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JANUARY 2023

Put your well-being on the calendar

In January, the new year is still a blank canvas. If you’ve taken the 2023 pledge, you’re probably already thinking about your goals for your emotional, financial and physical well-being. You may also be thinking about all the ways you plan to grow this year.

Want to make the best possible start? Take the pledge (if you haven’t already) and encourage your spouse or domestic partner to join you. Then take out your calendar and start scheduling appointments that are essential for your well-being.

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Schedule these appointments in 2023

Here are just a few of the well-being appointments you should schedule for and put on your calendar. Check the resources below to learn more, including how to find a primary care doctor.

Annual physical

COST: $0*

During this exam, the doctor will check your vitals, like your blood pressure, heart rate and temperature, and will talk to you about your family’s medical history. Depending on your health background and history, your doctor might also do some blood work or further testing. Even if you’re young and in excellent health, it’s important for your doctor to get to know you, establish a baseline and be alert to changes in your health that may occur in the future.

Two dental exams and cleanings

COST: $0*

It’s important to get a dental exam and have your teeth cleaned every six months. Not only will your dentist monitor your dental hygiene, but they’ll also check for gum disease. And they’ll periodically take X-rays to check for tooth decay, impacted teeth or tooth movement. Remember, the earlier oral health problems are treated, the less costly and aggressive the treatment will be.

Dermatology exam

COST: VARIES

According to the Skin Cancer Foundation, 1 in 5 Americans will develop skin cancer in their lifetime. Be sure to conduct monthly skin cancer self-exams. Plus, annual skin exams by a board-certified dermatologist may be recommended if you have a:

  • History of skin cancer in your family
  • History of blistering sunburns or tanning bed use
  • Large number of moles or a history of atypical moles
  • History of regular sun exposure

Vision exam

COST: COVERED UP TO $80*

The American Optometric Association recommends getting an exam at least every two years to have your eyes checked for things like cataracts and glaucoma. After age 40, you’ll want to get an eye exam every year.

Gynecology exam

COST: VARIES

If you’re female and over age 21, or are sexually active (whichever comes first), you need to start seeing a gynecologist. During this exam, your doctor will check your breasts, conduct a pelvic exam and possibly do a Pap smear (this is typically done every three to five years, depending on your age), where they’ll check your cervix to test for any cancerous cells or abnormalities. 

Mammogram

COST: $0*

A mammogram is a low-dose X-ray of the breast. Regular mammograms can help detect breast cancer at an early stage. They can often find breast changes that could be cancer years before physical symptoms develop.

  • Women under the age of 40 with family history of breast cancer, or who have discovered a lump.
  • Women between ages 40 and 44 have the option to start screening with a mammogram every year.
  • Women ages 45 to 54 should get a mammogram every year.
  • Women ages 55 and older can switch to a mammogram every other year, or they can choose to continue yearly mammograms. Screenings should continue as long as a woman is in good health.

Vaccinations

COST: $o*

Make sure to get your flu shot and any other vaccinations your in-network primary care provider (PCP) recommends. You’ll find a complete list of vaccinations the CDC currently recommends by age group here.

Financial checkup

COST: VARIES

A financial checkup looks at the current state of your finances and helps you determine any changes you need to make to meet your goals. It may include the following.

  • Reviewing your life changes. They can affect your taxes and financial goals.
  • Creating a budget to be intentional about spending, saving and investing.
  • Assessing, reducing and managing your debt.
  • Checking your credit score since it affects loan rates and terms you receive.
  • Revisiting your retirement plan to make sure it aligns with your goals.
  • Evaluating your estate plan so your loved ones are protected.

Get a free 30-minute financial consultation through Resources For Living® (RFL®)**.

*If you’re enrolled in a Costco medical plan.

**Resources For Living is available to all employees and members of their household, including children up to age 26 living away from home.

