Regions 401(k) Plan
The Regions 401(k) Plan offers you a vehicle for saving and investing for your retirement and your financial future. It's easy: you save through automatic payroll deductions, and you can change your deferral amount at any time.
You can join the Regions 401(k) Plan as soon as you are employed by Regions or anytime afterward. After you have been employed by Regions for 12 consecutive months, Regions will match all or part of your contributions.
- For every $1 of pre-tax or Roth after-tax money you defer into the Regions 401(k) Plan (up to 4 percent of your eligible pay), Regions matches your deferral with a $1 contribution, up to IRS limits. See life@regions > 401(k) for more details.
Whether you choose pre-tax, Roth after-tax or a combination of both, Regions will reward you with combined matching contributions of up to 4 percent of your eligible pay each year, and you gain immediate ownership in the Regions' matching contributions with no waiting period.
- After 12 months of service, Regions provides an automatic 2 percent 401(k) contribution to eligible associates regardless of whether or not they are contributing to the Plan. Tp receive this contribution, associates must not be actively accruing a benefits in the Regions Retirement Pension Plan, be employed on the last day of the year and complete 1,000 hours of service. This contributions will take place the first quarter of the following year.
The Regions 401(k) Plan offers an expanded range of investment options that include:
- Target Date Retirement Funds that help keep investing simple. Each of the 12 Target Date funds is designed to provide you a well-rounded investment portfolio based on when you expect to use your savings.
- Individual Funds give you control. These 17 funds allow you to determine a combination that fits your needs and create your own investment portfolio. Over time, you decide when and how to adjust your investment mix to achieve a balance of risk and potential returns appropriate for reaching your goals.
- If you don't select one or more investment funds, your new deferrals automatically will be invested in the Target Date Retirement Fund that matches most closely with the years you will be ages 63-65.
To access your account, visit http://401k.regions.com and click on "retirement access".
The first time you enter the Web site, you will need to do so using the following default login information:
- User Name: 9-digit Social Security number
- Password: 8-digit date of birth, in MMDDYYYY format
After you log in, you will be required to change your user name and password.
For questions about your account, please call the Plan's recordkeeper, The Hartford at 800-854-0647.
Additional information can found in the 401(k) Summary Plan Description. See life@regions for additional related documents.
- When updating beneficiaries, remember to update your 401(k) beneficiary as well.