Medical Solutions believes it’s important to invest in our team and to help them invest in their own future! That’s why we offer a 401k with company contribution, among other great benefits, to our internal employees and Travelers.
In 2016, we reviewed our 401k plans to ensure we were providing employees with the best possible benefit and as of December 1, 2016, switched our plans to one of the top retirement plan providers in the nation — Wells Fargo Institutional Retirement and Trust.
We’re pleased to announce that this change means employees can look forward to even more great things from their Medical Solutions 401k plan, including:
- Lower expenses than the previous plan
- Higher rated funds than the previous plan (per Morningstar)
- Online investment advice at no cost
- Single sign on access to all Wells Fargo accounts via WellsFargo.com
- Lower account distribution fees
- State of the art mobile app features
- Income replacement ratio tracking
- More targeted and relevant participant communications
Additionally, we’ve streamlined the enrollment process so that new employees will be auto-enrolled in their 401k after 30 days working with us! Travelers will be auto-enrolled at 3%, and Medical Solutions matches 50% of their contribution up to 3%. Of course, if 401k and free money from a company contribution isn’t your thing, you have the option to opt out within the first 90 days of your first contribution.
We hope this upgraded benefit will make you happy and help you save for a future so bright you’ll need to wear shades while basking in a well-deserved, well-funded retirement!