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.
To access your account away from work, visit http://401k.regions.com
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:
- Register your account: Click "Get Started" and follow the prompts.
- Create a username and password
- Answer several security questions for future password assistance.
- Click "Enroll Now" and follow the instructions.
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 1-800-370-9442.
Contributions may be made on a pre-tax or Roth after-tax basis (IRS limits apply). See the Roth 401(k) Brochure and the Roth 401(k) Frequently Asked Questions for details regarding Roth after-tax deferrals.
401(k) Plan Limits for 2016
All Associates may defer up to $18,000 in the 401(k) Plan in 2016. Associates that will be at least 50 years of age by 12/31/2016 may defer an additional $6,000 for a total of $24,000. The Company Matching Contribution is limited to $10,600 (4 percent of the IRS Annual Compensation Limit of $265,000) in 2016.
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 4% (IRS limits apply). 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. 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 regardless of whether or not they contribute to the Plan. To receive this contribution, associates must not be actively accruing a benefit in the Regions Retirement Pension Plan, be employed on the last day of the year, completed one year of service and have completed a minimum of 1,000 hours of service in that year. The employer contribution will take place the first quarter of the following year.
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 found in the 401(k) Enrollment Guide and the 401(k) Summary Plan Description. See the Documents and Forms page for more materials to help you with managing your 401(k).
Help? Please contact the Plan's recordkeeper, Mercer, 1-800-370-9442 between 7 a.m. and 9 p.m. CT, Monday-Friday.
- When updating beneficiaries, remember to update your 401(k) beneficiary as well.