Employees may be eligible for loans or withdrawals from retirement plans, can utilize the university’s Wellbeing Hotline.
The university is providing resources for employees who may be affected by the government shutdown.
“The government shutdown has touched many members of our GW community personally,” said Sabrina Ellis, vice president for human resources. “Whether you are struggling with the financial or emotional impact of a furloughed family member or worrying about how uncertainty in the economy may affect your investments, we have resources that can help.”
Faculty and staff who participate in GW’s 403(b) Supplemental Retirement Plan and are experiencing significant financial need may be eligible for a loan against their plan or a financial hardship withdrawal from their plan account. Employees can speak with a retirement consultant at any time to understand their current investment options. Contact GW’s Benefits Administration department for more information at 703-726-8382 or [email protected] or contact GW’s retirement plan vendors directly at 1-800-343-0860 for Fidelity Investments or 1-800-842-2776 for TIAA-CREF.
For employees seeking financial or legal assistance, GW’s Wellbeing Hotline provides free access by phone to attorneys, certified public accountants and certified financial planners to help on a wide range of legal and financial concerns, including budgeting, getting out a debt, credit card and loan problems, bankruptcy and financial planning for emergencies.
Since financial concerns are a leading cause of stress, the Wellbeing Hotline also provides access to highly trained master’s- and doctoral-level clinicians to provide in-person counseling related to stress, relationship/marital conflicts, job pressure, grief and loss, and more. The hotline can be accessed toll-free 24/7 at 1-855-705-2471.
Employees can also access a host of materials online related to the government shutdown, as well as more general help with personal issues, planning for life events or simply managing daily life as part of the Wellbeing Hotline.