HR News Continued…
November Newsletter
Doctor Visits through LiveHealth Online
As part of the MyUSA Health benefit, those BFFs enrolled in an Anthem medical plan through MyUSA have access to Live Health Online. This service offers you an on-demand way to get care when you’re feeling under the weather or can’t get to your regular doctor. Talk with a board-certified doctor, psychiatrist or licensed therapist from your smartphone, tablet or computer anytime. To see more details on this program click here (please link to the LiveHealth Online PDF). Please note that there is a cost associated with these visits, just like any doctor visit, and varies with each MyUSA medical plan.
October Newsletter
It’s a Great Day to Revisit Your 401k!
CUNA Mutual is our current 401k provider and every BFF has full access to manage their 401k 24/7 at https://www.benefitsforyou.com/. On this website you can find a variety of tools and resources to assist you, including short educational videos. If you have not set up your 401k yet, here is an introductory video https://p.widencdn.net/2ekial/Quick-Take-Enrollment
If you would like to add or change a beneficiary on your 401k or have an existing 401k with a previous employer that you’d like to move over, contact the Human Resources Internal Use email group and you will be sent a detailed set of instructions.
FAQs on MyUSA’s 401k:
Does MyUSA match my contribution? Yes, MyUSA matches the first 3% of your salary that you contribute to your 401k dollar for dollar (100%). MyUSA then matches 50% of the next 2% of your salary. So, if you contribute 5% or more of your Salary, the company match equates to a total of 4% of your salary. Here is an example:
Employee Betty Rubble makes $16/hr. and works 40 hours per week. This equates to 80 hours worked and a bi-weekly salary of $1,280 ($16 x 80 hrs.). Betty Rubble contributes 5% of her salary to her 401k equaling $64 per pay period. Betty’s employer, ABC Company, matches her contribution 100% of the first 3% of her pay and then 50% for the next 2% of her pay. Her employer’s contribution totals $51.20 per pay period. In total, Betty is saving $115.20 every paycheck for her retirement. This totals out to $2,995.20 per year. See the breakdown in the chart below.
What if I terminate employment with MyUSA, do I get to take my 401k match with me? This is called vesting and yes, you do, according to the vesting schedule. You are fully vested after five years of employment.
Where can I find this information? In the Safe Harbor notice which is provided to employees upon hire and annually.
What is vesting? Vesting refers to your “ownership” of a benefit from the Plan. The money that you contribute and the money that your 401k earns are always 100% vested (i.e. you have full ownership of those funds). Any rollover or transfer contributions you make are also 100% vested.
Is there someone I can talk to about my MyUSA 401K? Yes, CUNA Mutual has professionals on-hand to assist with your questions about the 401k program. Simply call 1-800-999-8786. Click here to see what they can help you with https://p.widencdn.net/kaj1vr/Investor-Guidance-Center-Video
Is there someone I can talk to at MyUSA about saving for the future? Yes, our very own CFS Financial Advisors Brent Ross x5808 and Zack Jablonski x4022 are at your disposal. Simply send them an email or give them a call to set up an appointment.
401k Checklist
- Take advantage of your employer’s contribution matching by contributing the same amount
- Be sure there is a beneficiary listed on your 401k
- Positively empower yourself by talking to a trusted advisor like Brent or Zack to learn more about saving for the future