MONEY
Give Your Financial Wellbeing a Boost: Five Easy Steps You Can Take Now
1. Make small changes for a big impact.
Consider your current expenses and what small, simple changes you can make today to boost your savings for tomorrow.
2. Maximize your 401(k).
Contribute as much as you can, don't miss out on Company matching contributions, and don't forget about auto escalation.
3. Take advantage of EAP financial counseling.
Receive two free telephone financial consultations, and continue working with your coach at a discounted rate.
4. Set financial goals and manage to a budget.
Put your goals in place and make actionable, realistic plans.
5. Keep up-to-date on all your accounts.
Check-in regularly and confirm everything looks correct.
Don’t Forget About Tax-Savings with the Commuter Benefit Program
With the Commuter Benefit Program, you can pay for eligible transit and parking expenses tax free (up to IRS limits). To do so, you have two account options—the transit account and the parking account. Depending on your eligible transit and parking expenses, you may make a Commuter Benefit contribution election for one account (or both) each month. Keep in mind, this is a month-to-month benefit. The deadline to participate for the month of May is April 10, and May 10 to participate for the month of June. And, if you won’t use the amounts you set aside for April because you’re currently working from home, take that into account if you make a Commuter Benefit contribution election for May and/or June.
For 2020, you may contribute up to $570 per month pre-tax to your commuter transit account, and up to $670 per month pre-tax to your commuter parking account. Note that state and/or local taxes may apply. Go to the ABC website to register and make your Commuter Benefit contribution elections.
This content is intended to provide only basic information regarding the ABC Global LLC Group Benefits Plan (the Plan), the ABC Global LLC Cafeteria Plan, and the ABC Global LLC Thrift 401(k) Savings Plan (the 401(k) Savings Plan), not all the details. For more detailed benefits information, please refer to the appropriate Summary Plan Descriptions (SPDs), and any applicable Summary of Material Modifications (SMMs) to those SPDs. Every attempt was made to make this communication as accurate as possible. However, if a discrepancy exists between this communication and the official plan documents, the plan documents will govern. While it is appropriate to contact the ABC International Benefits Center or applicable claims administrator, respectively, with questions regarding your plan eligibility or coverage (or the ABC International Retirement and Savings Plan Center for 401(k) Savings Plan-related questions), no ABC International employee—such as a manager or member of the People Team—is authorized to make any representations regarding eligibility for, or coverage under, any plan. You should therefore not rely on any such representation. This site is not intended for employees represented by a union, since they receive benefits according to their applicable bargaining agreement.