Sources: InStyle. The 6 doctors’ appointments you need to make this year.
American Cancer Society. American Cancer Society recommendations for the early detection of breast cancer.
Investopedia. How to conduct a financial checkup.

For more information on how your Costco benefits can support your efforts to enhance your emotional, financial and physical well-being, see the resources below.

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LEARN MORE

JANUARY 2023

Get SMART about your goals

Who hasn’t made a New Year’s resolution only to see it fizzle out by February? Don’t blame your lack of willpower. (Trust us, it’s not that!) If you want to achieve an important goal, make small, specific changes that can lead to a big change. You can do it if you set SMART goals.

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What are SMART goals?

The S.M.A.R.T process was developed to help managers set achievable management goals and objectives. Today the SMART process is everywhere, offering useful guidelines for anybody who wants to make a big change in their lives.

letter S

Specific

Include details. Setting a goal to lose 15 pounds works better than “lose weight.”

letter M

Measurable

Track your progress as you work toward your goal. Try using a journal or an app 3 or more times per week.

letter A

Achievable

Make sure your goals are realistic. Retiring at age 30 is not very realistic. Saving an extra $100 a month might be achievable.

letter R

Results-oriented

Focus on what you’re trying to accomplish. But if you encounter obstacles, such as family obligations, adjust as necessary.

letter T

Time-bound

Set a realistic amount of time to achieve your goal. Celebrate as you check off smaller goals along the way, such as making a substantial credit card payment.

Put SMART to work in your life

Now that you know what SMART goals are, here are some examples of how you can use them to achieve your well-being goals.

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Strengthen family bonds

Goal: I will work on nurturing and strengthening my family ties.  

SMART breakdown

  • Specific: I will plan two family activities every week. 
  • Measurable: I’ll keep track of my ideas in a notebook, then write them on our family calendar. 
  • Achievable: Our family has consistently done Taco Tuesdays and trips to the movies every month; therefore, scheduling family activities is doable. 
  • Results-oriented: These activities will play a big part in fostering and deepening the bonds among all family members. 
  • Time-bound: My goal is to put a deposit on a family vacation in six months for a trip we will take next summer.
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Live within a budget

Goal: I will create a budget of $3,450 every month. 

SMART breakdown

  • Specific: I will create a budget of $3,450 every month and spend $300 less.  
  • Measurable: I’ll keep a record of every expense and ensure that I spend less than my budget of $3,450.
  • Achievable: My average monthly spending is $3,250; therefore, I can try my best to stay within the budget if I don’t use my credit cards.  
  • Results-oriented: Keeping my expenses within a budget of $3,450 will prevent me from splurging on items spurred by impulse buying. It will also help me save more and make me more responsible.
  • Time-bound: The goal is to develop a consistent habit of living within a budget of $3,450 every month throughout this year.
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Get regular exercise

Goal: I will consistently work out a minimum of 20 minutes per day, three days a week by summer.  

SMART breakdown

  • Specific: I will do low-impact exercises for 20 minutes per day, three days a week.
  • Measurable: I will measure my progress using a fitness tracker and calendar, making sure I complete my 20-minute workouts. 
  • Achievable: Scheduling workouts for Monday, Wednesday and Friday is manageable for me in the long term. Also, keeping it at 20 minutes will help build up the intensity and allow me enough time to benefit from the cardio, while being short enough to not impact my other routine tasks. 
  • Results-oriented: Working out for 20 minutes three days a week will give me the amazing benefit of moving from low-impact to high-intensity workouts while being manageable enough to sustain for the long term.
  • Time-bound: I will consistently work out a minimum of 20 minutes per day, three days a week by July 15. 

Sources: LifeHack. How to write SMART goals (with SMART goals templates).
LifeHack. 20 personal SMART goals to improve your life.

If you’d like to learn more about Costco benefits and resources that can help you achieve your SMART goals, the following resources can help.

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Thanks for everything

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YOU’RE THE BEST!

