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Financial Fitness Blog

New educators can learn a lot with the Don’t Be Jack™ game

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Ana BonjourIn our article, “Personal finance lessons: 4 insights for new educators,” new teacher Molly Walsh Anderson shared important financial lessons she’s learned that she wants to pass on to others.

Some of those lessons were from playing Member Benefits’ Don’t Be Jack interactive board game, which puts a fun twist on financial education. “Playing the game opened my eyes to a lot of things that I needed to be prepared for and got me thinking about my future. So for example, when I graduated from college, I opened a retirement account. I’m not putting that much money in right now, but I know it’s going to make a big difference later.” (If you’re skeptical about how saving a small amount can add up to big savings, check out this compound interest calculator to see what a big difference starting early makes.)

In the Don’t Be Jack game, teams compete while they learn about the advantages or consequences of certain financial actions. It’s a great way to learn about financial issues that impact Wisconsin public school employees.

Learn more and request a game for your district by visiting our Don’t Be Jack web page, sending us an email, or calling 1-800-279-4030.

Ana Bonjour, Worksite Benefit Consultant 

Deadlines are coming up before you know it

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Jay Lukas403(b) and IRA exchanges/transfers/rollovers

Exchanges, transfers, and rollovers require a longer processing time. Your completed paperwork (including approved third-party administrator transaction authorization if applicable) will be submitted to the payer company by the end of December if we receive it by December 10, 2016. This includes requests for IRA recharacterizations and conversions. Call us at 1-800-279-4030 if you have any questions. We’re happy to help you through the process.

Postdated checks

We are not able to accept IRA contribution checks written and received this tax year (2016) for next tax year (2017). Postdated checks will be returned.

Year-end withdrawal deadlines

If you would like to take a lump sum withdrawal from your 403(b) or IRA accounts before the end of 2016, your request must be received by us on or before December 16, 2016. Requests received after this date may not be processed before year-end.

Jay Lukas, Assistant RIS Consultant