Lawrence Livermore National Laboratory


Roth In-Plan Conversions are now available!

The LLNL Benefits Office is announcing a new feature called Roth In-Plan conversion that is now available in the LLNS 401(k) Plan. A Roth In-Plan conversion converts eligible Pre-Tax and After-Tax balances to Roth funds within your LLNS 401(k) Plan account. With Roth funds you have the opportunity to build tax-free retirement savings provided you meet appropriate qualification rules.

You may request a one-time conversion or sign up for automatic daily conversions. If you decide to enroll in automatic Roth In-Plan conversions, the Fidelity recordkeeping system will search for any new After-Tax contributions daily and convert those amounts to Roth funds on a daily basis. This automatic feature provides an opportunity for you to reduce your tax liability on each conversion because it eliminates the time the incoming After-Tax funds could potentially accrue taxable earnings. If you convert After-Tax contributions, you will owe taxes on any investment earnings generated before your conversion date. Income taxes are not withheld at the time of conversion. You must report these amounts when you file your taxes and pay any required tax on the investment earnings. It’s important to talk to your personal tax advisor before making the decision to convert.

Contact a Fidelity representative at 800-835-5095 for more information about the Roth In-Plan Conversion feature or to request a one-time conversion or sign up for automatic daily conversions.

FINANCIAL EDUCATION WORKSHOPS

The Benefits Office has scheduled a series of workshops to provide information intended to increase your awareness of programs available to enhance your future financial security.

Upcoming Sessions:

Comprehensive Retirement Workshop For Those With Pension Plan
8 a.m. to 2 p.m., Tuesday, May 28th, Building 543, Auditorium, Rm. 1001.
This half-day workshop is designed especially for those within 10 years of retirement. It will provide attendees with a complete overview of the retirement benefits available to Laboratory employees, including the LLNS 401(k) retirement plan, LLNS Defined Benefit Plan, UC Retirement Plan and eligibility requirements for continuing health and welfare benefits after retirement. Participants will receive information to assist in evaluating the financial impact of electing various payment options and discover methods to minimize possible taxes and/or penalties on distributions. In addition, this workshop will provide participants with a comprehensive look at Social Security and Medicare, long-term care, investment options after retirement, estate planning techniques and a host of other retirement planning tips.

The workshop is a "How To" primer for those who want the facts on retirement, as participants will be given the opportunity to present their questions to field experts.

Pre-registration is required and seating is limited. Employees may register a guest to accompany them. Badging for a guest is the responsibility of the employee. There is no cost to register. To register online click here.

Comprehensive Retirement Workshop For Those With 401(k) Only
8 a.m. to 2 p.m., Wednesday, May 29th, Building 543, Auditorium, Rm. 1001.
This half-day workshop is designed especially for those within 5 years of retirement. It will provide attendees with a complete overview of the retirement benefits available to Laboratory employees, including the LLNS 401(k) Retirement Plan. In addition, this workshop will provide participants with a comprehensive look at Social Security and Medicare, investment options after retirement, estate planning techniques, long-term care and a host of other retirement planning tips.

The workshop is a "How To" primer for those who want the facts on retirement, as participants will be given the opportunity to present their questions to field experts.

Pre-registration is required and seating is limited. Employees may register a guest to accompany them. Badging for a guest is the responsibility of the employee. There is no cost to register. To register online click here.


For a complete list of the 2019 financial education workshops, click here.