General Healthcare Resrouce's  Blog

Learn More About One of Your Best GHR Benefits

Nov 1, 2021 1:24:27 PM / by General Healthcare Resources

GHReat Tips Masthead 3

401(k) Piggy Bank GraphicMake more money. Save more money. Prepare for your future. That is exactly what the GHR 401(k) benefit program does for you!

If you’re not familiar with this amazing benefit, you owe it to yourself to spend the next few minutes learning about the amazing advantages this program offers.

What’s a 401(k)?

In a nutshell, our 401(k) Plan Program is a retirement savings vehicle that allows you to have a portion of each weekly paycheck directly paid into a long-term investment account. All GHR employees are eligible to take part in our program immediately upon hire!

Program Options and Tax Advantages

Our GHR program offers two types of 401(k) plans: a traditional 401(k) account and a Roth 401(k) account. Both offer you federal tax advantages. The best option will depend on your individual circumstances.

In a traditional 401(k), contributions are taken out of your pay before federal taxes are withheld and lowers your taxable income. Instead, you pay taxes as funds are withdrawn.

With a Roth 401(k) plan, your contributions are taken out of your pay after taxes are withheld but are tax free when withdrawn.

Free Money!

Even better, GHR also contributes money to your 401(k) once you’ve met the 1-year requirement for matching. We match 33% of your weekly contribution up to 6% of your pay!

Investment Earnings

Our GHR 401(k) plans offer a variety of investment options to choose from, allowing you to control your investment choices and grow your investment over time.

Your Money is Your Money

Even if you change jobs, the money you have contributed to your 401(k) and its earnings belong to you.

Bottom line, the GHR 401(k) Plan Program is a fantastic way to save money for your future, make free money from GHR contributions, and take advantage of some great federal tax savings.

For more information contact our Human Resources Department at 610-684-4750 or the plans support number at 800-695-7526. Stay Well.

Topics: Great Tips