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401k Retirement

All employees (full-time, part-time, PRN) are eligible to participate in RHA’s new 401k Retirement plan

Learn more about RHA's 401k


RHA Health Services 401k Retirement Plan
Sign up for your RHA 401k via two options:

Option #1:  Sign Up Online

Existing Wells Fargo Accounts
    1. Visit www.wellsfargo.com.
    2. Log in then follow the instructions.
Create a New Wells Fargo Account
    1. Visit www.wellsfargo.com
    2. Click 'sign up now' under the login box.
    3. Enter your Social Security number and email address to create an account.
    4. On the next screen, enter your date of birth
    5. Answer the security questions
    6. Accept the Wells Fargo Terms and Conditions
    7. Create your Wells Fargo Username and Password
    8. Validate your account by
      1. Go to the email account you entered
      2. Open the 'Complete your Wells Fargo Online Enrollment' email (check your spam or junk box)
      3. Re-sign into your Wells Fargo account and enter the Validation code in the email.
    9. On the Wells Fargo site, click on the RHA 401k account.  Don't be confused by the old 401a account.
    10. Personalize your profile by answering the prompted questions.  This is where you can choose retirement planning options
    11. Choose your communication delivery options (email or U.S. mail, Text Messaging)
    12. Set up your retirement plan through the Wells Fargo tool.  It will be helpful to have the information Wells Fargo sent to you.
Option #2:  Sign Up by Phone
  • Call Wells Fargo at 1-800-728-3123 Mon – Fri, 7am – 10pm.
The Wells Fargo account number for our new 401K plan is WF000RH4.

Overview of the Plan
  • For ALL Employees (FT & PT)
  • New Pre-tax Employee Contribution Plan.

Saving for the future is easy and convenient 

The RHA Health Services, LLC 401(k) Retirement Plan offers you an easy way to save for retirement.

Consider these reasons to take action and start saving for your future:
  • Maintain your current lifestyle in retirement. For each year of retirement, many experts suggest you’ll need at least 80% of your annual pre-retirement income to maintain your standard of living. Many people are living longer, which could mean a longer retirement and a need to save a larger amount of money.
  • Reduce your current tax bill and possibly boost your refund. Every pretax dollar you contribute to the plan reduces your current taxable income, which means you could lower your overall income taxes. You may also be eligible for the Saver’s Credit, an income tax credit available to some people who contribute to an employer’s retirement plan or IRA.1
  • Choose a convenient way to invest for retirement with one of the Vanguard Target Retirement Funds - Each target date fund is diversified across stocks, bonds, and cash equivalents invested according to the fund’s target date, which is the date you may be considering withdrawing your money. As the target date approaches, the fund slowly becomes more conservative and automatically shifts its allocation for you.
  • Or, pick from a variety of investment options. In addition to the Vanguard Target Retirement Funds, the plan offers a wide variety of investment options so you can personalize your investment portfolio to meet your specific preferences and goals.

When can I enroll? 

If you are a new employee, you will be eligible to participate in the RHA Health Services, LLC 401(k) Retirement Plan on the first day of the month following your hire date. If you are a former participant in the RHA Health Services, Inc. & Affiliates Employer Contribution Plan, your prior service with RHA Health Services, Inc. will be counted for eligibility purposes and you will be immediately eligible to participate in the RHA Health Services, LLC 401(k) Retirement Plan.


How much can I contribute to the plan?

You may contribute 1% to 100% of your salary, up to $18,000 the annual IRS maximum for 2015. Your contributions can either be pretax contributions, Roth 401(k) contributions, or a combination of both. Together, both contribution types are subject to the annual dollar limit on deferrals. Contributions can be made in whole percentage increments only.

If you are age 50 or older by the end of the calendar year, you may also qualify to make additional contributions called “catch-up contributions” of up to $6,000 in 2015.


Does RHA make any contributions?

Not this year.  This will be analyzed on an annual basis.

RHA welcomes the opportunity to play an active role in helping employees reach their financial goals. RHA may choose to make a contribution to employees that meet the eligibility requirements during those years where a substantial positive financial impact is realized. You must have completed 1000 hours and be employed on the last day of the plan year in order to be eligible to receive employer contributions.


Is my account automatically rebalanced?

Your plan provides you with options to help you maintain your account's targeted asset allocation. Re-balancing your account on a regular basis keeps your investments in line with your chosen risk level and targeted asset allocation plan.

If you choose to invest only in target date funds, automatic re-balancing is taken care of for you since it is a built-in feature of the fund/portfolio. If you select investments from the individual fund options in your plan, you have the option to add automatic re-balancing to your account. After you enroll in the plan, you can add automatic rebalancing by signing on to your account online or by calling 1-800-728-3123.


When do I become vested in my account? 

Vesting refers to your “ownership” of a benefit from your plan. You are always 100% vested in the money you contribute to the plan and the earnings on that money. You will be vested in your employer's contributions and the earnings on that money according to the following schedule: 

Years of service

Vested %

Less than 2

0%

2

20%

3

40%

4

60%

5

80%

6

100%



Key Dates
  • Early October, 2015 - Welcome letters sent to employees from Wells Fargo, describing how to access their account to enroll, elect deferral rate and make investment elections. 
  • November 2, 2015 - Employees can sign up or access current Wells Fargo account online or by phone 
  • November 19, 2015 - Deadline to make new RHA LLC 401k deferral rate elections to be deducted from 11/30 paycheck. 
  • End of November 2015 - Employees will receive a reminder postcard from Wells Fargo to enroll in the new RHA Health Services 401k Plan. 
To rollover previous retirements accounts to the new RHA Health Services, LLC 401K
  1. Request a rollover distribution from the record-keeper of your old retirement account.
  2. Complete the distribution form,.  If needed, the account number for our new 401K plan is WF000RH4.
  3. Fill out the Wells Fargo Incoming Rollover Contribution Form.  Wells Fargo forms can be found on their website, or you can request a form to be sent to you by mail by calling 1-800-728-3123.
  4. Submit the Wells Fargo Incoming Rollover Contribution Form to Wells Fargo.
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Bob Turner,
Mar 8, 2016, 9:21 AM
Ċ
Bob Turner,
Mar 8, 2016, 9:21 AM
Ċ
Bob Turner,
Mar 8, 2016, 9:22 AM
Ċ
Bob Turner,
Mar 8, 2016, 9:22 AM
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