How to plan for down the road.
You might make plans about how you’ll spend your retirement, but it’s also a good idea to plan for how you’ll pay for it.
The good news is that Pearson wants to make it possible for you to to meet your retirement goals. With the Pearson 401(k) Retirement Plan for 2015, you can start making contributions today towards your retirement. So let’s take a step back and look at some of the guidelines.
There’s a limit on the pre-tax amount you can contribute to your plan.
At the maximum, you can contribute $18,000, which is the IRS limit for 2015, or you can contribute the plan limit of 50% of your eligible compensation — whichever is lower.
One thing to note is that if you’re over 50, or turning 50 in 2015, you’re eligible to make “catch-up” contributions.
You can contribute an additional $6,000, which means you may be able to make a total of $24,000 in pretax contributions in 2015 ($18,000 + $6,000 = $24,000).
Remember that Pearson matches your contributions (excluding catch-up contributions) dollar for dollar, for up to 3% of your eligible pay plus $.50 for every dollar on the next 3%.
You should make the most of the match by contributing at least 6%. To view or update your current contribution rate, click here.
At Pearson, we’re here to help you get everything in order for retirement down the road, so you can keep planning and stop worrying.
Empowered by a New Look
The Pearson Retirement Plan 401(k) employee portal recently went through a makeover – check it out! Great-West Financial, Putnam Investments and Great-West Financial Retirement Plan Services (formerly J.P. Morgan Retirement Plan Services) came together to form a new retirement organization called EMPOWER Retirement™. In addition to the new look, the name reflects the commitment to empowering individuals to take charge of their own retirement future.
Here’s what didn’t change:
- 401(k) Plan Features: You’ll continue to experience the same plan features, day-to-day transaction functionality, investment options, retirement tools, etc. as they existed prior to the name change.
- Website/Call Center: You’ll continue to access your account via the online employee portal here or via phone at 800-345-2345.
Stock Up with ESPP
The purchase of shares under the Employee Stock Purchase Plan (ESPP) was completed in January and credited to your ESPP account. To find out how many shares you received, log on to www.retireonline.com/pearson and click on the ESPP link.