At our last town hall meeting, we shared that only 49% of staff are investing in our company’s 401(k) Plan due to barriers in eligibility, a long vesting period, and low matching contributions.

We then announced proposed upgrades to our current 401(k) plan to allow more team members to enroll, resulting in more of you having the opportunity to save for retirement. You asked for improved benefits – and we are listening and acting.

I am thrilled to share that we’ve received approval from our Board of Directors to make the following exciting Plan changes, effective October 1, 2022, to first appear in our 10/22 payroll:

If you haven’t started investing in a 401(k) Plan yet, now is a great time to start! The earlier you start investing, the bigger the payout will be when you retire. We recently shared this illustration at the Town Hall meeting, to demonstrate how quickly your money can grow the earlier you start investing:

Here are some highlights of eHealth Technologies’ 401(k) Plan:

  • Paycheck Deferrals
    • Contributions are taken from your pay before income taxes are applied. This lowers your taxable income, which, in turn, reduces your income taxes.
  • Company Match
    • eHealth Technologies can deposit matching contributions to your 401(k). This is free money!
  • Potential Tax Savings
    • In a 401(k), you don’t owe taxes annually on interest, dividends, or profits earned. You won’t pay taxes until you withdraw funds from the account.
  • Taking Loans
    • The eHealth Technologies 401(k) plan allows you to take a loan from your 401(k). However, it must be repaid via payroll deductions.
  • Roll Over
    • You can roll a 401(k) plan from a previous employer.

Ready to enroll? The changes are effective as of October 1 and you can enroll any time. Learn more by reading the steps below:

Easy Account Access

  • Visit myretirement.americanfunds.com to log in to your account.
  • When accessing your account for the first time, click on REGISTER.
  • If you need help accessing your account or prefer to manage your account by phone, call Participant Services at (800) 204-3731.

Click here for more information about this website’s features and resources, right at your fingertips.

If you have any questions or would like to schedule a 20-minute one-on-one appointment with Mackenzi Sprinter from Novem, you can make an appointment between 12 p.m. and 4 p.m. on September 20, 2022 by contacting Michelle Halloran.