LPL Financial is committed to supporting your financial wellbeing — today and tomorrow. The LPL Financial 401(k) Plan helps you prepare for retirement by offering an easy, tax-advantaged way to save for your future financial needs.
One of the most important steps you can take today is to plan for your future financial security. A convenient and reliable way to build an income for your retirement is to participate in LPL Financial 401(k) Plan.
Manage your account
Visit the Empower Retirement website to enroll or manage your plan account:
You are immediately eligible upon your date of hire. If you don’t take any enrollment action — either enrolling yourself or opting out — you will be automatically enrolled, and 3% of your eligible pre-tax pay will be deducted each paycheck to be deposited to your 401(k) account. You may change your contribution rate and investment elections at any time. Visit the Empower Retirement website or call 888.411.4015.
The LPL Financial 401(k) Plan provides you with the opportunity to save for retirement on a tax-advantaged basis. As a participant, you may elect to defer a portion of your eligible wages. In addition, LPL Financial provides matching contributions for employees that have completed six (6) months of service. Matching contributions have a 3 year vesting schedule. The plan also includes a Roth feature allowing you to contribute after-tax dollars to the plan.
What’s the difference between before-tax and Roth after-tax contributions?
The LPL Financial 401(k) Plan gives you the flexibility to save for retirement in a variety of ways. You can make before-tax contributions, Roth after-tax contributions, or a combination of both.
Before-Tax Contributions | Roth After-Tax Contributions |
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Keep in mind that company contributions are made on a before-tax basis, no matter which contribution type(s) you select. |
It’s not too late to make up for lost time. If you’ll be 50 or older this year, take advantage of the opportunity to contribute up to an additional $6,500 in 2021.
To help you reach your retirement planning goals, LPL Financial makes the following company contributions to your plan account:
Company match contributions are allocated on a per-pay-period basis at a rate of 75¢ per $1.00 of employee contribution, with the match available on the first 8% of eligible wages. Contributions you make above 8% will receive no company match.
Vesting is another way of saying “how much of the money is yours to keep if you leave the company.” You are always 100% vested in your own contributions, including any investment gains and losses on the money.
You’ll become vested in company-matching contributions over a three-year period.
The value of your contributions, and any company contributions, will vary with investment gains and losses.
It's important to designate a beneficiary to receive the value of your 401(k) account in the event you die before receiving your benefit. As personal circumstances change, be sure to keep that information up-to-date. Visit the Empower Retirement website to add or change a beneficiary.
The money in your account is intended as a long-term investment to help you prepare for your financial needs in retirement. However, under certain circumstances, you may be able to access money from your account before reaching retirement age. For more information, visit the Empower Retirement website or call 888.411.4015.
If you’re considering taking a withdrawal or loan from your plan account, be sure to think about the impact it may have on your financial future:
Make the most of your retirement planning by taking advantage of these tools and resources:
Before investing, carefully consider the funds’ or investment options’ objectives, risks, charges, and expenses. Call 888.411.4015 for a prospectus and, if available, a summary prospectus, or an offering circular containing this and other information. Please read them carefully. Investing involves risk, including the risk of loss.