The 401(a) is a tax-deferred retirement plan designed to help you invest regularly for your retirement. It is offered to you through your employer and is available to employees of qualifying hospitals, educational institutions, and many not-for-profit organizations. Your contributions are taken directly from your salary before it is taxed, and each plan offers you a selection of investment options.
There are several benefits to consider when joining a 401(a) plan.
*No taxes are due including earnings, until you make a withdrawal.
It's simple. Your contributions are made through payroll deduction. To participate in the 401(a) retirement plan, you first must complete an enrollment form and a Salary Reduction Agreement. The amount you designate as a deduction will be automatically withdrawn from your paycheck and contributed to your 401(a) retirement plan. Be sure to check with your employer or Lincoln representative for your specific plan enrollment requirements.
There are a variety of investment options available for, and specific to, your 403(b) plan. Contact your employer or Lincoln representative for the list of your choices.
Withdrawals are available from your 401(a) plan for specific reasons, such as:
To learn more about the 401(a) plan, please feel free to Contact Us any time!