401(k) Retirement Plan
Administered by Principal®
Helping you reach the peak of your retirement goals
Achieving your retirement dreams won’t happen by accident. To live the lifestyle you dream about, you’ll need to plan ahead and save. That’s why Immanuel is proud to offer a 401(k) retirement plan with up to a 6% match on your deferrals, after reaching a year of employment. Since you are fully vested in the match after three years, this can be one of the best tools available to help you reach your retirement goals.
Plan Summary Highlights
You want to live well when you retire and while you're working toward it. Saving a little each month and increasing it over time through an employer-sponsored 401(k) retirement plan is a convenient way to accomplish your goals. At Immanuel, we offer a plan administered by Principal for eligible employees. Here are some of the benefits of participating:
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Plan participants enjoy tax advantages. Any contributions you make to your 401(k) are taken directly from your paycheck before federal income taxes are withheld. Because the contributions are pre-tax, it lowers your total taxable income — meaning you might owe less in income taxes regardless of whether you itemize or take the standard deduction. It may even put you in a lower tax bracket! Your pre-tax contributions are tax-deferred until you withdraw them in retirement.
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You are always in control. You can contribute as much or as little as you want to your account, change or stop your deferrals at any time, roll other balances into your account and make voluntary contributions whenever you like. You can also elect to make Roth contributions with dollars already taxed, so you won’t have to pay taxes on qualified withdrawals, including earnings.
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Time is on your side. The earlier you start investing, the more time your money has to grow. One of the most significant advantages of investing in a 401(k) early is compound interest. It may not seem like much looking at your 401(k) in the early days, but compounding can have a big impact on long-term investment.
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You can take the account with you. Even if you change jobs, the money you’ve contributed to your 401(k) and its earnings belong to you. You are always 100% vested in the portion of the account balance from your deferrals, and you are 100% vested in the portion Immanuel matches after just three years.
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Saving is convenient. With Immanuel’s 401(k), you can make automatic contributions directly from your paycheck through payroll deduction. It makes saving a simple process. And, since the deduction is taken before you get paid, you probably won’t miss the money anyway!
Resources
Retirement Education Planning
Additional Information
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Create a Retirement Plan-A guide to creating your personalized retirement paycheck
Retirement Gift Selection
Benefit Forms
Benefit Notices
Contact Information
(800) 986-3343 | Principal.com
Need Help applying for Medicare? Medicare Consultants:
Immanuel's 401(k) Education Meetings:
We have Immanuel’s retirement vendor coming onsite to explain our retirement program. Learn about: Immanuel’s 401(k) Plan, how to join, resources to help you prepare for retirement and info on Immanuel’s financial wellness benefit through BrightDime.
RBC Contact Information
(The Garlock Wealth Planning Group) for Financial Investment Guidance:
John “Buzz” Garlock
402 392 6138
Cory Garlock
402 392 6108