Penn Faculty Benefits News: February 21, 2018

• Set reachable goals—Creating a plan that fits your budget and goals can help you stick to it.
• Pay yourself first—Setting up automatic deposits can help make saving a routine so you don’t have to remember.
• Use the right tools—Using financial calculators can help you track your progress and see if changes are needed.
• Protect your accounts—Taking some simple steps may help ensure your savings won’t end up in the wrong hands.

Find more on savings tips and other insights on the TIAA website.

You can also schedule a free on-campus counseling session with a representative from one of Penn’s retirement savings plan providers to help you with your investment choices.

TIAA      877-736-6738                                                       Counseling Sessions with TIAA:                           Schedule online or call 800-732-8353

Vanguard 800-523-1188 Counseling Sessions with Vanguard: Schedule online or call 800-662-0106 ext.14500

---

Penn’s New-Child Benefits

Expecting a new baby, adopting a toddler, or welcoming in a foster child can bring joy and excitement. But along with the elation comes new financial responsibilities and the challenges of balancing work and your home life. Penn provides a variety of benefits to help parents get off to a great start.

Time Off
Many parents will need time off when a new child arrives. Penn’s Faculty Handbook and New Child Policy outline the types of leaves available. Other policies regarding needed time away from work can be found here.

Health and Life Insurance Coverage
Parents don’t have to wait until the annual benefits Open Enrollment period to add their new dependent to Penn health or life insurance. In fact, faculty and staff enroll their new child in their benefits plan within the first 30 days of a birth or adoption. You can enroll online or contact the Penn Benefits Center at 1-888-PENN-BEN (1-888-736-6236). Be sure to review the University’s health care plans online for coverage and cost details.

Additional Benefits
Penn’s Adoption Assistance Program provides reimbursement for up to $5,000 in eligible adoption expenses. If you have healthcare expenses not covered by your insurance, a Health Care Flexible Spending Account can help you save on taxes for eligible medical expenses. When it comes time to enroll your child in day care, Penn has an option for you. You can use a Dependent Care Flexible Spending Account to help you save on taxes for daycare expenses.

Work-Life
Penn offers many services to ease the tensions and help parents achieve a work-life balance. These services include:

• The Employee Assistance Program provides free, confidential one-on-one support for personal issues and major life changes, such as a new child. The EAP is available 24 hours a day, 7 days a week by calling 1-888-321-4433.
• Nursing Mothers Program offers resources, support groups, and lactation rooms to assist new mothers.
• Penn Children’s Center provides childcare for children ages three months to five years.
• Personal Assisted Search, offered through Care.com, helps new parents with a wide range of dependent care challenges such as finding child care, school-age care, summer camp programs and elder care services.
• Backup Care provides temporary in-home and in-center backup care services 7 days a week, day or night, while you work.
• Snow Day Child Care provides day care for children ages 12 weeks to 12 years when Philadelphia public schools are closed but Penn is open.

Expectant parents or those who are new to parenting can also attend the New and Expectant Parent Briefing on March 7, 12:30-1:30 p.m. Click here to register for this event.  

Visit www.hr.upenn.edu/work-life or http://provost.upenn.edu/faculty for more details about Penn’s family-friendly benefits.