Make the most of National 401(k) Day

National 401(k) Day is observed every Sept. 10 as a dedicated moment to check in on your workplace retirement savings. It’s a time to celebrate the progress you’ve already made and explore a few simple ways to keep that momentum going, whether you’ve been saving for decades or are just getting started.

This year, here are five things worth exploring as part of National 401(k) Day.

1. Enroll in your workplace retirement plan

A 401(k) is a tax-deferred workplace retirement plan that lets you set aside a portion of your paycheck before taxes, which may help your savings grow over time. If you haven’t enrolled yet, National 401(k) Day can be a timely opportunity to learn what your plan offers and take that first step.

2. Use myOrangeMoney® to see your retirement picture

One retirement planning tool available to plan participants is myOrangeMoney,* It helps translate your current retirement savings into a projection of estimated monthly income in retirement, so you can get a clearer picture of where things stand.

From there, you can explore how different contribution levels might affect your retirement savings over time. It’s a helpful way to spot any gaps and consider whether adjusting your contributions could make sense for your situation. Even a small change today may make a difference in your projected retirement picture down the road. Review myOrangeMoney estimates

Not a Voya participant? You can still access our online myOrangeMoney calculator to get your retirement estimate.

3. Review your beneficiary designations

Life has a way of changing, and your retirement account beneficiary designations are worth revisiting when it does. Some common life events that may signal a good time to take another look include:

• Marriage or divorce
• The birth or adoption of a child
• The loss of a loved one
• A change in your financial goals or wishes

Your beneficiary designation determines who receives your retirement account assets, and it’s a detail that’s easy to overlook. Taking a few minutes to log in to your retirement plan account and review your current selections can be a meaningful part of staying organized with your financial life.

4. Go paperless

Switching to paperless delivery is one of the easiest updates you can make to your retirement account. Some of the benefits worth knowing about:

• Get an email notification as soon as your documents are ready.
• Keep your financial documents organized in one convenient, secure place.
• Access statements and important documents instantly on our secure website.
• Skip the wait for paper copies to arrive by mail.

For plan participants who like having information at their fingertips, paperless delivery is a convenient option worth exploring. You can update your delivery preferences anytime by logging in and confirming your preference, if prompted. 

If you do not see a prompt, select your name in the top right corner and choose Communication Preferences. Scroll to Paperless or Mail Options, select Edit, make your changes and then select Apply Changes.

5. Consider connecting with a financial professional

Retirement planning can feel overwhelming at any stage, and it’s OK to want a little guidance. A financial professional can help you think through your retirement goals, review your current savings strategy and explore options that may be a good fit for your unique situation.

A good time to check in

Retirement planning is a long-term journey, and no single step is going to define the outcome. But taking small, thoughtful actions along the way, like using National 401(k) Day as an annual check-in, can help keep you engaged, informed and moving in the right direction.

Log in to your retirement plan account and explore what feels right for where you are right now. Log In Today