DECEMBER 2022

Thanks for everything

Another eventful year is coming to a close. You brought your best every day. And thanks to your dedication, hard work and collaborative spirit, Costco is a great company.

You also made strides in your well-being journey. During 2022, more than 103,109​ of you, along with your spouses or domestic partners, took the We’re in This Together pledge to improve your emotional, financial and physical well-being. You explored your Costco benefits and learned how they can help you reach your goals. And more than 182,000 of you received our monthly well-being emails.

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Get ready to grow

Are you ready to make 2023 your best year yet? Starting in January 2023, you and your spouse or domestic partner can pledge to continue working toward your emotional, financial and physical well-being goals.

In April, you can also join your fellow Costco employees in our first-ever quarterly Well-being Challenge. It’s a great opportunity to set a short-term goal, form a healthy habit and reap the rewards. At the end of the year, you’ll receive a digital well-being toolkit to help you continue the good work you’ve started.

Throughout the year, your well-being portal will also feature audio podcast interviews with Costco employees. Learn how they’ve used their Costco benefits to improve their well-being. And get insights you can use in your own personal growth. And, each month, you’ll hear from a fellow Costco employee about their experience with one of our many Costco benefits. Their testimonials can help you learn more about a resource that could enhance your well-being, too.

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The health and well-being of our employees is a top priority. That’s why we remain committed to providing our employees with exceptionally valuable benefit programs that we regularly review and enhance when appropriate. Because of this, we feel it is important that you are familiar with the benefit programs that are available to you so that you and your family can get the most out of them. The best way you can do this is by participating in the We’re in This Together pledge. By participating, you receive important information that is tailored to your needs.

Thank you for the important role you play in making Costco a great company. My best wishes to you and your family for a healthy 2023!

Craig Jelinek, President and CEO

Craig Jelinek
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Enhanced benefits

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ENHANCED BENEFITS

NOVEMBER 2022

What’s new in 2023?

Costco takes your emotional, financial and physical well-being very seriously. And that commitment is reflected in your Costco benefits, which continue to evolve to be more accessible and more relevant. This coming year, your Costco benefits will feature some exciting enhancements affecting fertility challenges, adoption expenses, and parenting guidance and support.

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Check out these enhanced benefits

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Find help for fertility challenges

Starting January 1, 2023, Costco medical plans will offer coverage for fertility treatments. This benefit will be available to both employees and their covered spouses. You’ll have access to your own fertility advocate, who can guide and support you every step of your treatment journey.

As an Aetna® medical plan member, you’ll also have access to the Aetna Maternity Program.* This benefit offers a wide array of resources, whether you’re planning for a family, already pregnant or working through infertility.

For coverage details, visit Costcobenefits.com.

Make adopting a child more affordable

Starting January 1, 2023, Costco will reimburse you for eligible adoption expenses you pay or incur in 2023, up to $5,000 per child you adopt. The plan covers up to two adoptions, for a maximum reimbursement of $10,000. Eligible expenses include adoption fees, court costs, attorney fees and other adoption costs.

To participate, you (or your spouse, if they’re a Costco employee) must have at least one year of continuous Costco employment and be eligible to enroll in a health plan under the Costco Employee Benefits Program. The child you’re adopting must be under 18 years of age.

To learn more, including plan details, how to submit a reimbursement request and what supporting documents are required, visit Costcobenefits.com after November 2022.

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Get additional parenting support

The last few years have been challenging for school-age children, not to mention the parents who support them. According to the Centers for Disease Control and Prevention (CDC), “Beyond getting sick, many young people’s social, emotional and mental well-being has been impacted by the pandemic. Trauma faced at this developmental stage can continue to affect them across their lifespan.”1

RethinkCare offers parents tools and resources they can use to help their child or teen manage challenges at home and school. Take advantage of virtual consultations with a behavior expert, as well as an online library with thousands of step-by-step videos and research-based resources on common social, learning and behavioral topics.

