2024 Benefits Booklet

Retirement Benefits

TABLE OF CONTENTS WELCOME..............................2 WHAT’S NEW........................3 HOW TO ENROLL......... 4-5 MEDICAL......................... 6-13 PRESCRIPTION DRUG.............................. 14-15 ADDITIONAL MEDICAL PLAN RESOURCES............... 16-18 DENTAL......................... 19-20 VISION....................................21 LIFECENTER........................22 LIFE INSURANCE.............23 DISABILITY..........................24 VOLUNTARY OFFERINGS................. 25-28 SPENDING ACCOUNTS.........................29 RETIREMENT BENEFITS..............................30 CONTACTS.................. 31-32

Empower Today Americans in general are living longer, healthier, more active lives. Whether you are beginning your first job, at the midpoint of your career or approaching retirement, your retirement savings plan is an essential part of your future financial security. AtlantiCare offers the following plans to assist you in saving for your retirement years: AtlantiCare 403(b) or 401(k) Savings Plan For new hires, there is a 2% auto enrollment in our 403(b)/401(k) plan unless you opt out within the first 60 days of employment. You can log in to www.empower-retirement.com and opt-out or increase your deferral amount. You can also contact Empower Customer Services at 1-833-467-7756 . These are defined contribution plans and your contributions are deposited before taxes, so your taxable income is lower. Earnings grow tax-deferred until you withdraw this money. In addition, AtlantiCare will match 25% of your contribution up to the first 4% of your salary that you defer. Once you have completed three years of service in which you work at least 500 hours in each year, you will be fully vested in this match. This means that if you leave employment with AtlantiCare after three years, you are eligible to take both the match money and your contributions. The money that you contribute is always fully vested. Once you complete 15 years or more of service, AtlantiCare will increase this match to 50% of your contribution up to the first 4% of your salary that you defer as of January 1 of the following Plan Year.

If you were hired on or after January 1, 2010, or are an employee of AtlantiCare Behavioral Health, AtlantiCare will provide you annually with a non- elective fully vested contribution equal to 3% of your eligible compensation to either our 403(b) or 401(k) plan, depending on the business unit where you work. Empower administers these plans. To receive this contribution, you must be at least 18, have been on payroll the last day of the plan year, and worked at least 1,000 hours in that year. If you were hired prior to January 1, 2010, you were eligible to participate in the AtlantiCare Retirement Savings Program. Your participation generally starts after you have worked a year with at least 1,000 hours worked and are age 21 or older. The plan is a defined benefit plan, meaning that benefits are payable to you at retirement according to a formula that reflects your service and compensation with AtlantiCare. This benefit is paid for entirely by AtlantiCare. You are vested in your benefit once you have been employed for five calendar years in which you worked 1,000 hours per year. CBIZ Retirement Plan Services administers this plan. Customer service representatives can be reached at 1-844-581-3665 or visit https://atlanticare.cbiz.com . Turning 65 and still working. You will become Medicare-eligible if turning age 65 in 2024. If you are still working at age 65 and have group coverage, you are not required to enroll in Medicare right away. You can delay enrolling in Medicare until your coverage ends. At that time, you will be eligible for a special enrollment period. If you are turning 65 or older and considering retiring, please contact Medicare three months before your retirement to discuss your Medicare options. For more information, please visit www.Medicare.gov or your local Social Security Office.

ROTH IRA – COMING SOON! Here’s what you need to know:

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Pre-tax contributions. Regular retirement plan contributions are “pre-tax.”That means the money you contribute goes into your account before your payroll taxes are taken out. This lowers your taxable income for the year, so you’ll enjoy a tax benefit today. Then, you’ll need to pay the taxes when the money is taken out, generally during retirement, when your tax rate may be lower than it is during your working years. Roth 403(b) contributions. Roth after-tax contributions go into your account after your money is taxed, so the withdrawals will be federal income tax-free at retirement (assuming you follow the withdrawal rules)*. This means making Roth contributions could be a smart move if you think your tax rate may be higher in retirement. With tax rates relatively low, Roth 403(b) contributions may be an especially attractive option right now.

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