Page 16 - Acadia 2024 Benefits Guide | Erlanger
P. 16
Your Path to Retirement
401(k) Retirement Plan
The 401(k) Plan is designed to help you achieve your
retirement goals.
You may enroll by contacting Empower at 866.467.7756
or by using the online enrollment option available at
www.empowermyretirement.com.
You are eligible to receive a discretionary employer match if you
are making an active deferral contribution. The discretionary
employer match is contributed at each pay period and can be
viewed on both your payroll statement and within your 401K
account. The plan includes a four-year graded vesting schedule
for employer matching contributions.
You may choose to make contributions up to the annual
IRS maximum, $23,000 in 2024*. Contributions may be
designated as traditional pre-tax contributions, after-tax Roth
contributions, or a combination of both without exceeding the
IRS annual limit.
Participants turning age 50 or older during the plan year may
contribute an additional $7,500*.
You may choose from several investment options for your
contributions. You can increase, decrease, or stop your
contribution at any time. You can also make changes to your
investments when needed.
Contact Empower at 866.467.7756 or go online at
www.empowermyretirement.com to:
y Join/Change your contribution percentage
y Change/Make investment allocation changes
y Update/Designate your Beneiciary information
y Process Rollovers and Withdrawals
y Find resources and interactive planning tools
y Discuss any questions regarding the plan
y Obtain a summary of plan provisions
* The 401(k) maximum contribution is subject to change for 2024.
For additional information please reference the IRS website,
www.IRS.gov.
16 | Erlanger Behavioral Health
401(k) Retirement Plan
The 401(k) Plan is designed to help you achieve your
retirement goals.
You may enroll by contacting Empower at 866.467.7756
or by using the online enrollment option available at
www.empowermyretirement.com.
You are eligible to receive a discretionary employer match if you
are making an active deferral contribution. The discretionary
employer match is contributed at each pay period and can be
viewed on both your payroll statement and within your 401K
account. The plan includes a four-year graded vesting schedule
for employer matching contributions.
You may choose to make contributions up to the annual
IRS maximum, $23,000 in 2024*. Contributions may be
designated as traditional pre-tax contributions, after-tax Roth
contributions, or a combination of both without exceeding the
IRS annual limit.
Participants turning age 50 or older during the plan year may
contribute an additional $7,500*.
You may choose from several investment options for your
contributions. You can increase, decrease, or stop your
contribution at any time. You can also make changes to your
investments when needed.
Contact Empower at 866.467.7756 or go online at
www.empowermyretirement.com to:
y Join/Change your contribution percentage
y Change/Make investment allocation changes
y Update/Designate your Beneiciary information
y Process Rollovers and Withdrawals
y Find resources and interactive planning tools
y Discuss any questions regarding the plan
y Obtain a summary of plan provisions
* The 401(k) maximum contribution is subject to change for 2024.
For additional information please reference the IRS website,
www.IRS.gov.
16 | Erlanger Behavioral Health
