Happy Holidays!
The calendar year 2020 is almost over, the last day of pay period 27 ends on December 26, 2020.
If you are voluntarily setting aside a 403b pre-tax or 403b roth (after tax) deferral (payroll deduction), please consider adjusting your deferral for calendar year 2021. There will only be 26 pay periods in 2021, please refer to the Pay and Holiday Schedule 2021. You can plan accordingly.
Did you know the IRS maximum is the same for 2021? that means:
- If you are less than 50 in calendar year 2021, you can set aside $19,500.00 through payroll deductions. To max out, simply divide $19,500 by 26 = $750.00 per check
- If you are turning 50, or are already 50 in 2021, you are eligible for catch up, an additional $6,500.00, or a total of $26,000.00 through payroll deductions. To max out, simply divide $26,000 by 26 = $1000.00 per check.
Click here for information on how to set up a deferral. We also encourage you to designate beneficiaries for both your 401a and 403b plans by either setting it up online, or by completing the attached form and sending it back to HR benefits staff at hrbenefits@ykhc.org or fax to 907-543-6061.
Did you know you are eligible to receive free financial counseling advice with REDW Wealth, they are your financial specialists that can help you manage your retirement account by giving you advice on your investment strategy. Please contact Paul Madrid, REDW Wealth Principal at pmadrid@redw.com (or by phone at (505)998-3249) or Robert Elzholz, Senior Investment Manager at robert.elzholz@redw.com (or by phone at (602)730-3624).
Please keep in mind, on May 11, 2020, YKHC’s retirement plan with OneAmerica moved to the new website. Below are answers to questions you may have about the migration, which includes several updates to the website.
Included are instructions for setting up your 403b pre-tax and/or 403b roth after tax deferral amount.
You may be asking:
- Will my plan change with this migration?
- Your new plan number will be 963241 (401a employer match) & 963242 (voluntary employee deferral). You will be asked for the plan numbers when you contact the participant call center.
- What is the new participant call center number?
- 1-800-858-3829, the Participant Service Center hours are Monday – Friday, 8 a.m. – 10 p.m. Eastern Time.
- How will I access my accounts
- Click here for document “How to set up a deferral on the OAretirement site”
For help logging in, please call OneAmerica at 800-858-3829 for assistance.
For questions about this message, please contact HR benefits staff via email at hrbenefits@ykhc.org or call HR main number at 907-543-6060.