When you started contributing to U-M's Retirement Savings Plans, Life Insurance Plans and other investments, you named people and/or causes that you wanted to support financially in the event of your death.
What's happened in your life since then? Did you have children? Marry or divorce? Have you become passionate about certain charitable causes?
These details matter because the money you've accumulated goes to whomever's name(s) appear in the beneficiary section of your retirement, life insurance and other investment accounts. Many don't think to update this information as time – and life – move forward. And this could cause your hard-earned savings to go to a person or cause no longer dear to your heart.
What is a Beneficiary?
A beneficiary is the person(s) or organizations that you want to inherit your retirement, insurance and other savings after you pass away. A beneficiary in these accounts is separate from the beneficiary of a will or estate plan; all must be updated separately. Visit the Your Beneficiaries web page to learn more so you can protect the ones you love and the causes you cherish.
Learn by Livestream
Whether you're interested in protecting beneficiaries, saving for retirement or other financial matters, Fidelity and TIAA can help. Both offer several live and on-demand events each month on a variety of topics. These online events are free and take place on Eastern Time.
Fidelity
Women Talk Money: Your Money Routine, Your Rules
Wednesday, Jan. 14; 2-2:45 p.m.
This conversation will help guide you through the process of creating a sustainable money routine that can help support your goals, reduce financial stress, and empower you to stay motivated. Topics will include:
- A framework for monthly, quarterly and annual financial to-dos
- Evaluating your money habits to identify what’s helping or what’s holding you back
- Mindset shifts to make managing your money feel like an opportunity to build your future
- What a money date with yourself could look like and how often to "check in"
Following the Fundamentals
Tuesday, Jan. 27; noon-1 p.m.
During this live, interactive webinar, you'll learn about Fidelity's tools and resources to evaluate the overall market, sectors and industries from the top-down to the bottom-up. You'll also have the opportunity to submit questions to be answered in real time.
To view more educational events, go to fidelityevents.com/allevents/special.
TIAA
Quarterly Economic and Market Update
Wednesday, Jan. 14; noon-1 p.m.
TIAA specialists will discuss what to expect from the economy and financial markets in 2026, including:
- The state of the U.S. economy and key market drivers
- Factors influencing market volatility
- Investing in public markets
Smooth Transitions: Financial Tips for a Job Change
Wednesday, Jan. 21; noon-12:30 p.m.
Are you new to U-M and wondering how to manage investments from previous jobs? During this webinar, you'll learn practical tips to ease your financial landing, such as:
- Reviewing your budget
- Managing your retirement accounts
- Updating your beneficiaries
- Planning for health care
- Building your emergency fund
TIAA also offers a curated library of on-demand webinars that address three main subjects:
- Save for your goals
- Manage your finances
- Protect your future
To explore TIAA's webinar library, go to the TIAA webinar scheduling page.
Check In to Check Out
Events are great ways to increase your financial knowledge, but they can't replace personal connection with your TIAA or Fidelity retirement specialist. You can meet with a strategist virtually, by phone or in person for optimal convenience. Evolving technology allows them to screen-share so you can see your account information in real-time.
To schedule your one-on-one appointment:
- Visit Fidelity's scheduling page or call (800) 642-7131, weekdays from 8 a.m. to midnight. Fidelity offers appointments exclusively for U-M employees every Tuesday from 8:30 a.m. to 5 p.m.
- Visit tiaa.org/schedulenow or call (800) 732-8353, weekdays from 8 a.m. to 10 p.m.
Help at MHealthy
MHealthy also offers several resources to assist faculty and staff with improving their financial well-being. These include education programs and resources, coaches, and immediate assistance for those who need help now.