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Open Enrollment

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Last updated date: 10/29/2024

Overview

See What’s New for 2025

You take great pride in your work to deliver results for our advisors and their clients, and as one team on one mission, we are just as committed to supporting your total wellbeing — including your physical, emotional, and financial health. That is why at LPL we provide a comprehensive and competitive total rewards package of compensation, rewards and recognition, and benefit programs, with many options to address your and your family’s unique needs.

LPL’s commitment to providing a comprehensive and competitive total rewards package includes offering benefit programs that support your overall health and wellbeing. To ensure your benefits package is cost-effective, we review our benefits programs regularly as we strive to offer benefits that are meaningful, give you options, and allow you to take control of your health and healthcare costs.

Review this page to find out what you need to know and what you need to do during Open Enrollment. Be sure to check out the summary of what’s changing and learn more about your decision-support resources before enrolling in your 2025 benefits between November 1 and November 15, 2024.

Have questions?

Check out the following pages for decision-support tools and tips for enrollment:

If you experience technical difficulties with ADP My Pay and Benefits during your enrollment, contact ADP’s LPL Benefits Service Center at 1.855.894.7752 or LPLFinancialServiceCenter@adp.com.

Your Enrollment Checklist

Use this checklist to make the most of your Open Enrollment opportunity:

  • Learn about your benefit options, paying special attention to what’s changing for next year. Be sure to review the 2025 Open Enrollment Presentation, the 2025 Benefits Decision Guide on the LPL@Work home page, and meet online with ALEX for customized 2025 benefit recommendations – these key resources outline what’s new for 2025 and include valuable information on tools and resources available to help you get the most from your benefits.
  • Think about your coverage needs, including the health care you anticipate needing and whether your current life and disability insurance provides enough protection.
  • Use the tools and resources available to help you make informed decisions about your benefits.
  • Review and confirm your dependent and beneficiary information is up-to-date and correct, and all your dependents are still eligible.
  • Update your Health Savings Account (HSA) and/or Flexible Spending Account (FSA) contribution amount for 2025 — current ​HSA and FSA elections will not carry over to next year. If you take no action during Open Enrollment, your medical plan election will roll over, but you must re-enroll in your HSA or FSA.
  • Complete your benefits enrollment by November 15, 2024. Learn how to enroll.
  • Save your enrollment confirmation statement for your records.

Remember!

Once Open Enrollment ends, you cannot change your benefit elections. Mid-year changes are only permitted within 30 days of experiencing a Qualifying Life Event (QLE), such as marriage or birth of a child, or if a covered dependent gains or loses other coverage. An event submitted after 30 days will not be approved.

2025 Changes

Here’s a preview of important changes for 2025. Be sure to watch the 2025 Open Enrollment Presentation for additional details.

Benefit What’s Changing
Medical Premiums LPL remains committed to delivering benefits that enable accessible and affordable health care for all. While there will be moderate increases to employee medical rates for 2025, we'll continue our approach to premiums based on salary bands which helps keep increases proportional to income level. Please check ADP My Pay and Benefits for new rates.
Paid Parental Leave Increase Paid parental leave will be increasing! Starting in 2025, birthing parents can take, on average, 16 weeks of time off (a combination of short-term disability + parental leave) at 100% of their pay while non-birthing parents can take up to 10 weeks.
Expanded Fertility Coverage Aetna will expand fertility coverage to include Artificial Insemination (AI) and Intrauterine Insemination (IUI) as medical benefits. Coverage will be available with or without a medical diagnosis of infertility and without any separate limits. This change will make family-building options more accessible for our diverse and growing population. To learn more, contact Aetna Concierge at 1.866.987.0327 or visit your Aetna member website.
Short-Term Disability (STD) and Long-Term Disability (LTD) To better align with competitive practices and reduce costs for LPL and employees, we've made updates to our disability plans:
  • The Base Short-Term Disability benefit period will increase from 13 to 26 weeks.
  • The Base Long-Term Disability elimination period will increase from 90 to 180 days.
Rates for both buy-up plans will change; however, re-enrollment is not required. Your current elections will rollover into 2025. Please check ADP My Pay and Benefits for new rates.

Maven: Two Programs, One Goal – Supporting Your Family-Building Journey

LPL has partnered with Maven to provide employees two, free benefit programs to help support your family-building journey, with tools and resources for every step:

  1. Maven’s Wallet Financial Assistance Program helps support the financial side of family-building with an easy-to-use expense management platform to help you understand your funding options from fertility treatments to surrogacy. Get reimbursed for up to $5,000 on eligible expenses related to your family-building journey.
  2. Maven’s Maternity Management Program offers comprehensive support through a virtual clinic for fertility and family-building, pregnancy, postpartum, parenting, and menopause support.

Maven is available to all benefits-eligible employees, spouses or domestic partners. Learn more about Maven on the LPL@Work home page or at mavenclinic.com/join/takecare.

Other Benefits for 2025

You’ll also continue to have access to the following benefit options and programs that are not changing for 2025:

Do I need to enroll during Open Enrollment?

Open Enrollment happens only once a year. Take the time now to compare your current benefits and costs to your available options for 2025, and make choices for the upcoming benefits plan year, which begins on January 1, 2025. Review this site and use the decision tools available to you to be confident that you are making the best decisions for you and your family.

IMPORTANT

If you wish to participate in the HSA and/or FSA in 2025, you must actively enroll. HSA and FSA elections do NOT roll over into the new plan year. If you take no action during Open Enrollment, your medical plan election will roll over, but your HSA and/or FSA election will not. You must re-enroll every year to participate.

What happens if I don’t enroll by November 15, 2024?

If you do not make election changes by November 15, 2024, your current benefits will roll over to 2025, with the exception of  Flexible Spending Account (FSA) and Health Savings Account (HSA) elections. Due to IRS regulations, you must enroll in the HSA and/or FSA(s) and designate your contribution amount during Open Enrollment if you want to participate in 2025 — even if you currently participate.

How to Enroll

Take Action November 1 – November 15!

During Open Enrollment, you’ll use the ADP My Pay and Benefits website to enroll in your benefits. Be sure to complete your 2025 benefits enrollment in ADP My Pay and Benefits no later than November 15, 2024.

  • Access while ON the LPL Network: The ADP My Pay and Benefits site is accessible via single sign-on (SSO) from the LPL@Work home page under My Apps/Systems. IMPORTANT: The SSO link does NOT work in Internet Explorer (IE). Please use Chrome, Edge, Firefox, or Safari to log in.
  • Access while OFF the LPL Network: If you've already registered for ADP Self Service, use your ADP My Pay and Benefits username and password to access the site (example username format: JSmith@lplp). To access the ADP Self Service portal to register or while not on the LPL network, go to https://my.adp.com. (First-time user? Enter registration code: lplp-lpl.)

If you forget your login credentials or if you experience technical difficulties during your enrollment, contact ADP's LPL Benefits Service Center at 1.855.894.7752 or LPLFinancialServiceCenter@adp.com.

Remember!

After Open Enrollment ends, you cannot change your benefit elections until the next Open Enrollment. Mid-year changes are only permitted within 30 days of experiencing a Qualifying Life Event (QLE), such as marriage or birth of a child, or if a covered dependent gains or loses other coverage. An event submitted after 30 days will not be approved.