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Financial Fitness Blog

Are you on the move?

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N'Kenza WhitlowIf you recently moved or have plans to move this fall, please let us know your new address.

  • Contact us directly at 1-800-279-4030 or log into yourMONEY to change your address on your retirement savings accounts.
  • If you also have your auto or home insurance with us, you can use our online Update Your Policy form or call 1-800-279-4010 to make the change.

N’Kenza Whitlow, Retirement Savings Consultant

Time is running out to nominate a financial mentor

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Jay LukasDo you have a colleague who has helped you or others with good advice on financial planning and saving for retirement? We've heard from many educators who say that person made a big impact on their life. Some comments we've received for current nominees include:

  • "I have the utmost respect for him as an educator and mentor. He mentors not only me but many more he comes in contact with."
  • "She does an amazing job in being a mentor for staff and encouraging them to save. She is really making a difference."
  • "He stresses good financial habits and is always willing to help answer questions or suggest a resource."

Why not give that helpful someone you know some recognition by nominating them for Member Benefits' 2015 Financial Mentor Award? It only takes a minute to submit online.

Nominations are being accepted now through September 4. Just go to weabenefits.com/mentor and nominate someone today. 

Award winners will be announced on October 19. They will also be mentioned in a short article in your$ magazine and receive a certificate of recognition.

Jay Lukas, Assistant RIS Consultant

Don’t miss a chance to boost your savings

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Laura KampsNow is a good time to update your Salary Reduction Agreement (SRA) to take advantage of new 2015 403(b) contribution limits. Do it now and you’ll be ready to go for the school year.

To update your SRA, please contact your school district business office for their most recent SRA, download our SRA, or if your district allows, you can update your SRA online through yourMONEY account access.

Laura Kamps, RIS Specialist

yourMONEY features you’ll want to use

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Laura KampsDon't miss these great features when you log in to your personal account. On your home page after logging into yourMONEY, you can:

  • View your consolidated allocation, get a statement, change investments, check your performance, and research investment options. You can also update your address, beneficiaries, and communication preferences.
  • Visit the Financial Resource Center under the Information and Tools section. This site offers a wealth of financial resources and tools organized by age group. Take advantage of financial calculators and learn more about managing your money, keeping taxes under control, investing in your future, planning your estate, and much more.

If you have any questions, call us at 1-800-279-4030 or send an email to retirement@weabenefits.com.

Laura Kamps, RIS Specialist

Member Benefits’ investment options quick reference

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Brenda EcheverriaIn our August 3, 2015 article, “What’s your investment style?” we illustrated that how you decide to invest should be based on what kind of investor you are. Once you know your investor style and understand your risk tolerance, you can make more informed choices about your specific investments. Details are in the article, but read on for a quick summary of our investment options.

Model portfolios*

A pre-defined portfolio based on your age, risk tolerance, and your retirement timeline.

Features and facts include:

  • Small investment of time and low maintenance.
  • No additional fees to invest in a model portfolio.
  • Auto-rebalances each year so your investment mix aligns with your investment goals.
  • Risk Profile Assessment required every three years.

NOTE: This is a managed fund option. You cannot mix a model portfolio with other investments in our fund line up.

Target Retirement Funds

A one-decision investment option.

  • Choose the fund nearest your retirement or withdrawal date.

Target Retirement Funds are managed funds that automatically rebalance each year and become more conservative as you near retirement.

Do-it-yourself

A hands-on approach. You are in charge.

  • Select and monitor your investments.
  • Rebalance your allocations as needed for fund growth or life changes.

Give us a call if you have questions or would like any assistance at 1-800-279-4030.

Brenda Echeverria, Financial Planner

This article is for informational purposes only and is not intended to constitute legal, financial, or tax advice. Certain recommendations or guidelines may not be appropriate for everyone. Consult your personal advisor or attorney for advice specific to your unique circumstances before taking action.

The 403(b) retirement program is offered by the WEA TSA Trust. TSA program registered representatives are licensed through WEA Investment Services, Inc., member FINRA. The Trustee Custodian for the WEAC IRA accounts is Newport Trust Company.

Keep in mind that mutual fund investments are not guaranteed and may gain or lose value. Past performance is no guarantee for future results. Future performance may be lower or higher than past performance. Before investing in any mutual fund, call WEA Member Benefits at 1-800-279-4030 to request a prospectus. We advise you to read it carefully and consider the fund’s investment objectives, risks, and charges and expenses carefully before investing. The prospectus contains this and other information about the investment company.

*Model Performance
The reported performance of the models is hypothetical yet based on actual performance of the underlying mutual funds and their corresponding weightings. The performance data on the underlying funds was derived from Morningstar®, an independent third party. The illustration does not reflect the actual performance of individual investors in the models. Investment models are not FDIC-insured, and they are not bank-guaranteed. Investment models may lose value. Past performance is no guarantee of future results. Model performance returns illustrate the relationship between risk and reward. The WEA Member Benefits model portfolios are risk based. The more conservative the underlying asset weightings are, the lower the expected rate of return. Because of market changes, the makeup of your actual account portfolio will not exactly match the model portfolio. We may perform periodic adjustments of the model portfolio investments and rebalancing of your account to more closely match the model portfolio you select. Model portfolios are developed by WEA Financial Advisors, Inc., (WEA FA) under the oversight of the WEA Member Benefits Investment Committee. Model portfolios may be adjusted at the discretion of WEA FA and the Investment Committee with prior notice to you. From time-to-time there may be extraordinary situations that will warrant more scrutiny when making adjustments. An example is the market downturn in October 2008. Although WEA FA carefully evaluates the makeup of the portfolios on a regular basis, we make no representation regarding the likelihood or probability that any or all of the portfolios will in fact achieve a particular investment goal or fulfill the risk tolerance profile as described for each portfolio. As a self-directed investor, you should carefully consider the merit and appropriateness of the available investments under your district’s retirement plan in light of your own personal financial circumstances, including your other assets, income, investments, and/or cash flow needs.

Reassess Your Investment Needs Regularly
Because your needs, goals, portfolio, and situation may change over time, be sure to reevaluate your investment strategy at least once a year. You can always choose a different model or create your own mix. Redemption fees may apply. When participating in a WEA Member Benefits model portfolio, you must complete the Risk Profile Questionnaire every three years. You may not continue to use the model portfolio option if you do not timely complete a Risk Profile Questionnaire. In such an event, and if we receive no other instruction from you, your plan assets will be moved to your plan’s QDIA (qualified default investment alternative).