COVID-19

Saving for retirement in a volatile market

Johns Hopkins' retirement plans' investment providers have a host of suggestions for how to approach saving for retirement in a time of volatility, as well as updates on how they're responding to their clients' needs as a result of COVID-19

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If stock market volatility has you on an emotional roller coaster, you're not alone. Anyone with savings in the stock market can relate to the stress of watching the latest market moves. Fortunately, there's help from the pros. Johns Hopkins' retirement plans' investment providers—Vanguard, Fidelity, and TIAA—have a host of suggestions for how to approach saving for retirement in a time of volatility, as well as updates on how they're responding to their clients' needs as a result of COVID-19.

HR's suggestions to help you make the most of their guidance:

Watch for email and check myChoices Retirement for resources

Be sure to watch for emails from plan providers, check myChoices Retirement, or log in via your plan provider's website to see the latest offerings.

To answer some common questions and offer updates, JHU's retirement savings plan providers are reaching out to plan participants via email, modifying their participant websites, and setting up webinars with timely advice based on recent events. Webinars are open to all JHU employees and are not just for participants who invest with a specific investment provider.

Vanguard, for example, is launching twice-weekly (Tuesday and Thursday) webinars for plan participants beginning Thursday, March 26 (register here). TIAA has scheduled a webinar called "Global Lookout: When Is it Safe to Come Out?" for 2 to 3 p.m. on Thursday, April 2 (register here). Fidelity recently conducted one that reviewed what is happening in the markets and why.

All webinars will be viewable even after their initial scheduled time, so if you miss one, you can catch up later.

Check out tips from all investment providers

You'll also find helpful general advice on investment providers' websites, regardless of whether you currently have your retirement plan account with them. No matter where your money is invested, take a little time to visit:

Be patient

If you're reaching out to providers with questions, please keep in mind that they are all experiencing higher-than-usual call volumes. Therefore, you may have to wait. The good news: All providers offer extended call center hours. They are reachable as follows:

  • Vanguard: 8:30 a.m. to 9 p.m., Monday to Friday, 800-523-1036
  • Fidelity: 8:30 a.m. to midnight, Monday to Friday, 800-343-0860
  • TIAA: 8 a.m. to 8 p.m., Monday to Friday; 9 a.m. to 6 p.m.; Saturday, 888-200-4074

Keep in mind, you can review your retirement account and make changes to your plan at any time through JHU's myChoices Retirement.

Schedule one-on-one help

Face-to-face meetings may be a no-go right now, but you can still schedule a one-on-one consultation via phone or virtually with your retirement plan provider. How to do it:

All information provided by JHU herein is general and educational in nature and is not an investment recommendation or being made in a fiduciary capacity.

Posted in Benefits+Perks