*Retiring Soon: Informational Seminar*
Thursday, May 22
10 a.m. - 12 noon
Phipps, Room 340
You made the right choice to save for your retirement by investing in your employer-sponsored retirement plans throughout your career. You have saved for retirement; now what? If you are over the age of 50, are considering retiring soon or you are retirement age, discover your options and learn how to create your strategy for secure retirement income.
Registration is required. Please call 410-955-5828 by Tuesday, May 20 to reserve your seat.
Roth 403(b) Now Available!
What is a Roth 403(b)? A Roth contribution is a post-tax contribution, which means it doesn't reduce your taxable income.
What is the advantage of a Roth 403(b)? The Roth contributions and earnings are all tax free at retirement. Note: The IRS has several requirements in order for you to qualify for the tax free treatment.
Are there any other downsides to the Roth 403(b)? Roth contributions will not be eligible for loans or hardship distributions.
How much can I contribute in Roth Contributions? The Roth contributions are part of the current 403(b) plans. Thus, the combination of Roth and regular pre-taxed contributions can not exceed the normal annual limits (i.e., $15,500 for 2008) plus any catch-up contributions (i.e., $5,000 for anyone over age 50, and long service cath-up).
Who is eligible for the Roth 403(b)? The following employees are now eligible to make Roth 403(b) contributions:
All employees of The Johns Hopkins Health System Corporation
All employees of The Johns Hopkins Hospital
All employees of The Johns Hopkins Bayview Medical Center, Inc.
How can I get more information? You have several options to get more information...
- One on One with a Lincoln Retirement Consultant:
Johns Hopkins Hospital
Phipps Building - Room 493
410-955-5828Bayview Medical Center
Administrative Services Center - Room 312
410-550-1833
- Q&A Sessions will be held at the following locations in the next several weeks (the schedule will be posted shortly):
The Johns Hopkins Hospital
Johns Hopkins Bayview Medical Center, Inc.
Johns Hopkins Health Care
Web Access to Pension Benefits
The Johns Hopkins Health System enhanced its benefits communication program by providing you with a new opportunity to see your pension benefits at the same location that you view your 403(b) plan account information. Furthermore, you can project your benefit into the future and look at various retirement dates.
To access your pension benefits data, please follow the instructions below:
- Go to www.LincolnAlliance.com
- Type in your Social Security Number and Pin. If you do not have a pin, you may contact Lincoln directly at 800-234-3500.
- Once you have logged in, direct your eyes to the middle of the screen. You will see 3 different types of plans listed. The first option is for the 403(b) plan, the second is for the 403(b)
match account, and the third is for the retirement plan. Please click on the retirement plan
option to access your pension benefits data. - The first screen that appears lists your basic data (mailing address, date-of-hire, etc.). Please make sure the data is correct.
- If you click on the button that reads "Next" in the lower right corner of the page, the next screen that you encounter will give details about your current accrued benefit and your vesting status.
- To perform a projection of retirement benefits, please locate the menu on the left side of the screen. Click on "Benefits Estimates." You may complete up to 3 projections at one time using the drop-down menus provided.
We encourage you to look at your personal information. We have been gathering as much data as possible; however, we may be missing a prior period of employment, a prior transfer, or other information. Prior to any distributions from the plan, we will review your personnel file and adjust any incorrect or incomplete data. However, if you are aware of any incorrect information, please complete the Update Information Request Form and fax it to The Johns Hopkins Health System Pension Office at (443) 287-4224. We will then review your information and send you a letter explaining any updates to your information as appropriate. Please allow 30 days for the research process.
