Page 51 - SIH 2022 Re-Enrollment Guide
P. 51
2022
SIH Benefits Re-Enrollment
Ordinary income tax will apply to pretax distributions Loans
and nonqualiied distributions of Roth earnings.* The SIH Plan allows you to borrow the lesser of
Distributions received prior to age 59½ may also $50,000 or 50% of your eligible total vested account
be assessed a 10% early withdrawal federal tax balance. The minimum loan amount is $1,000, and
penalty. Refer to the Summary Plan Description you have up to 60 months to repay your general
for more information about distributions. The purpose loan or up to 180 months if the money is
Summary Plan Description can be found online by used to purchase your primary residence.
visiting Employee Self Service and Beneits Plans
& Coverage under the Home tab on the Lawson Beneficiary
Dashboards and at beneits.sih.net. If you do
not have access to a computer, printed copies are You must select a beneiciary for your account. You
available upon request from Human Resources. can view or change your beneiciary information
at any time by logging in to your account at
Rollovers empowermyretirement.com. You should check this
Only approved balances from a 401(k), 403(b), or information periodically to make sure it is up to date.
401(a) plan; an eligible governmental 457(b) plan; or If you are married, federal law says your spouse is
an individual retirement account (IRA) may be rolled automatically the beneiciary of your 401(k) account.
over to the plan. As with any inancial decision, you You should still complete the beneiciary information
are encouraged to discuss moving money between with your spouse’s information for the record. If you
accounts, including rollovers, with a inancial advisor want to name a beneiciary who is someone other
and to consider costs, risks, investment options, and than your spouse, your spouse must sign a notarized
limitations prior to investing. waiver. If you are single, you can name whomever
you choose as a beneiciary.
If your minor children are your beneiciaries,
consider this carefully.
Empower Retirement Medicare Basics
Contact Information Healthcare expenses in retirement could be a huge
Online: empowermyretirement.com expense. It’s important to have a solid understanding of
Medicare basics, including costs and beneits. We have
resources at SIH to help you better understand Medicare
Phone: 833.SIH.401K/833.744.4015 and how it afects your retirement planning. Use the
contact information below to take advantage of Medicare
You may also access your 401(k) account and other counseling.
Empower resources via Single Sign On through the SIH
beneits enrollment portal at beneits.sih.net. You can
access the website anytime and anywhere using your Contact Information
laptop, mobile device, or home/work computer. If you Milly Kaiser, Medicare Counselor
use an SIH computer at work, the computer automatically Ext. 67856
knows your login information. From home, log in using milly.kaiser@sih.net
the SIH username and password you use on your work
computer. Once you log in, click the 401(k) tab to launch
the Empower portal.
51
SIH Benefits Re-Enrollment
Ordinary income tax will apply to pretax distributions Loans
and nonqualiied distributions of Roth earnings.* The SIH Plan allows you to borrow the lesser of
Distributions received prior to age 59½ may also $50,000 or 50% of your eligible total vested account
be assessed a 10% early withdrawal federal tax balance. The minimum loan amount is $1,000, and
penalty. Refer to the Summary Plan Description you have up to 60 months to repay your general
for more information about distributions. The purpose loan or up to 180 months if the money is
Summary Plan Description can be found online by used to purchase your primary residence.
visiting Employee Self Service and Beneits Plans
& Coverage under the Home tab on the Lawson Beneficiary
Dashboards and at beneits.sih.net. If you do
not have access to a computer, printed copies are You must select a beneiciary for your account. You
available upon request from Human Resources. can view or change your beneiciary information
at any time by logging in to your account at
Rollovers empowermyretirement.com. You should check this
Only approved balances from a 401(k), 403(b), or information periodically to make sure it is up to date.
401(a) plan; an eligible governmental 457(b) plan; or If you are married, federal law says your spouse is
an individual retirement account (IRA) may be rolled automatically the beneiciary of your 401(k) account.
over to the plan. As with any inancial decision, you You should still complete the beneiciary information
are encouraged to discuss moving money between with your spouse’s information for the record. If you
accounts, including rollovers, with a inancial advisor want to name a beneiciary who is someone other
and to consider costs, risks, investment options, and than your spouse, your spouse must sign a notarized
limitations prior to investing. waiver. If you are single, you can name whomever
you choose as a beneiciary.
If your minor children are your beneiciaries,
consider this carefully.
Empower Retirement Medicare Basics
Contact Information Healthcare expenses in retirement could be a huge
Online: empowermyretirement.com expense. It’s important to have a solid understanding of
Medicare basics, including costs and beneits. We have
resources at SIH to help you better understand Medicare
Phone: 833.SIH.401K/833.744.4015 and how it afects your retirement planning. Use the
contact information below to take advantage of Medicare
You may also access your 401(k) account and other counseling.
Empower resources via Single Sign On through the SIH
beneits enrollment portal at beneits.sih.net. You can
access the website anytime and anywhere using your Contact Information
laptop, mobile device, or home/work computer. If you Milly Kaiser, Medicare Counselor
use an SIH computer at work, the computer automatically Ext. 67856
knows your login information. From home, log in using milly.kaiser@sih.net
the SIH username and password you use on your work
computer. Once you log in, click the 401(k) tab to launch
the Empower portal.
51
