Other benefits

Enrolling in the 401k retirement program

You can choose whether to participate in our 401(k) plan, what percentage of your pay to contribute, and how you want your contributions invested. Here’s what you need to know:

• The Medica retirement plan is available to all employees the first day of employment — New hires must wait to access the John Hancock Retirement Plan Services site until the Wednesday after you have received your first paycheck
• We provide a 4% match per pay period for employees who contribute 5% or more
• You’ll be automatically enrolled at 5% after 45 days of employment if you don’t make an election — but you can modify this at any time
• You may elect to contribute from 1-75% of eligible pay as pre-tax 401(k) and/or post-tax Roth 401(k) contributions (please note: The IRS has certain contribution limits)
• If you are age 50 or older, you are eligible to make catch-up contributions

Access the John Hancock Retirement Plan Services website

Use these links to learn more about the financial tools available. We’ll show you how to make the most of your retirement and education benefits:

• John Hancock Online Navigation Guide (PDF)
• Emergency Savings Guide (PDF)
• Financial Wellness Tools and Resources (PDF)
• Financial Planning through John Hancock (PDF)
• Financial Wellness Assessment (Video)
• Personal Retirement Planning (Video)

401k deferral estimator tools

These 401k deferral calculators can help you figure out what deferral percentage to sign up for. They can help you meet the maximum contribution and get the most from your Medica employer per-pay-period match.

Make sure to use the tool that best applies to your employment status.

• Deferral estimator for new hires
• Employees not eligible for Incentives or Commissions
• Employees eligible for Monthly Incentives or Commissions
• Employees eligible for Quarterly Incentives or Commissions
• Employees eligible for Annual Incentives or Commissions

Retirement information library

Retirement is complex — so we created a list to make it easier. Access these resources any time you need a refresher or a deeper dive on retirement topics.

• 401(k) Summary Plan Description (PDF)
• 401(k) Loan Facts (PDF)
• IRS Annual 401K Limits (PDF)
• Medica 401(k) Matched Savings Plan Details (PDF)
• Target Date Funds: How Do They Work? (PDF)
• Roth Contributions: How They're Different (PDF)
• Self-directed brokerage account – How to access (PDF)
• Self-directed brokerage account – Welcome kit (PDF)
• Retirement Rollover Flier (PDF)