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April 2021 Benefits Newsletter: Financial Literacy Month

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The connection between financial health and personal health are more connected than you may think. High levels of financial stress manifest through physical symptoms like sleep loss, anxiety, headaches/migraines, compromised immune systems, digestive issues, high blood pressure, muscle tension, heart arrhythmia, depression and a feeling of being overwhelmed. Your over-all health can directly benefit from healthy finances and your County benefits can help you achieve and maintain your financial well-being! Read on!

Claremont EAP can help get your finances in order! Through the County’s Employee Assistance Program, you can avail of free professional telephonic consultation on a range of important financial. To speak to a financial specialist, or access other EAP services, please call Claremont at 800-834-3773.

The County of San Mateo offers employees basic life insurance coverage based on the corresponding Memorandum of Understanding (MOU) or Board Resolution. Eligible employees also have the opportunity to increase this coverage at any time of year by creating an Additional Life Insurance event in Workday and completing the online Evidence of Insurability Form. For more information, visit the Benefits website.

As a covered employee under The Standard Insurance, you have access to Life Services Toolkit that can help you and your family plan for the future. The resources and tools make it easy to locate services such as pet sitter and schools, create a will online, and calculate cost and savings.

The 457 deferred compensation plans allow you to save and invest money for retirement with tax benefits. They are designed to supplement your retirement income. While a pension and/or Social Security may go a long way, they are unlikely to be enough. Saving to your 457 plan(s) can help you maintain your desired standard of living.

You have the option to contribute on a pre-tax basis and/or Roth after-tax basis, not to exceed IRS annual contribution limits.  Click here for step-by-step instructions on how to enroll or change your biweekly contribution amount at any time in Workday.

For forms, plan information, education materials and to view your retirement, please visit San Mateo County's page on the Empower website at www.viewmyretirement.com/sanmateocounty

Virtual Financial Trainings
Join your Empower Representative from 12pm to 1pm for virtual financial trainings designed to help you understand and achieve financial wellness.

Sign-up through LMS and earn 1 hour of credit towards your LMS training goal for each session you attend!

  • 457b Options in Retirement: April 22
  • Managing Risk in Your Retirement Account: April 28
  • Roth Conversions and Contributions: April 21 or 29

One of the leading causes of stress and strained relationships is money. That's why County of San Mateo has a long standing partnership with San Mateo Credit Union (SMCU) to provide you with exclusive financial offers, services, and education.

Please visit the page for County of San Mateo employees for more information on how to join and active your exclusive benefits: https://smcu.org/county

Are you Retiring soon or interested in learning more about your Retiree Health options? This class is designed to help you understand Retiree Health Benefits when you decide to retire. Sign-up through LMS! Virtual Retiree Health Informational Session: Thursday, April 22, 10:00am – 12:00pm

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