for you. Also, our benefit advisors are trained regarding Require additional assistance with your personal benefits? Disclaimer: Securities offered through FSC Securities Corporation, member FINRA/SIPC. Partial withdrawals: Withdraw any amount from your IRA at any time. Alcoa Employee Benefits All the listed benefits are extracted from job descriptions, reviews, and Q&A posted on Indeed. If the market value of your account balance is over, $5,000, your savings will remain in the Plan until you reach age 70. As Alcoans, this is part of who we are. Today, we are a full-service financial institution offering competitive savings and loan interest rates coupled with a wide variety of consumer-friendly financial services. Whether you need the . These limits are adjusted annually for inflation. Those principles are: Attributable Legible Contemporaneous Original Accurate These original ALCOA principles have since been updated to ALCOA+. Remember that a change in your investment elections affects only future contributions to your account. Fund expenses consist of the charges associated with the management and operating expenses of the investment fund. In light of ongoing gas supply challenges in Western Australia, a production unit has been taken offline at Alcoas Kwinana Alumina Refinery. *This feature is not available to SEC Section 16 Officers. Learn More. 401k, Pension, Retirement, Retiree, Health Insurance, Medical, Vision, Dental, IRA, Competitive Base Pay, Quarterly Bonus, Paid Time Off, Weekly Pay, Medical, Dental, Vision, Insurance, Health Savings Account, Flexible Spending Accounts, Short-Term and Long-Term Disability, Paid Family Medical Leave, Bereavement, Jury Duty and Parental Leave, Life, Dependent and Accident Insurance, Critical Illness Insurance, Savings Plan 401, Company Paid Retirement Benefit, Employee Stock Purchase Plan, Paid Holidays, Flexible Spending Accounts , Health Savings Account , Time Off and Flexible Days, Group Legal Plan, Group Home Auto Insurance, Pet Insurance, Employee Discounts, Adoption Reimbursement, Tuition Reimbursement and Student Loans, Well-Being Programs, etc, Monday until Friday, between 9:00 a.m. and 5:00 p.m., ET. Over half of plan participants admit they dont have the time, interest or knowledge needed to manage their 401(k) portfolio. If your survivor is enrolled as a dependent in your Alcoa-sponsored retiree medical coverage when you die, he or she needs to decide whether to keep it. It will also tell you what you need to do to receive your final distribution. * Your user ID, the last four digits of your SSN, and password keep your personal retirement information confidential and ensure that only you have access to this information. Please review the information you received from your employer regarding where to . As you enter your 50s and 60s, youre ideally at peak earning years with some of your major expenses, such as a mortgage or child-rearing, behind you or soon to be in the rearview mirror. The discovery is now called the Hall- Hroult process, which is one of the dominant processes for producing aluminum from bauxite ore.Fast Forward to the 2000s when in May 2007, Alcoa Inc. made a $27 billion hostile takeover bid for Alcan as an attempt to form the worlds largest aluminum producer. Financial Analyst salaries ($63k) Glassdoor is your resource for information about the Health Insurance benefits at Alcoa. you to schedule an enrollment call at the time most convenient The deal represents the latest in a series of pension risk transfer transactions Alcoa has completed in recent years to derisk its global pension plans. At The Retirement Group, we can help you understand how your Alcoa retirement scheme fits into your overall financial picture, and how to make that plan work for you. Additionally, the Plan also has the unique feature which allows you to request dividends from your Alcoa Stock Fund investments . Speak to an Expert Call for free one-on-one expert advice and support with selecting and enrolling in Medicare plans with confidence. RetirementTalk.com is a one-stop resource for everything you need to know about retirement. You may now be able to manage your account online. Just because the government has set a retirement age with its Social Security program doesnt mean you have to schedule your own life that way. By submitting this form, you are consenting to receive marketing emails from: HealthManagementCorp (HMC). Alcoa Corp., Pittsburgh, agreed to purchase a group annuity contract to transfer $55 million in pension plan assets to an insurance company. Approximately 11,200 pension plan participants will be affected. Were working to show the world what a sustainable aluminum company looks like. Type in the last 4 digits of your SSN in the space provided. 1 cause of bankruptcy in the United States. Before it begins, you will be mailed enrollment materials and an upfront confirmation statement reflecting your benefit coverage to the address on file. Our innovative cast-products network gives us a commercial edge, producing premium aluminum products and delivering expert technical services to our customers. You have two options: Source: The Retirement Group, Retirement Plans - Benefits and Savings, U.S. Department of Labor, 2019; Generating Income That Will Last Throughout Retirement, Fidelity, 2019. Our world needs more efficient, sustainable approaches, and Alcoa is uniquely positioned to deliver the solutions. Next Step: If you are unsure about Alcoa benefits, schedule a call to speak with one of our Alcoa-focused advisors. Phone number*. You will receive information on your choices. The transaction affects about 11,200 participants in Alcoas U.S. pension plans, and the Athene subsidiaries will take on the responsibility of paying benefits in December, the filing said. Alcoa (NYSE: AA) is a global industry leader in bauxite, alumina and aluminum products with a vision to reinvent the aluminum industry for a sustainable future. Alcoa Community FCU first opened its doors in 1957 and has been serving the financial needs of the Saline County Community for over 60 years. *Required Fields First name* Last name* Type in your current Password in the space provided. Financial benefits of working That agreement is set to transfer