Retirement

Assurant offers several ways for you to save for retirement through either a pretax, Roth, or traditional after-tax 401(k) option. It is never too early (or too late) to start saving for retirement. The Assurant 401(k) Plan can be one source of your total retirement income, along with Social Security and your personal savings. Here are some features of the Plan:

Employer-sponsored retirement savings plan.

You can make pretax, Roth, and/or traditional after-tax contributions after 30 days of employment.

Company matching contributions:

• Assurant matches $1 for every $1 you contribute on a combined pre-tax and/or Roth basis, up to 6% of your eligible pay.
• Are made each pay period and invested according to your investment elections.
• 100% vested after two years of service.
  

Diverse investment selection:

• Assurant offers you a choice of investments, making it easier to choose funds for your retirement savings. No matter your level of investing experience, you can create a portfolio that fits your investment objective, time horizon and comfort with risk.
• More information on funds can be found by logging into Vanguard’s website > Research Funds > Funds in My Plan.

Ability to accumulate savings.

Vanguard One Step offering:

• Employees are eligible to participate in the 401(k) Plan after 30 days of employment.
• If no action is taken, employees are automatically enrolled into the 401(k) Plan at 3% pre-tax contribution rate.
• If enrolled, each March the One Step auto-escalation feature will increase your pre-tax contribution rate 1% each year up to 15%.
• Contributions are invested in the appropriate Target Retirement Trust for the employee’s age. Employees can change their investment at any time.

If you’re not sure how much to save in the 401(k) Plan, are ready to contribute, want to increase your contributions, or have questions:

• Log on to retirementplans.vanguard.com.
• Call Vanguard at 1-800-523-1188.

The Retirement box on your W-2 is checked if you participated in an Assurant employer-sponsored retirement plan during the tax year. This includes plans like a 401(k) or pension plan. Checking this box informs the IRS that you have contributions to a retirement plan, which may affect your eligibility for certain tax benefits.

At Assurant, our purpose is helping people thrive in a connected world and that includes our employees. As you plan for the exciting – and sometimes daunting - next step of retirement, we have compiled this information to serve as a tool for employees starting to think about retirement. When combined with Social Security benefits and personal savings, the Assurant retirement plans can help with your financial security after leaving the workplace.

We try to anticipate your questions about qualifying retirement age and years of service, 401(k) retirement plans, and if eligible, the Assurant Pension Plan.  We also have included information about the equity plans for those employees who are eligible to participate.

Please note: not all employees who are retiring from Assurant are eligible for all the retiree benefits outlined in this resource. In the event of your untimely passing, your spouse/domestic partner would be eligible to stay on the Early Retiree Medical Plan until the earlier of when they pass away, or through the end of the year of your passing. They will then be offered COBRA coverage for 36 months or until age 65, whichever is earliest. 

Click here to learn more about planning for your retirement. 

If you have any questions, please begin a chat with ERIN or contact the People Experience Center at 1-866-324- 6513. We hope this is a helpful resource as you plan for retirement and prepare for the future.