Retirement Income Account

Employee Contributions – Eligibility: Immediate for all paid Employees

All employees may begin contributing to the LG Health Retirement Income Account (RIA) immediately upon hire. If you do not elect otherwise, 6% of your eligible pay will be deducted from your paycheck and deposited into your RIA as a pre-tax contribution after 45 days of employment with LG Health. You have the option to start, stop, increase or decrease your contribution percentage or decline participation in the Retirement Income Account at any time by logging on to lghealthretire.org.

  • Note: Declining participation during the first 45 days of employment does not prevent you from participating in the RIA in the future. Your 6% pre-tax contribution will be increased each July*, in 1% increments – not to exceed 10% of your pay.

*Applicable to employees hired at least six months prior.

Employer Contributions – Eligibility: Immediate for all paid Employees

In addition to your own contributions, LG Health will make pre-tax employer contributions to your RIA.

Beginning with your first paycheck, LG Health will contribute 2% of your eligible bi-weekly compensation (whether you are actively contributing or not) as an Employer Basic Contribution*. LG Health will also match your contributions, $.50 on every $1 you contribute, up to 6% of your compensation (you must be actively contributing to receive the Employer Matching Contribution).

*May differ per hiring entity.

Other Important Plan Information

You must complete three years of service, working 1,000 hours or more in each calendar year, to become 100% vested in the LG Health Employer Basic and Matching Contributions. You are always 100% vested in your own contributions.

  • Hint: Your vested retirement benefits are the portion of your account that you own and are entitled to receive when you separate employment or take distributions.

Employees may contribute the lesser of 75% of eligible compensation, or $18,000 in 2017. Employees age 50 or older may contribute an additional $6,000. Employee contributions may be pre-tax or Roth (after tax); all employer contributions will be deposited pre-tax. Numerous investment options are available, including mutual funds and Vanguard Target Retirement Funds. Loans and hardship withdrawals are available if certain conditions are met.

Accessing Your Retirement Income Account

To start, stop, increase or decrease contributions to your Retirement Income Account, log onto Prudential’s website lghealthretire.org or call Prudential Retirement toll-free at 1-844-544-7381, Monday to Friday, 8:00 am – 9:00 pm EST. This link can also be used to designate a beneficiary for your account and/or make investment elections.

Prudential Counselor Available – At no cost to you

Whatever your retirement goals, Prudential has the people, guidance and investments to help you find your way. To schedule a one-on-one appointment with Mike Phyillaier, our on-site Prudential Counselor, call 1-844-544-7381 and select option 2, Monday to Friday, 8:00 am to 9:00 pm EST or submit your request online.

Unable to meet in person? Get help when and where you need it! Call 1-844-544-7381 for an over-the-phone consultation. Prudential representatives are available Monday to Friday, 8:00 am to 9:00 pm EST.

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