Careers rarely follow a straight path to retirement, and Kelly, senior director of change management, understands that better than most.
Between career pivots and life milestones, planning for retirement sometimes felt cumbersome. Now, as retirement is coming closer into focus, NM’s new 401(k) flex plan is helping Kelly save the retirement she’s always envisioned — a relaxing life in Florida.
During open enrollment, eligible NM employees make their 401(k) flex choices by receiving a company contribution and choosing how to allocate a portion of these dollars. NM provides an automatic 2% core amount that goes directly to the 401(k) plan each paycheck.
Employees then pick how to direct their 2% Flex contribution – they can choose to put 2% towards their retirement for a full 4% contribution to their 401(k), invest the 2% into a Health Savings Account (HSA)*, or opt to use the 2% to pay down student loan debt*.
As her children grow older and she has a clearer picture of what she wants her retirement to look like, Kelly is shifting her focus. And thankfully, NM’s 401(k) Flex plan gives her choices to support her future.
The flexibility to decide where the 2% flex contribution goes has been a game changer for Kelly, whose choice was clear: put the full 4% toward retirement. “We're at a point in our lives where we want to focus and ensure we're putting away as much as possible so that we can have our dream,” Kelly said.
Here at NM, we care about our employees as individuals and are committed to supporting their well-being through a comprehensive benefits package that spans physical, emotional, and financial health.
Check out our open roles and apply today.
*If the 2% contribution is greater than $4,000, then the remaining amount will be directed to an employee’s 401(k). This is to help ensure they do not contribute more than the IRS limit for HSAs and student loan repayments.
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