New this year, the program has been expanded to support all families with children or teens, not just those with behavioral or learning issues. The program includes a comprehensive library of over 2,400 step-by-step how-to videos that build socialization, language and other skills; a Social and Emotional Learning (SEL) curriculum; downloadable at-home learning materials; and a catalog of goal-based training on parental and family well-being. With the pandemic-related challenges all families are facing right now, RethinkCare is truly a lifeline for parents.

To get started, visit Costcobenefits.com or call 800-714-9285.

*Not available in Hawaii or Puerto Rico.

1CDC. COVID-19 Parental Resources Kit.

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LEARN MORE

NOVEMBER 2022

Spend less on taxes

Only available on the Mainland and in Hawaii.

Do you have children in day care? Are your out-of-pocket prescription drug costs increasing? Do your kids need braces? Does your elderly parent require a caregiver?

These expenses can add up. But with a reimbursement account, administered by PayFlex®, you can set aside pretax dollars and pay yourself back through a Health Care Reimbursement Account or a Dependent Care Assistance Plan.* Just be sure to make your 2023 elections during Annual Enrollment, November 1–22, 2022.

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Save on health care and dependent care costs

Your Costco benefits include two different reimbursement accounts, both administered by PayFlex:

Health Care Reimbursement Account (HCRA)

The HCRA allows you to reimburse yourself for health care costs your medical plan doesn’t cover. For example:

  • Your medical plan deductible
  • Out-of-pocket costs for medications
  • Copays for doctors’ visits
  • WeightWatchers membership
  • Children’s braces
  • LASIK surgery

Here’s a complete list of eligible HCRA expenses.

To enroll or re-enroll in a HCRA, you must make your annual election during Annual Enrollment. You can contribute between $120 and $3,050 per year. The money you elect will be taken out of your paycheck and deposited into your reimbursement account before payroll taxes are calculated.

You can then use the amount you set aside to reimburse eligible health care expenses incurred by you, your spouse and your eligible dependents. To be eligible for reimbursement, expenses must be incurred during the year in which you elect to participate.

After submitting your expense receipts through PayFlex, you’re paid back from your reimbursement account. You can access the full amount of your annual HCRA election on January 1, 2023.

Dependent Care Assistance Plan (DCAP)

The DCAP lets you set aside pretax dollars to reimburse yourself for eligible child (under age 13) and elder care expenses necessary for you and your spouse to work. Here are just a few examples:

  • Licensed child care centers
  • Nursery and preschools
  • In-home care (au pair/nanny) and babysitting
  • Elder/senior care during the day

Here’s a complete list of eligible DCAP expenses.

To enroll, or re-enroll, in a DCAP, you can either make your annual election during Annual Enrollment or when you experience a change in your dependents’ expenses during the year. You can contribute up to $5,000 per year ($2,500 per year if you’re married and filing separately) to a DCAP for work-related dependent care expenses. To be eligible for reimbursement, expenses must be incurred between January 1 of the year you elect to participate and March 15 of the following year. For example, if you elect a DCAP account for 2023, you would have until March 15, 2024 to incur eligible expenses.

The money you elect is taken out of your paycheck and deposited into your reimbursement account before payroll taxes are calculated. Since your payroll taxes are then based on a lower gross amount, the amount of taxes deducted from your paycheck is lower, too.

After submitting your expense receipts through PayFlex, you’re paid back from your reimbursement account. With DCAP, however, you can only access the amount currently in your account at the time of your reimbursement request, not the entire annual amount you elected.

Got money in a PayFlex account? Use it or lose it!

If you have a 2022:

You can carry over into 2023:

money icon with "HCRA"

Health Care Reimbursement Account (HCRA)

A maximum of $570

money icon with "DCAP"

Dependent Care Assistance Plan (DCAP)

$0

You have until April 30, 2023, to submit reimbursement claims for eligible expenses incurred between January 1 and December 31, 2022.

To enroll or re-enroll in an HCRA or a DCAP for 2023, visit Costcobenefits.com during Annual Enrollment, November 1–22, 2022. See the resources below for more information.

