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Are you leaving money on the table?

Money on the table ImageWorklife Elevated article May/Jun 2014 Issue

Act now to take advantage of the free money available to you in the new 401(k) matching program. If you are already contributing to a URS 401(k) plan, you have been receiving the State match since January 4, 2014. If you are not contributing to a 401(k), you are leaving free money on the table.

The new Defined Contribution 401k matching benefit will work in the following way: You are eligible for the match if you are already receiving retirement benefits, are not an employee who is reemployed after retirement or an employee who does not accrue leave that carries over from one year to the next. For FY 2015, funding for the 401(k) matching program has been set at a maximum of $26 per pay period by the legislature. To start contributing to a 401(k) you will need to login to your URS account at www.urs.org and change your current deferral on your 401(k) to contribute at least $26 per pay period if you wish to receive the maximum $26 match.

Remember, this benefit is above and beyond other retirement benefits that you receive and adds to the rich benefits package that you enjoy with the State of Utah. Take advantage of this opportunity now!

Access the complete edition of Worklife Elevated  for more informative news!

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