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 current retirement plan will no longer be available. In order to continue building your retirement savings, you will need to enroll in the Humana Partnership Savings Plan. The employer match will now be 100% of the first 3% contributed and 50% of the next 2% you contribute1, in line with industry peers. You will have the opportunity to apply 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.
First, enroll in the Humana Partnership Savings Plan beginning December 1, 2025, to continue saving for retirement. Then, you'll want to set your contribution rate, decide how you want to handle investments, and be sure to designate a beneficiary. If you have student loans, consider participating in the Student Loan Retirement Match once it is available. And if you need additional support, schedule a one-on-one appointment with a Schwab financial professional.
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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