From purposeful career development and inclusive and diverse work teams, Alcoa employees turn raw potential into real progress. 1-888-ALCOA123 This automated telephone system is available 24 hours a day Monday through Saturday, and after 1 p.m. Eastern Time on Sunday. Our innovative cast-products network gives us a commercial edge, producing premium aluminum products and delivering expert technical services to our customers. Medical and MH/SA benefits payable under the Alcoa-sponsored plan will be reduced by the amounts Medicare Parts A and B would have paid whether you actually enroll in them or not. Last name*. Divorce doesnt even disqualify you from survivor benefits. Your election to receive the cash amount of your account or to roll it over to another eligible employer plan or IRA must be received within 90 days of termination of employment or the following default treatment will apply. Your rollover IRA will be invested in a fund designed to preserve principal and provide a reasonable rate of return consistent with liquidity. Copyright 2012 - 2019 BAM | All Rights Reserved |. The tax benefit comes when you transfer the company stock from a tax-deferred account to a taxable account. Meet financial requirements of day-to-day living Annual enrollment for yourAlcoa benefits usually occurs each fall. Alcoa Inc. Industrial Hygienist Job in Newburgh, IN | Glassdoor Of the 123 funds that provided asset data, Alcoa of Australia Retirement Planranks 64 largest in terms of total assets under management,which are valued at approximately $2.36 billion. Check your plan summary to see if youre eligible to enroll in Medicare Parts A and B. You might find yourself with very tempting job opportunities at a time when you thought youd be withdrawing from the workforce. Disclaimer: Securities offered through FSC Securities Corporation, member FINRA/SIPC. Alcoa offers competitive compensation and benefits packages to their people. You may receive a lump sum distribution equal to the total or partial value of your account or roll it over to another eligible employer plan or IRA account. Each partial cash payout must be at least $250 amounts from the Alcoa Stock Fund can be received as shares in kind . Were on a mission to build a better future, one where aluminum will play an even larger role in solving challenges in a carbon-constrained world. Jan 24, 2018. Discover Alcoas top 2022 news showing how were reinventing the aluminum industry for a sustainable future. Generally speaking, you can withdraw amounts from your account while still employed under the circumstances described below. Via Benefits - This way to personalized benefits This fee covers the costs of the administration of the Alcoa Retirement Savings Plan and includes items such as the cost of communication materials, recordkeeping, audit and trustee fees in addition to operating a call center and website. Hmm we don't see any results for that. The automatic increase feature is a convenient way to incrementally increase your pre-tax contribution rate to gradually build your savings over time. Conferences. Continue to move forward and provide every important information that is asked of you to create a new account online. 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. A member of our team will be in touch shortly. We actively engage with our stakeholders in the communities where we operate. Review your benefits information and utilize the tools and resources available on the Alcoa Benefits Center website. Our site requires that you have JavaScript enabled in your browser. Alcoa Corporation is an American industrial corporation. Maybe you lose your job, have a serious health emergency, or face some other reason that you need a lot of cash. Target Team Member Services. 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. Require additional assistance with your personal benefits? The non-toll-free number for international callers is 847-883-0956. And we are creating game-changing innovations in aluminum smelting. Glassdoor is your resource for information about the Retirement Plan benefits at Alcoa. After Completing Company Contribution 1 year of accredited service2.5%6 years of accredited service5%9 years of accredited service10%. It will also tell you what you need to do to receive your final distribution. Compare health care and insurance options. 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. To access the YBR website, Alcoa requires you to use your personal user ID and password*. Before you can start your pension and for each former spouse who may have an interest youll need to provide Alcoa with the following documentation: Provide Alcoa with any requested documentationto avoid having your pension benefit delayed or suspended. Online Utility Bill Pay Agendas & Minutes Report a Power Outage Employment Opportunities Trash / Recycling Notify Me City Spotlights What's Happening in Alcoa View All Spotlights News Flash You will have the option to keep the benefit coverage shown on your upfront confirmation statement or select benefits that better support your needs. The personal exemption for tax year 2022 remains at $0, as it was for 2021; this elimination of the personal exemption was a provision in the Tax Cuts and Jobs Act. . EIS is not connected with or endorsed by the US government or the Center for Medicare Services. Their main products are aluminum, fabricated aluminum, and alumina combined. VIEW PRODUCTS, An Alcoa joint venture is ramping up a technology that eliminates all greenhouse gases (GHGs) from the traditional process used to make aluminum. There are important changes for the Earned Income Tax Credit (EITC) that taxpayers should know: The income threshold has been increased for single filers with no children; the American Rescue Plan Act temporarily boosted it from $543 to $1,502 in 2021. We have experts in every state of the U.S. Our benefit advisors are Select the New User? the Your Benefits Resources website or call 1-888-ALCOA123 (1-888-252-6212); see page ii for details. And as a recognized leader in Environmental, Social and Governance (ESG) practices, we actively work with industry partners, governments, associations, and communities to maximize our value. 