Retirement Savings Plan
Veradigm cares about your financial well-being, which includes having the financial resources to enjoy life once you retire. That’s why starting in January 2023, you will be automatically enrolled in the Veradigm Retirement Savings Plan at 4% of your eligible pay. (If you are already enrolled at a higher percentage, that will continue.) You can increase, decrease or suspend contributions at any time by logging in or by calling Charles Schwab at 800.724.7526.
Veradigm will match dollar-for-dollar up to the first 4% of your contributions. The plan recognizes base pay, bonuses,commissions and other forms of pay for matching purposes.
The way you invest in your retirement savings account is completely up to you—your contributions, Veradigm’s match, and any funds you roll over from another account can all be invested in our core portfolio of funds, target date funds that match the year you think you’ll retire, or even in a brokerage account you can set up.
How it works
Who is eligible
Regular full-time and part-time associates who are at least age 18 and working at least 20 hours per week.
When you can enroll
You can enroll in the retirement savings plan within five days following your first paycheck and you will enter the plan on the first day of the month following your eligibility.
You can contribute up to the IRS limits to your 401(k) and Roth 401(k) (combined) each year. For 2023:
- You will be able to contribute up to $22,500.
- If you are age 50 or older, you can make additional catch-up contributions of up to $7,500.
You can change your contributions to a higher or lower amount at any time during the year.
You can contribute up to 70% of your eligible pay in the 401(k) before-tax, Roth 401(k) after-tax or a combination thereof.
Veradigm will match dollar-for-dollar up to the first 4% of your contribution. The plan recognizes base pay, bonuses, commissions and other forms of pay for matching purposes.
When deductions begin
Typically, your next scheduled payroll once you enroll, after the administration process is complete.
You can increase, decrease or suspend contributions at any time. Contributions to your account cannot be forfeited for any reason.
You are 100% vested in your and Veradigm contributions.
When you can make withdrawals
In-service withdrawals are allowed in certain situations specified by your retirement plan.
- Leave of absence
How to enroll
You have multiple ways to enroll:
- Online: workplace.schwab.com, or
- App: workplace.schwab.com/mobile
Create a login using the Register Now button. Be sure to have this information handy: Social Security number, date of birth, zip code and email address.
You can also enroll by calling the Schwab Plan Hotline at 800.724.7526. Once you’re enrolled, you can make changes to your investment and savings elections at any time.
You can typically change the investment allocations of your existing account balances, change the investment selections for future contributions, or change your beneficiary(ies) as often as you like, though changes may take time to process.
When you enroll in the retirement savings plan, you have a variety of investment options to help you build, diversify and maintain your savings over time.
For help with your investments
- Target Date Retirement Funds
Funds designed and professionally managed based on a target retirement date year.
An independent investment advisor that provides personalized savings and investment recommendations, at no cost to you.
- Risk Based Model Portfolio
A mixture of funds based on a selected level of risk and are constructed from funds that exist in the Plan’s current fund lineup.
For more information, contact Schwab Participant Services at 800.724.7526.
To invest on your own
- Plan-selected Funds
A broad solution of funds representing a variety of asset classes.
- Personal Choice Retirement Account (PCRA)
For experienced investors, provides additional funds beyond the Plan- Selected Funds, and may have some transaction fees and trading costs. For more information, contact the PCRA team at 888.393.7272.