Regions 401(k) Plan

benefits-chapter

The Regions 401(k) Plan offers you an opportunity to save and invest for your retirement years.

Accessing Your Account

You may access your account from work (when logged into the Regions network). You will not be prompted for a password. The Regions network completes the authentication for you.

It is important that you also log in and create an account using the link below. Regions and Mass Mutual take the security of your information and assets seriously through extensive safety measures. Creating a username and password along with establishing security questions and answers adds an additional layer of protection against cyber-crime.

To access your account away from work, visit http://401k.regions.com.

New Participants

You can contribute to the Regions 401(k) Plan upon hire or any time after your hire date. Once you elect to defer to the Plan, you save through bi-weekly payroll deductions. The percentage you defer can be changed at any time.

The first time you enter the website, you will need to do the following to gain access to your account:

  1. Select "Create Account"
  2. Verify your identity
  3. Create a username and password
  4. Establish security questions for future passwords assistance

Automatic Enrollment

Because Regions understands how important it is to prepare for retirement, we offer automatic enrollment to make it easier for you to get started. If you do not actively enroll or opt out within 30 days of becoming eligible, you will be automatically enrolled in the Regions Financial Corporation 401(k) Plan, and 2% of your eligible before-tax pay will be invested in the T. Rowe Price Target Fund that most closely matches your retirement date, based on an assumed retirement age of 65. If you want to change your contribution rate and investment elections or prefer not to participate in the Regions Financial Corporation 401(k) Plan, simply log in to 401k.regions.com or call 1-800-701-8892.

Associate Contributions

Contributions may be made on a pre-tax or Roth after-tax basis (IRS limits apply). 

For details regarding Roth after-tax deferrals, see:

Roth 401(k) Brochure
Roth 401(k) Frequently Asked Questions

401(k) Plan Limits for 2019

All Associates may defer up to $19,000 in the 401(k) Plan in 2019. Associates that will be at least 50 years of age by 12/31/2019 may defer an additional $6,000 for a total of $25,000. The Company Matching Contribution is limited to $14,000 (5 percent of the IRS Annual Compensation Limit of $280,000) in 2019.

Regions Contributions

After you have been employed by Regions for 12 consecutive months, Regions will begin matching all or part of your contributions (up to IRS limits) the first of the month following your one-year anniversary.

  • Matching Contributions - The first of the month following one year of service, Regions will match your contributions dollar for dollar up to 5% (IRS limits apply). In the event the Associate completes his first Year of Service during the Plan Year, the determination of the matching contribution will not include any Compensation paid before the first day of the month that follows completion of such Year of Service. Whether you choose pre-tax, Roth after-tax or a combination of both, Regions will reward you with combined matching contributions of up to 5 percent of your eligible pay each year, and you gain immediate ownership in the Regions’ matching contributions with no waiting period. Regions’ matching contributions are invested according to your investment elections. If no elections are in place then Regions' matching contributions are invested according to the Plan's default.
  • 2% Employer Contribution - Regions also provides an annual 2 percent employer contribution to eligible associates. Eligible Associates are those who satisfy all of the following conditions: 1) are eligible to be credited with a Company Matching Contribution for such year (without regard to whether the Associate makes deferrals for such year) as a result of having completed a least one Year of Service; 2) is employed by Regions on the last working day of such year; 3) has earned at least 1,000 Hours of Service during the Plan Year; and 4) is not eligible to accrue additional benefits in the Regions Financial Corporate Retirement Plan for such Plan Year. In the event the Associate completes his first Year of Service during the Plan Year, the determination of the Additional Employer Contribution will not include any Compensation paid before the first day of the month that follows completion of such Year of Service.

Automatic Contribution Increases

There are two ways to automatically increase your 401(k) contributions.

  1. Automatic Contribution Increase - This service helps you continue to save for retirement by automatically increasing your contribution rate.  All you need to do is elect the service and MassMutual will do the rest.  You elect the frequency of the increase and the date the change will occur.  MassMutual will send an email reminder about a month before the increase will take effect.
  2. Automatic Escalation Feature - Your deferral election will be automatically increased by 1% annually in January until your contributions reach 5%. If you are currently contributing:
    • 0% you will be increased to 2%
    • 1% you will be increased to 2%
    • 2% you will be increased to 3%
    • 3% you will be increased to 4%
    • 4% you will be increased to 5%

Regions will send an email in late November with instructions on how to opt out of the automatic increase. To increase your contribution automatically by 1%, do nothing. If you are a Highly Compensated Participant who is actively participating in the Regions Financial Corporation Supplemental 401(k) Plan, this automatic escalation feature will not apply to you.

If you are eligible to receive a Company Matching Contribution, Regions will match the contribution dollar for dollar up to 5%.

Every extra dollar you contribute to the Regions Financial Corporation 401(k) Plan today has the potential to grow over time through the power of tax-deferred earnings. Even a small increase to your contributions today could have a big impact on your account balance in retirement. Since a comfortable retirement doesn’t just happen by itself, it’s important to save as much as you can to improve your chances of retirement readiness.

Remember, you can always make changes to the amount you are contributing by logging on to 401k.regions.com or calling the Retirement Plan Information Line at 1-800-701-8892, Monday – Friday 7 a.m. to 7 p.m. CT.

Investment Options

The plan offers a 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 14 funds, which include mutual funds and Collective Investment Trusts (CITs), 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 how your contributions are invested, your contributions will automatically be invested in the Target Date Retirement Fund that matches most closely with the years you will be ages 63-65.

You have the freedom to transfer associate or company contributions into any investment option(s) offered in the Plan, whenever you want. Remember, you are responsible for how your Regions 401(k) account is invested. See the Plan’s website for more information regarding the investment options available in the Plan.

Additional information can be found in the 401(k) Enrollment Book and the 401(k) Summary Plan Description.

See the Documents and Forms page for more materials to help you with managing your 401(k).

When updating beneficiaries, remember to update your 401(k) beneficiaries as well.

Need Help?

Please contact the plan's recordkeeper, MassMutual, 1-800-701-8892 between 7 a.m. and 8 p.m. CT, Monday-Friday.