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Learn the basics

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LEARN THE BASICS

SEPTEMBER 2022

Explore treatment options for alcohol concerns

People often think there are only two places to get help for alcohol concerns — Alcoholics Anonymous (AA) or residential rehab. But today, there are more choices than you might expect. Health care professionals now provide up-to-date treatments backed by science. Care is offered at different levels of intensity in a variety of settings.

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A two-part treatment approach

Typically, the first step is to see a primary care provider (PCP). After completing an alcohol use disorder assessment, they’ll discuss treatment options and make recommendations, which can include: 

  • Talk therapy. A licensed therapist can help people build coping strategies and skills to stop or reduce drinking. Treatment can include one-on-one, family or group sessions.
  • Medications. A primary care provider or a board-certified addiction doctor can prescribe non-addicting medications. These can help people stop drinking and avoid relapse.  

These two options can be used in combination and tailored to individual needs.

Four basic levels of care

There are four basic levels of care or intensity for alcohol treatment. These levels, as defined by the American Society of Addiction Medicine, include:

  1. Outpatient. Regular office visits for counseling, medication support or both. Some lower-intensity outpatient-care options, if appropriate, could include:
    • A high-quality, traditional outpatient program.
    • A care team you put together, including therapists and doctors with addiction specialties to team with your primary care provider. It’s a way to get higher quality, one-on-one care that maintains privacy.
    • Telehealth — phone or video sessions. These are phone or video sessions for talk therapy or medical care. They can be particularly useful in locations with few addiction health professionals.
    • eHealth options — online or mobile. The National Institute on Alcohol Abuse and Alcoholism (NIAAA) has developed a number of tools that help people overcome alcohol concerns. They include a computer-based cognitive-behavioral therapy program; digital self-help program; and a mobile tool to prevent relapse.
  2. Intensive outpatient or partial hospitalization. Coordinated outpatient care for complex needs.
  3. Residential. Low- or high-intensity programs in 24-hour treatment settings.
  4. Intensive inpatient. Medically directed 24-hour services; may manage withdrawal.

How do you know which level is right for someone? A complete assessment of a person’s alcohol problems and complications can help guide their care team’s recommendations.

Support groups for empathy and accountability.

In addition to professionally led treatment, many people benefit from mutual support groups. Groups can vary widely, so it’s important to try different ones to find a good fit. There are several good options, including:

  • Alcoholics Anonymous (AA) — the most common mutual help group, with meetings in most communities and online. Meetings involve participants sharing their personal histories with drinking and recovery and encourage progress along “12 steps” that have a strong spiritual component.
  • LifeRing — a secular (nonreligious) peer support network supporting abstinence from alcohol and other drugs.
  • Secular Organizations for Sobriety — an alternative to spiritual support groups, this is a network of local and online groups dedicated to helping people achieve and maintain sobriety.
  • SMART Recovery — a research-based support program that focuses on empowering members to build four sets of skills: motivation to abstain, coping with urges, problem solving and lifestyle balance.
  • Women for Sobriety — a self-help program designed by and for women, focusing on emotional and spiritual growth.

For more information on treatment options for alcohol misuse, check out this RFL video.

Regardless of where or how you seek treatment, look for approaches that are “evidence based.” This means the treatments are backed by large, well-designed studies.

Source: NIH NIAA. What types of alcohol treatment are available?

For more information on alcohol treatment services covered by your Costco medical plan, see the resources below and make an appointment with your primary care provider.

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Enhanced benefit

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ENHANCED BENEFIT

JULY 2022

Find better care with Aetna Smart CompareTM

Choosing the right doctor can be a challenge, especially when you’ve just moved to a new community. How can you be sure the doctor you select will provide you and your family with exceptional care? Now there’s a way: Aetna Smart Compare. This new designation program helps you choose local in-network doctors who meet the highest standards of care.

