman I spoke with helped me switch the policies and then talked me through what that looks like from an insurance perspective with having a male teen driver. He was very patient with me and answered all my questions. He walked me through it. I didn’t feel like I was inconveniencing him. He quoted me with the good student discount and without the good student discount, and explained how that all works.
“I always feel like I can call Member Benefits and ask questions,” Tera emphasizes. “And I really appreciate that as a member, the people I call will always take the time to teach me about the products and why I should have them. That’s why I’ve personally been with Member Benefits for as long as I’ve been in education.”
Creating opportunity
Tera’s approach toward finances is empathy-first. She also believes staff support is an essential business responsibility. “Everyone has different financial backgrounds and situations, so I want to give them resources and opportunities to make informed decisions for themselves. Not every district does that. We’re small enough that I can. And I take a lot of pride in that.”
- Hear more from Tera and other fellow educators in our Educator to Educator video series.
- Learn more from your colleagues’ experiences and advice by visiting yourSTORY: Members helping members.
- Want to bring a Member Benefits representative to your district? Call 1-800-279-4030 to inquire.