Strategies to Help You Save for Retirement

You know the importance of saving as much as you can in the RIT Retirement Savings Plan.  You know you need to increase your contribution but you haven’t yet.  Maybe you’re too busy or maybe the time never seems right. The good news is there are ways to make this easier. 


If you want to increase a little bit every year – We have the program for you, Automatic Increase.  You simply choose to increase your contribution every year and the rest happens automatically.  Every year your contribution will go up by the percent you elect.  It’s easy, you can make this election through Fidelity’s website or by giving them a call.  For more information please visit the HR website and click on the link called How to Make Contribution and Investment Changes.


If you want to save as much as legally allowed – Join the Max-Out Club.  If you join the Max-Out Club, we will calculate the contribution percentage needed to reach the IRS maximum allowed contribution by the end of each calendar year.  We’ll even update your contribution with Fidelity when you join.  In subsequent years we’ll calculate the percentage you need to reach the maximum for the following calendar year and let you know so you can ensure you keep contributing the maximum allowed by law.  To enroll in the Max-Out Club, complete the form called Retirement Savings Plan Maximum Contribution Election found in the forms section of the HR website.