Mid-year (July) is a great time to do a check-up on how you're doing with saving for retirement. What are you doing well? What adjustments can you make? Use this Retirement Checklist and get signed up for some great prizes while boosting your retirement account! What are you waiting for? Jump in to begin earning points for our drawings.
- Log in to your Account on Principal.com
- Work through the Retirement Checklist below
- Use this Google Form to track and submit what you've completed. (You must be logged into your Reliant.org email address to submit this form.)
This contest closes 7/30/20 11:59 PM Eastern time. Winners will be announced on Staffnet and email on July 31st! |
Check In
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Complete all four steps for one entry in the drawing for a box of energy bars to be shipped to your door (2 lucky winners will be selected)
Is your address up to date? Select the My Profile button from the top corner of your screen to view and change your address. |
Is your beneficiary information up to date? Have you recently got married or had a baby? On the Overview Tab, under Beneficiary, review who you have listed as your beneficiary. Make changes as needed. |
Review your contribution dollar amount. On the Contributions tab, under Manage Contributions, If you're able, consider updating/increasing your contribution rate. |
Review your balance. On the main Overview page of your 401(k) account. Note: The rate of return will show a loss for the year 2020, due to market fluctuations. We'll talk about how to view that balance and loss in light of the market's past performance in the next step. |
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Stay on the Path
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Complete the four steps below for one entry in the drawing for a S'well Stainless Steel Water Bottle (or equivalent alternative of your choice) to be shipped to your door (2 lucky winners will be selected)
- How close are your monthly contributions to Reliant's 5% match? Reliant will match dollar-for-dollar up to 5% of your monthly salary (including parsonage). Here is a quick example: John Smith has an annual salary of $45,000 as a campus minister. He makes $3,750 per month, so his 5% match each month would be $187.50. Calculate your 5% match and compare that 5% amount to what you're contributing to 401(k). If you're contributing under 5%, consider increasing your contribution to maximize your match.
- How on track are you for retirement? On the Planning Resources tab, under Retirement Wellness Planner enter your current information to calculate your Retirement Wellness Score. If this score is in the Red or Yellow,take a little time to prayerfully and thoughtfully consider what steps you may be able to take over the next few months/years to increase that score (Principal's Retirement Wellness Planner is a great resource to assist you in this planning).
- Have more than one retirement account or IRA? Check out how to rollover funds into your Principal account on the Rollovers tab.
- Pick one (or more) of the Topics below to read about or watch a short, recent video by our 401(K) broker Michael Clark.
Ask a Professional "Guide" - learn from the best
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Review the steps below for one entry in the drawing for the grand prize America the Beautiful National Parks and Federal Recreational Lands Pass (1 Domestic Reliant employee winner will be selected, *International Missionaries - In lieu of the America the Beautiful National Parks and Federal Recreational Lands Pass Reliant will provide an alternate Grand Prize winner and will reimburse one lucky International missionary up to $50 towards the purchase of an annual/seasonal/or other frequency pass to a national park (or equivalent outdoors area) in your country of service, for you to enjoy.)
- Need some information on retirement and financial planning for the future? Check out one of the informational articles under the Planning Resources - Education Hub section.
- Optional - Need someone to talk it through? Consider setting up a 20 minute Zoom call with Michael Clark, our Retirement Plan Advisor with Keiron. Email Michael's assistant Katrina.hopkins@raymondjames.com to set-up a time. (Consultations are free and included with our 401(k) plan - for more information of what to expect see https://keiron.wistia.com/medias/3kirbzq9b4?wtime=3s.)
- Now that you know your Retirement Wellness Score, download the Principal App to monitor your score and keep track of your progress.