As part of its commitment to the financial well-being of its employees, the Arc Mercer has made significant strides in providing retirement security through its highly competitive 401(k) plan. Recently, the agency helped over 100 employees transition into this exceptional plan, with the support of Executive Director Steve Cook and HR leadership. This transition follows the dissolution of a union many employees had been a part of and provides access to a more robust and beneficial retirement savings option.
To ensure a smooth transition, the Arc Mercer hosted a series of comprehensive information sessions for both former union employees and non-union staff. These sessions aimed to educate all eligible employees about the plan’s advantages and to guide them through the enrollment process. The response was overwhelmingly positive, with 150 staff members attending these sessions, and over 100 deciding to enroll in the 401(k) plan.
A Retirement Plan That Stands Out
The Arc Mercer’s 401(k) plan is among the most generous in the industry. Designed to make saving for retirement as easy and rewarding as possible, the plan allows employees to start contributing after just three months of employment. Contributions are immediately vested, meaning employees fully own every dollar they contribute from day one.
Key benefits of the plan include:
Safe Harbor Contribution: The Arc Mercer contributes an automatic 3% of your salary, regardless of whether or not you contribute.
Employer Match: For every dollar you contribute, the Arc Mercer matches 100% up to 6% of your salary.
Discretionary Profit-Sharing: Each year, the Arc Mercer may contribute up to an additional 2% of your salary, depending on the organization's performance.
Why Enroll Now?
With low fees and a stellar company generosity rating, the Arc Mercer’s 401(k) plan ensures that every employee has access to a retirement savings option that is both cost-effective and high-yielding. For example, an employee earning $50,000 who contributes 10% of their salary can expect Arc Mercer to contribute an additional 11% between the Safe Harbor, matching contributions, and discretionary profit-sharing. Over the course of 20 years, this could lead to retirement savings of over $347,000 at a conservative 5% return rate. After 30 years, this figure jumps to nearly $700,000.
Arc Mercer’s Vision for 100% Enrollment
The Arc Mercer is proud to support over 100 staff members who have already enrolled, but the agency is not stopping there. The goal is to have 100% of all eligible employees contributing to the plan, ensuring that everyone is on a path to a secure financial future.
If you haven’t already taken the step to enroll, now is the perfect time. The 401(k) plan is a simple, powerful way to save for your future with a company that’s invested in your success.
For questions or assistance with enrolling, contact the HR Hotline at 609-643-4447 or email benefits@arcmercer.org. You can also click this link to enroll today. Let’s work together to ensure every Arc Mercer employee can enjoy a prosperous and secure retirement!
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