2021 RetirementTalk.net | The Retirement Group, LLC is registered to conduct advisory business in the following states: AZ, CA, CO, FL, ID, IL, IN, LA, MD, MI, MO, NE, NV, NJ, NY, NC, OK, OR, PA, SC, SD, TX, UT, VA, WA. - If Alcoa will match up to 3% of your plan contributions and you only contribute 2% of your salary, you arent getting the full amount of Alcoa's potential match. How much we recommend that you invest toward retirement is always based on your unique financial situation and goals. Our world needs more efficient, sustainable approaches, and Alcoa is uniquely positioned to deliver the solutions. You will be directed to your account details where you may start to manage or review as soon as your registration has been successfully completed. According to the Employee Benefit Research Institute (EBRI), Medicare will only cover about 60% of an individuals medical expenses. At Arconic, we take pride in our work and our innovative products and technologies that advance sustainable solutions for a better world. Current and former employees report that Alcoa provides the following benefits. Company name*. Two flexible distribution options for your IRA. Benefits allowance; Performance related bonus (variable) Superannuation above guarantee; 16 . 401K Plan. Your life insurance coverage and any optional coverage you purchase for your spouse/domestic partner and/or children ends on the date your employment ends, unless your employment ends due to disability. transact business as an insurance agency, in all states and the District of Columbia. Build your own medical plan, selecting from various coverage options. Illinois Municipal Retirement Fund Phone Number, What Type Of Retirement Plan Is Tiaa Cref, After Full Retirement How Much Can I Earn, What Inflation Rate Should I Use For Retirement Planning, Accidental Death and Dismemberment Insurance. Final Average Pensionable Pay subtotal - Social Security offset = Basic Pension Monthly Benefit. On November 17, 2021, Alcoa announced that it will transfer approximately $1 billion of pension obligations to Athene, an insurance company affiliated with the private equity firm Apollo Global Management. Understand the expenses and services that your options cover. As an employee at Alcoa, you may be interested in understanding NUA from a financial advisor. Find the location of Alight offices in your region. No matter where you stand in the planning process, or your current age, we hope this guide gives you a good overview of the steps to take, and provides some resources that can help you simplify your transition into retirement and get the most from your benefits. This wasn't available in previous years. Alcoa -- Home Alcoa offers competitive compensation and benefits packages to their people. How do I find my companys HR service center website or contact information? Banks make you jump through too many hoops for a personal loan, credit cards charge too much interest, and suddenly, you start looking at your 401(k) account and doing some quick calculations about pushing your retirement off a few years to make up for taking some money out. * 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. As of Dec. 31, Alcoas global pension plan assets totaled $5.356 billion, while projected benefit obligations totaled $6.904 billion, for a funding ratio of 77.6%, according to its most recent 10-K filing with the SEC. 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. They also have a diverse and inclusive work force, rewarding employee volunteering initiatives, plus a strong safety culture and a commitment to work-life balance. But, take a second to see how this could adversely affect your retirement plans. As of 2020, they have a record of almost 13,000 employees in their organization. You can locate their contact information by using the Find My HR Website search feature. You can search for your companys name in the Find Your HR Website feature. https://leplb0460.upoint.alight.com/web/alcoausa, Named among the Worlds Most Admired Companies: Metals by, Included in the 100 Best Corporate Citizens by. Maybe you took a company offer and left earlier than you wanted and with less retirement savings than you needed. For more in-depth information on Social Security, please call us. YBR provides information, tools and calculators to help you: Information on your health and welfare, 401, pension and FSA benefits. Like most group annuity contracts, MetLife group annuities contain certain limitations, exclusions and terms for keeping them in force. Once they meet this limit, they can add an additional $6,500 in catch-up contributions. Our Alcoa Values drive every decision we make. Because a withdrawal permanently reduces your retirement savings and is subject to tax, you should always consider taking a loan from the plan instead of a withdrawal to meet your financial needs. In 2018, Alcoa had purchased a group annuity contract from Athene Annuity and Life Co. to transfer about $290 million in U.S. pension plan liabilities. Our products and break-through technologies are whats needed to address a variety of customer challenges, including helping lower the carbon footprint of end products by using responsibly produced aluminum. Thats how Alcoa will know whom to send your final compensation and benefits. If the market value of your account balance is over, $5,000, your savings will remain in the Plan until you reach age 70. This message and any attachments contain information, which may be confidential and/or privileged, and is intended for use only by the intended recipient. If an annuity provider becomes insolvent and is unable to meet its obligations, beneficiaries primary protection for recovering unpaid benefits would be the patchwork system of State Guaranty Associations.
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