When buying insurance policies you often have choices between different types of coverage. 

Coverage typically starts with a basic plan and then you have options to upgrade your coverage to add additional features for an additional cost. 

We've tailored a checklist for your Retirement Plan this year using this theme of insurance coverage packages. 

For every "coverage" package you review & you complete, please fill out the google form and you will be entered in a drawing for gift card drawings.

Every year it's helpful to take time to log in to your 403(b) account with Principal and review these essential Basic features and aspects of your retirement account. 

• Is my beneficiary info up to date? If not, see Changes to Beneficiaries.
• Is the amount I'm contributing from my paychecks into the 403(b) Plan what I expected it is or not what I want it to be? If not see Changes to Contributions.
• Am I happy with my investment performance? If not, see Changes to Investments to make changes or set-up a free consultation with our 403(b) Plan Financial Advisor Michael Clark.

Employer retirement plans offer some coverages that a personal IRA don't have - most importantly an Employer Contribution!

Understanding the employer contribution benefit available to you is crucial to be able to ensure you're getting the Standard benefits all Reliant employees have access to.

Employees of Reliant have two options for an employer contribution, based on their employee type and fundraising goal model. 

In both cases, the funds used for the employer contribution are raised as a part of the employee's goal. The employer contribution is 100% "vested" at the point the employee is eligible for ther 403(b) Plan.  "Vested" means that those contributions are yours to keep even after you exit employment with Reliant. 

Find the option below that best fits your role and review the steps we recommend to ensure you're getting the best benefit for your situation.

• Career employees are eligible for a 5% employer-match.  If you are not contributing 5% of your eligible wages to 403(b) then you are missing out on the opportunity be matched 5% and increase your retirement savings. Review your budget and consider increasing your elected paycheck contribution, to ensure you're getting the maximum 5% match benefit. Note: the employer match is calculated and deducted from the MTD account automatically every month, if you are in this career employee category.
• Fixed term employees have a special option to elect an employer contribution that is deducted monthly from the MTD account and deposited into the retirement account with Principal.  There is no obligation for the employee to contribute from their paychecks to be eligible for this benefit, however we encourage employees to also consider contributing from their paychecks into 403(B) if they are able to do so.  The employer contribution is determined by your program team leadership and will be incorporated into your fundraising goal.  Note: To ensure you are Fixed term for 403(b) classification purposes, please confirm your  classification status with your program team.  The definition of this class is slightly different from that of regular employment classifications with Reliant.

Premium coverage is for someone that's not only trying to protect themselves from major losses.

Premium coverage users value their investment, understand its worth, and are willing to "pay more now" to gain more benefit in the future.  

When viewing your retirement plan from this perspective, you'll want to think about best practices for saving, to ensure your nest egg is substantial enough for your expected future financial needs.

• The Principal website has a tool to help you assess your Retirement Wellness Score.  This tool can be found under the "Planning Resources" tab. If you've never done this assessment we encourage you to fill it out and get your initial Retirement Wellness Score. if you've already done the assessment, review your score and look at the "My Progress" tab for tips.  Consider making some adjustments to improve your score. 
• The Planning Resources on Principal has a section "Principal Milestones" - spend 5-15 minutes exploring these options, including some of the Enrich educational resources. Enrich has some good tools to help lower the stress you may feel about money.

No, there is no change to part-time employees' eligibility. Part-time employees will be eligible for the 403(b)(9) plan the same as they are for the 401(k) plan.