Empowering Employees Through Benefits that Improve Financial Health

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Improving your financial health is always an important goal. Our life insurance, legal insurance, retirement and 529 plans, and universal life benefit are all designed to offer long-term value and improve your financial security.   

Life Insurance*

Life insurance protects dependents financially after death. Lincoln Financial Group life insurance benefit offerings include:

• Basic – Kettering Health provides basic term life to all eligible employees as a core benefit at no cost to the employee
• Voluntary life – you may purchase up to a total of five times your base pay ($1 million max)
• Accidental death and dismemberment
• Spouse life and
• Child life

These are group term insurance policies and do not accumulate cash value. You may transfer the group term insurance policy to an individual policy within 30 days of your last day of employment. 

Taking a few minutes to review and update your beneficiary information is an important part of maintaining a healthy financial plan. Be sure to designate your beneficiary as soon as you enroll and review it regularly, especially after major life events such as marriage, divorce, or the birth of a child. You can change, delete, or add a life insurance beneficiary at any time throughout the year in UKG / Manage My Benefits / Review your Current Benefits / Basic Employee Life / View or Change / Edit Beneficiaries.

For more information about what life insurance options are available, please click here for our Lincoln Voluntary Benefits knowledge article.

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Legal Plan*

Legal matters, both planned and unplanned, are part of life. Enrolling in the MetLife Legal Plan gives you financial and emotional peace of mind to know you will be covered for expected and unexpected legal events. These could include estate planning, civil suits, adoption, creditor issues, and much more.  Attorney fees are fully paid by the plan when you use a plan attorney for covered services. This can reduce unexpected legal costs and provide protection against future risks. 

There are two plan options available:

• Employee plus spouse and/or dependents
• Employee plus spouse, dependents, parents, and/or parents-in-law

Having a current will in place is a key part of a strong financial plan. A will ensures your assets are distributed according to your wishes, helps minimize potential legal complications for your loved ones, and can prevent costly and time-consuming disputes. If you need to create or update a will, the MetLife Legal Plan makes it easy and affordable to work with an experienced attorney, giving you confidence that your affairs are in order.

How to use the plan:

1. Find an attorney. Once you are enrolled in the plan, create an account and select an attorney for your legal matter, or call 1-800-821-6400 for assistance.
2. Make an appointment. Call the attorney you select and schedule a time to talk or meet.
3. That’s it! There are no copays, deductibles or claim forms when you use a network attorney for a covered matter.

For more information, please click here for our MetLife Legal knowledge article and attached flyers.

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Retirement Plans*

Kettering Health is committed to helping you with your long-term financial goals. Building a secure retirement starts with consistent savings, taking advantage of employer contributions, and ensuring your accounts are set up according to your wishes. You can save for your retirement through a combination of personal savings and the KH employer matching retirement plan.

We offer the following retirement plans administered by Fidelity Investments and developed under IRS guidelines:

• 403(b) Plan
  • 403(b) – enables employees to contribute on a pretax basis
  • Roth – enables employees to contribute on an after- tax basis
• 401(a) Plan – employer matching contribution
• 457(b) Plan – additional opportunity once you’ve reach the 403(b)/Roth max

Consistently contributing to your retirement plan, also known as making deferralsx, is one of the most important steps you can take toward long-term financial health. Even small, regular contributions can grow significantly over time, helping you build a more secure financial future.

403(b) Plan – All employees are eligible to contribute to their 403(b) and Roth.  There is no waiting period. All employees are also immediately vested in their 403 and Roth. Employees can contribute up to the IRS limit for that calendar year. To receive the full employer match, be sure to contribute at least up to the matching threshold.

Employees can change their contribution amount three ways:

1. Call Fidelity at 1-800-343-0860
2. Log in to your NetBenefits account at www.fidelity.com/atwork
3. Schedule a virtual appointment with our Fidelity consultant at 1-800-642-7131

401(a) Plan – Eligible employees receive an employer matching contribution. An employee is eligible if:

• The employee has at least 1,000 hours of service during the plan year (payroll calendar year), is employed by Kettering Health on the last day of the plan year, and is not temporary or a resident
• The employee terminates employment during the plan year on or after attainment of age 65

If you are eligible and contribute up to 4% of your pay to your 403(b) and/or Roth, you will receive a 100% employer match on these contributions, an important opportunity to maximize your retirement savings.

457(b) Plan – If an employee has contributed the max amount to their 403(b) or Roth, they may contribute to the 457(b) plan. This plan allows the employee to save further for retirement. This plan does not include any employer matching contribution.

Designating beneficiaries for your retirement accounts is an essential part of your overall financial plan. Keeping your beneficiary information up to date ensures your retirement savings are distributed according to your wishes and helps avoid unnecessary delays, legal complications, or financial stress for your loved ones.

Take a few moments to review your Fidelity retirement accounts in NetBenefits (www.fidelity.com/atwork) and confirm that you have beneficiaries listed for each account. Beneficiaries named in other Kettering Health benefit programs, such as life insurance, do not automatically apply to your Fidelity retirement plans.

For more information on plan details and eligibility requirements, please click here for our Fidelity Retirement knowledge article.

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BlackRock 529 Plan*

The BlackRock CollegeAdvantage 529 Plan is an investment program designed to help you save for college expenses without the burden of taxes. 

Saving for education is a key element of overall financial health. Planning ahead for education expenses can help reduce future debt, ease financial stress, and create more opportunities for you or your loved ones. By starting early and contributing consistently, you can build a strong foundation to support long-term financial goals.

The 529 plan can be used for the following:

• Saving for a child, grandchild, or other student’s college education
• Paying for your graduate school studies
• Pursuing an interest through continuing-education courses

The key benefits include:

• Grow and withdraw assets free from federal taxes
• This is a post-tax payroll deduction with the tax advantage when you take the distribution
• Additional state tax benefits where applicable
• Flexibility to transfer to another eligible family member of any age
• No income limitations for making contributions

You can open, make changes, or stop your BlackRock 529 plan at any time during the year. To find application instructions, coverage details and available investment choices please click here for the BlackRock knowledge article and attached brochures.

It’s never too early, or too late, to start investing in education and strengthening your financial future.

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Universal Life*

Transamerica Universal Life with Long-Term Care offers a layer of financial protection for loved ones should the unimaginable happen. 

Universal life insurance can play an important role in supporting your long-term financial future. In addition to providing a death benefit, it offers stability, predictable costs, and the ability to build cash value over time, making it a useful tool for protection and financial planning.

Key benefits include:

• Permanent life insurance
• Complements basic and term life with coverage during primary working years and into retirement
• Guaranteed issue coverage is available for new hires, newly eligible employees and during open enrollment
• Death benefit paid to the beneficiary
• Long-term care coverage included
• Rates do not change due to getting older
• Fully portable at same price and benefit level if you leave or retire
• It also builds cash value that can be borrowed against if needed

Help safeguard your family’s future with life insurance that can assist with more than final expenses. To find coverage details and available benefit amounts please click here for the Transamerica Benefit knowledge article. Employees can enroll, make changes or cancel the policy during open enrollment and anytime throughout the year.

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Prepare for your financial future. Take steps toward improved financial health.