Contributing to a 401(k) is one of the best ways to prepare yourself for a great retirement and a secure future. All employees (18 years and older) are automatically enrolled and contribute 4% of their pay. For 2026, employees may contribute up to $24,500. If you’re 50-59 or 64+ years old in the calendar year, you can contribute an additional $8,000. If you are between 60-63 years old in the calendar year, you can contribute an additional $11,250. You should review your retirement goals to ensure your contribution matches your target retirement income.
To support you in your retirement goals, Millennium Health matches your contribution, dollar for dollar, up to 2% of your eligible compensation.
You are eligible to contribute up to annual IRS limits (including contributions made by Millennium Health). Personal contributions are added to your account through convenient payroll deductions.
For more information or to access your account, visit www.401k.com or reach out to Fidelity at
(800) 835-5097.
In addition to the traditional pre-tax 401(k) contributions, you have an option to make after-tax (Roth) contributions to the plan. The key difference between a traditional and Roth 401(k) is the tax treatment. Unlike a traditional pre-tax 401(k), the money you put into your Roth 401(k) is taxed when it’s deposited. Since Roth 401(k) contributions are made on an after-tax basis, the money you withdraw as a qualified distribution is not taxed. A qualified distribution is a withdrawal from the account after you have reached age 59-1/2 and the initial funds have been deposited for a minimum of five years.
You will still have access to the traditional pre-tax 401(k), however, the Roth option may fit your needs better if you expect to be in a higher tax bracket once you retire than you are now or if there is a significant amount of time before you plan to retire where the funds can grow tax-free.
For more information on the advantages of contributing to a Roth, watch the video here or by scanning the QR below.
