Updates are coming to your retirement plan, and we're here to guide you through every step with a clear and easy-to-follow roadmap. On this journey, there are three stops in understanding the updates.
First stop: What's changing
Second stop: What's not changing
And finally: What you need to do
After visiting each stop, you'll have all the information you need, so let's begin.
What's changing.
On January 1, 2026, your Humana Retirement Savings Plan account and elections on file will automatically transfer to an account created for you in the Humana Savings & Investment Plan. The employer match will now be 100% of the first 5% contributed1, in line with industry peers, and you will have the opportunity to report student loan payments to earn matching contributions to your retirement plan. A streamlined catch-up contribution election process will be implemented for those age 50 and older. You have opportunities to save more, as the contribution limit for pre-tax and Roth 401(k)2 contributions combined is increasing from 35% to 70%. And the after-tax contribution limit is increasing from 2% to 7%. Now let's move on to our second stop.
What's not changing.
Schwab Retirement Plan Services is pleased to continue providing recordkeeping services to Humana associates. That means access to your account and your login credentials will not change. One-on-one guidance from Schwab's financial professionals is still available to you, as are Schwab's award-winning digital tools to help you plan and save. If you have an existing loan, repayments will continue. Now that we've heard what's changing and what's not changing, we'll move to our third and final stop.
What you need to do.
To ensure a seamless transfer, there will be a blackout period—a time when no account changes can be made in the Humana Retirement Savings Plan. You will be notified on blackout period dates. Review your account and make any changes prior to the transfer. If you have questions about this change or want to know more about your own retirement planning, book a one-on-one appointment with a Schwab financial professional. These changes will take effect on January 1, 2026.
Once the blackout period ends, you may want to consider a few actions. First, you may want to adjust your contribution elections to offset the match decrease and take advantage of the increased contribution limits. Second, if you're age 50 or older, you'll want to review your elections to ensure that they reflect what you want to contribute to be sure you are maximizing your annual savings limits. And third, if you have student loans, consider participating in the Student Loan Retirement Match once it is available.
As you take this journey, know that Schwab is here to guide you, to answer your questions, and to make the trip as smooth as possible so that you're ready to navigate your new retirement plan with confidence.
Disclosures:
1. Your employer may have a maximum match rate as well as other restrictions. Employer contributions are paid on a pre-tax basis and may be taxable at withdrawal.
2. Earnings on Roth 401(k) contributions are eligible for tax-free treatment as long as the distribution occurs at least five years after the year you made your first Roth 401(k) contribution and you have reached age 59½, have become disabled, or have died.
Schwab Retirement Plan Services, Inc. provides recordkeeping and related services with respect to retirement plans and has provided this communication to you as part of the recordkeeping services it provides to the 401(k) Plan.
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