Aetna Smart Compare is not available in Hawaii or Puerto Rico.

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How to spot a high-quality doctor

Finding an Aetna Smart Compare-designated doctor is easy! When you search for a provider, condition or procedure, your results will list those who meet the Aetna Smart Compare criteria at the top. Also, doctors who meet the criteria will have a purple “Quality & Effective Care” label at the top of their profile. That way, you know you’re getting top-quality care with that provider.

Why is choosing a high-quality doctor important?

To receive an Aetna Smart Compare Quality Care and/or Effective Care designation, providers are measured on the effectiveness of their care decisions and how well they meet clinical guidelines and outcomes. These include:

  • Decisions on when to perform a procedure
  • What procedure and location they recommend
  • Ability to prevent complications
  • Use of standards for preventive screening
  • Treatment plans for brief and severe situations
  • Support for taking medication as prescribed
  • Ordering only the tests you need, not the ones you don’t

What types of providers are rated for quality?

  • Primary care physicians (PCPs), such as internists, family practice providers, physician assistants and pediatricians
  • Orthopedics who specialize in hip and/or knee care
  • Orthopedics and neurosurgeons who specialize in spine care
  • Obstetricians and gynecologists (new in 2022)
  • Cardiologists (new in 2022)

Aetna will be expanding the program in late 2022 to include additional specialties, such as general surgery, cardiothoracic surgery, endocrinology, pulmonary medicine, vascular surgery and more

Get started

For more information or to start your search for a local in-network provider, see the resource below.

 

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Take action

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TAKE ACTION

JUNE 2022

Make preventive care a habit

Getting routine care, like annual physicals, screenings and vaccines, can help you stay healthy or catch health issues early, when they’re most treatable. Your Costco medical plan covers routine care at 100% when you see an in-network doctor — and that helps keep your wallet healthy, too.

According to a study published in PubMed, US adults who have a primary care physician have 33% lower health care costs and 19% lower odds of dying than those who see only a specialist.1

Preventive care starts with a yearly physical. Honest talks with your doctor about a healthy lifestyle, including eating better, exercising or quitting smoking, are part of your visit, too. Depending upon your age, sex, and personal and family medical history, your doctor will also recommend the appropriate screenings and vaccines to protect your health.

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Stay current with vaccines and screenings

The following chart shows what’s generally recommended by the Centers for Disease Control and Prevention (CDC). Not all tests and screenings are needed annually. Talk to your doctor about what’s right for you.

PHYSICAL EXAM

Age: All

Frequency: Ask your doctor

Cholesterol test

Age: 18+

Frequency: Every 5 years from age 20

Flu shot

Age: 6 months and older

Frequency: Annually

Colorectal cancer screening

Age: 45+

Frequency: Every 10 years

Routine OB/GYN exam

Age: 21+

Frequency: Annually

Cervical cancer screening (pap smear)

Age: 21+

Frequency: Every 3 years

Breast cancer screening (mammogram)

Age: 40+

Frequency: Varies by age & risk

Prostate cancer screening

Age: 50+

Frequency: Every 2 years

Dental exams

Age: N/A

Frequency: Twice per year

1Bhat, Samidha S., MD. Health benefits of primary care. Pennsylvania Academy of Family Physicians.

Want to be more proactive about your health? Your Costco benefits include preventive health care resources that can make a difference.

 

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LEARN MORE

APRIL 2022

6 financial tips for the sandwich generation

It seems like only yesterday that your kids were toddlers. Now they’re heading to college — just as your aging parents need your help. Congratulations, you’ve joined the sandwich generation. Whether this is your current situation — or one you may face in the future — taking care of multiple generations of your family can be tough on your stress level and your wallet.

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Here are six tips to help you support your loved ones while safeguarding your own financial well-being.

1. Get your finances on track.

Whether you’re currently caring for your kids and aging parents, or you’re on your own, now’s the time to get rid of your debt. Need help? Sign up for SmartDollar® and follow the 7 Baby Steps to restore your financial health.

