Retirement Savings

McLeod understands that preparing for a comfortable retirement is a shared responsibility. That’s why we offer a 401(k) plan, which can help you save for the future and ensure your financial security. This plan offers you, if eligible, ways to save using before- and after-tax dollars from your pay. McLeod helps your savings grow by matching your contributions.

Who is eligible

All active employees are eligible to contribute following 30 days of employment.

Plan administrator

Fidelity Investments

Your contributions

Before-Tax – Money you contribute is before taxes, so it costs you less today to save.

After-Tax (Roth) Contributions – Money you contribute is after taxes, saving you taxes when you withdraw money from your retirement account.

Catch-Up Contributions – Individuals who are 50 or older may elect to make additional “catch up” contributions to their account.

McLeod matching contributions

McLeod contributes $1 for every dollar on the first 1% and $.50 on the next 2% to 6% that you contribute, if eligible.

Changing contributions

You can increase, decrease or suspend contributions at any time.

Tax-deferred growth

Any earnings on your accounts grow on a tax-free basis.

Vesting

You become 100% vested in the McLeod Health matching contribution after two years of vesting credit. See the Summary Plan Description at Oracle On-line located in the left panel of the Compass for details.

Automatic deferrals

You are automatically set up to defer 3% but you can increase or decrease this amount. These contributions are automatically deducted from your paycheck and added to your account.

Auto escalation (up to 10%)

If you do not make an active election, your contribution will increase 1% each year, after the first full year.

Investment options

A broad range of investment options are available to help you build, diversify and maintain your savings over time based on your needs and savings goals.

Plan For Retirement Using The App

Fidelity Investments

The app includes a retirement income estimator, insights, resources, and tools to help you get where you want to be.
SEARCH: Fidelity Investments
- App Store
- Google Play

For more information, contact Fidelity Retirement Service Center at 1-800-343-0860 or go to www.netbenefits.com/atwork.

Benefits

Benefits Menu

Fidelity Investments