By deciding to plan and save for your retirement, you’ve made a decision you can feel good about. You've realized that a sound savings plan is key toward helping you achieve a more secure financial future.
FMOLHS retirement plans
All FMOLHS team members are eligible to make salary deferral contributions to the FMOLHS 403(b) plan. FMOLHS will make employer contributions in the 403(b) plan only, (Core and Match) as long as you:
- Work 1,000 or more hours in the current year and
- Are actively employed on December 31 of the current year
For more information on the retirement plan, review the enrollment kit.
In addition to the FMOLHS 403(b) plan, you have the ability to save additional dollars in the FMOLHS 457(b) plan. For more information on the 457(b) retirement plan, review the enrollment kit. *
Be generous to yourself and to your future
The sooner you start saving, the better. Once you decide to save for your retirement, the next step is to decide how much to save. Saving for retirement costs less than you may think. See how your retirement plan savings rate may impact your take-home pay by logging in to your account at LincolnFinancial.com/Retirement. You can also see how easy it can be to fit retirement savings into your budget and how much more you can save over time by starting now. FMOLHS will contribute 50% of each dollar you contribute up to the first 6% of your pay. In addition to the match, FMOLHS will contribute 2% of your pay as a Core contribution.
Once you decide how much you can save, either a flat dollar amount or a percentage of your wages will be automatically invested in your account each pay period.
Make the most of pretax and Roth after-tax contributions
Will you benefit most from saving for retirement on a pretax basis, a Roth after-tax basis or both? Explore the differences between Roth after-tax and traditional contributions.
Your FMOLHS pension account
The pension plan only applies to team members hired before a certain date. If applicable, you can access your pension account at retirementfocus.com to see general data, accrued pension benefit, vesting percentage and more. If you have questions, call 855-874-0011. If you’re enrolled in the FMOLHS 403(b) Plan, you’ll see your estimated pension benefit on your Lincoln quarterly statement. You can also find your pension balance in your account at LincolnFinancial.com . Please read this letter for more information.