2. Talk about finances early and often.

If you’re caring for your parents, don’t be afraid to ask them tough questions. Are they in debt? Do they have life insurance or long-term care insurance? Do they understand their investments? Do they have a will?  Can they share its location with you? As for your grown children, ask them about their goals. Talk to them about lifestyle changes they need to make to get where they want to be.

3. Start planning for the right kind of elder care

If your parents need in-home care, an assisted living facility or a nursing home, you’ll need to discuss the financial impact with them. Decide what type of care fits their budget (or yours, if you’re the one supporting them). Visit Resources For Living® for adult and elder care referrals and to find out more about the 30-minute free legal consultations available to you.

4. Save and invest for your own retirement.

If you aren’t already doing it, start saving for retirement. By making your retirement savings a priority, you can save your kids from the same stress you might be going through now with your own parents. The sooner you take advantage of your Costco Retirement Plan, the more you’ll save.

5. Save for your children’s college.

It’s never too early to start exploring the best ways to save for your kid’s college education. If they’re still in high school, make sure their dream college is one you can afford. Help them look into scholarships, and encourage them to get a part-time job. This way, they can start saving before entering college. If you have kids who are already in college, talk to them about getting a part-time job during the school year and a full-time job for the summer to help them avoid accruing debt. Finally, talk with them about learning to live on a budget.

6. Set clear boundaries.

Balancing money and relationships can be complicated. The best thing to do is set healthy boundaries and talk about expectations. It’s hard to say no to parents or children when you’re trying to work on your finances. But don’t let anyone make you feel guilty for trying to take care of your own household first.

Source: RamseySolutions.com

The following resources are available to help you stay financially fit — whether you’re single or caring for aging parents or children. These resources are confidential and available to you at no extra cost.

 

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Take action

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TAKE ACTION

APRIL 2022

Start preparing for retirement

Take a moment to focus on your financial well-being and make the most of your Costco Retirement Plan,* administered by T. Rowe Price.

*For Mainland and Hawaii employees, the plan is called the Costco Retirement Plan. For employees in Puerto Rico, it’s called the Costco Puerto Rico Retirement Plan. 

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Make saving for retirement a priority

Whether your retirement is decades away, or just a few years down the road, use this list and your Costco Retirement Plan to get ready. Start by visiting RPS.TRowePrice.com to view your Costco Retirement Plan.

Add an extra layer of security for your plan account by setting up multi-factor authentication. Multi-factor authentication helps keep your financial information secure by requiring two or more forms of authentication to verify your identity.

Name your beneficiary, the person (or persons) you choose to inherit your assets if anything should happen to you. If it’s been a while, check to ensure your beneficiary information is up to date.

Update your email address to receive timely newsletters and valuable saving insights.

Contribute enough to get the full matching contribution. Review your contribution now.

See if you qualify for the Retirement Savings Contributions Credit (Saver’s Credit). For low- to moderate-income employees who qualify, the Saver’s Credit means you can get a tax credit based on your tax filing status, adjusted gross income and how much you contribute. 

Make sure your T. Rowe Price Automatic Increase is turned on, so your contribution will be increased by 1% each year.

Strive to save 15% of your annual pay — it’s OK to work your way up to the suggested target gradually.

If you’re age 50 or older, consider making catch-up contributions. This allows up to an additional $6,500 (for 2022) to help you move closer to your retirement goal.

Get your financial house in order

Learn to budget, free yourself from high-interest debt and aim for higher savings goals with help from SmartDollar®.

Build an emergency fund equal to three to six months’ expenses to help you in case there are unexpected changes in your income.

Make a budget that matches your lifestyle and gives you room to save.

Create a plan to pay down credit card debt; paying off small balances first can motivate you to keep going.

Use your emergency fund instead of credit cards to offset surprise costs.

The following resources are available to help you get started on your retirement plan. They are confidential and are available to you at no extra cost.