the benefit-paying responsibility for about 800 retirees and former employees in one of the companys pension plans in Suriname, the aluminum company disclosed in its 10-Q filing with the SEC. Disclaimer: Securities offered through FSC Securities Corporation, member FINRA/SIPC. Workers are far more likely to rely on their workplace defined contribution (DC) retirement plans as a source of income. Contact our support team. Our strategic priorities of Reduce Complexity, Drive Returns and Advance Sustainably have made Alcoa a strong company, allowing us to succeed throughout the commodity cycles and innovate for a sustainable future. Recommended Reading: Illinois Municipal Retirement Fund Phone Number. employer retirement income contributions discretionary contributions. LEARN MORE, We are the world's largest third-party producer of alumina. Happy to help. Meanwhile, workers who are older than 50 years old are eligible for an extra catch-up contribution of $6,500. Last year, some states had temporary relief provisions to avoid double taxation of income, but many of those provisions have expired. You can invest up to $19,500 into your retirement plan / 401(k). Alcoa has the industrys most extensive portfolio of low-carbon products in our SustanaTM brand. Whether you work for a large oil company like ExxonMobil or a large telecom company like AT&T, each company has a unique plan. This will affect your company-provided medical benefits. Ask a MetLife representative for costs and complete details. We strive to create a safe, inclusive and collaborative workplace with competitive benefits, development opportunities and a culture that values and rewards employees on all levels of the organization. Office of Supervisory Jurisdiction: 5414 Oberlin Dr #220, San Diego CA 92121 800.900.5867, www.fidelity.com/viewpoints/retirement/income-that-can-last-lifetime, https://seekingalpha.com/article/4268237-order-withdrawals-retirement-assets, https://www.aon.com/empowerresults/ensuring-retirees-get-health-care-need/, https://www.irs.gov/retirement-plans/composite-corporate-bond-rate-table, https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-tax-on-early-distributions, http://hr.chevron.com/northamerica/us/payprograms/executiveplans/dcp/, https://www.lawinsider.com/contracts/1tRmgtb07oJJieGzlZ0tjL/chevron-corp/incentive-plan/2018-02-02, Compound growth opportunities (as seen above). Alcoa Corporation is an American industrial corporation. In October, Alcoa agreed to purchase a group annuity contract to transfer about $55 million in pension plan assets to an undisclosed insurer. We are consistently recognized with inclusion in the Dow Jones Sustainability Indices, and we have global certifications from the Aluminum Stewardship Initiative, the industrys most comprehensive third-party system to validate responsible production practices. Check the status of your Social Security benefits before you retire. For example: Please visit the official company website directly to verify all benefit options and details.. Thats why were deliberate about creating a culture where everyone can do their best work and bring their authentic selves to work. You elect the automatic increase feature via the Your Benefits Resources website or by calling 1-888-ALCOA123 . Insurance, Health & Wellness Financial & Retirement Family & Parenting Vacation & Time Off Perks & Discounts Professional Support. Learn about Alcoa Health Insurance, including a description from the employer, and comments and ratings provided anonymously by current and former Alcoa employees. Anne-Catherine.Couture@alcoa.com. 73% of plan participants spend less than five hours researching their 401(k) investment choices each year, and when it comes to making account changes, the story is even worse. Job title*. RESOURCES: 2021 Global Medical Trend Report; 2019 Global Emotional Health Survey; 2021 Multinational Pooling Network Overview; The joint pension is not automatic. You may also visit the link(s) provided below for more information and verification.. ALCOA is an acronym for the original five principles of data integrity. We extract, process and refine the most recyclable mineral on the Earth. You should also know that the plan administrator reserves the right to modify the rules regarding withdrawals at any time, and may further restrict or limit the availability of withdrawals for administrative or other reasons. You can revoke your consent to receive emails at any time by using the Unsubscribe link, found at the bottom of every email. Note: You may receive faster support if your request is submitted through your HR website or over the phone number found on your HR website. Elise Hertz, SPHR, Lean Six Sigma Yellow Belt. Like most group annuity contracts, MetLife group annuities contain certain limitations, exclusions and terms for keeping them in force. Jan 24, 2018. . Dont try to do it alone.Get help with your 401(k) investments. You can search for your companys name in the Find Your HR Website feature. Their main products are aluminum, fabricated aluminum, and alumina combined. Engineer salaries ($76k) Financial Analyst jobs. How do I get assistance from my companys HR service center. Start the joint pension payments. Hearing-impaired callers can use the AT& T Relay Service TTY at 1-800-855-2880. Are you eligible for Medicare, or will be soon? To find out more information on strategies if divorce is affecting your retirement benefits, please give us a call. Alcoa spokesman Jim W. Beck said in an email the population includes retirees and beneficiaries. The portion of the plan that is made up of mutual funds and other investments can be rolled into an IRA for further tax deferral. A Charles Schwab study found several positive outcomes common to those using independent professional advice. If you experienced a job change, retirement or lapse in employment, the lookback rule may be an important option to consider when filing taxes this year. *We are not affiliated with or endorsed by your company or organization. Most companies HR service center websites have a Help or Contact Us feature on the login page that provides login directions as well as a direct contact number, if needed. We have best-in-class bauxite mining practices. document.write("