Note: The University does NOT provide financial, tax, or investment advice.
Lenoir-Rhyne does, however, provide referral for financial counsel. At no expense to yourself, you can attend financial seminars offered regularly on campus by representatives of companies with whom the college encourages faculty and staff to do business. These typically are informal small group sessions which introduce you to certified financial planners and qualified advisors for pension, insurance, investments, planned giving, and banking.
These companies offer some free consultation prior to your having to make a commitment. Available to all full- and part-time employees, these services are not only for those with significant resources for investment. Financial plan and insurance needs review, budget, and cash flow concerns are for everyone, regardless of estate size. Should you decide to do business with them, payroll deduction service is available with the following companies. See the "Links" section at the end of this document for their Internet addresses, or contact the benefits office for more information.
TIAA-CREF is the University-sponsored pension company; it is the only vehicle to which the college makes contributions for employees. In addition to the basic pension, faculty and staff may take advantage of other financial and investment opportunities by virtue of employment at a participating institution. These include Group Supplemental Retirement Annuities (SRAs), Individual Retirement Accounts (IRAs), mutual funds, additional life insurance and long-term care insurance. Employees of TIAA-CREF are salaried, not commissioned. Investments carry no loads. Individual telephone counseling is available until 11:00 p.m. weekdays and for limited weekend hours at 1-800-842-2776. You can also conduct business over the Internet by using your Personal Identification Number (PIN) on their website at www.tiaa-cref.org/lrc.
Thrivent is a fraternal organization providing an array of financial services, including savings, investments, and insurances. By virtue of working at Lenoir-Rhyne you are "Lutheran enough" to work with them. If you are a member of a Lutheran congregation you probably already have a representative. If you are not a member of a Lutheran congregation, the college contact person is your representative. A history of grants to Lutheran education institutions, including many to Lenoir-Rhyne, and matching gifts programs enhance the effectiveness of University employees’ relationship with these entities.
American Express Financial Services (formerly IDS) is a for-profit corporation providing a similar array of financial services. Their primary emphasis is on financial planning.
US Savings Bonds provide a convenient and reliable means of savings. With a minimum payroll deduction of $50 per month you may purchase either Series EE or I-Bonds. Your Bond will come to your home address in US Mail. More information is available in the benefits office or on the web at www.savingsbonds.gov and www.treasurydirect.gov.
Credit Unions, which are non-profit, generally offer higher returns on savings and investments, and lower fees on services and loans, than do commercial banks. The University sponsors two credit unions, Members and Shuford. For more information, check their websites at www.memcu.com and www.shufordcu.org