Summary: This guide will cover various aspects of the AbbVie 401k Plan and pension plan, including accessing your account through the AbbVie Retirement Plan login portal. I will dive right into the specifics of the 401k plan, such as contribution options, investment choices, employer matching contributions, and vesting schedules. Additionally, I discuss important considerations, such as rollovers, beneficiary designations, and withdrawal rules.
My AbbVie 401k Plan Guide
Are you an employee or a retired employee of AbbVie? This post aims to provide you with all the facts you need to know about the company’s 401k plans. Understanding the details of your retirement benefits is crucial for making informed decisions and planning for your financial future.
By familiarizing yourself with AbbVie’s retirement plan and 401k information, you can take full advantage of the benefits and ensure a secure and comfortable retirement. So, let’s dive into the details and empower you to make the most of your retirement savings.
What is Abbvie?
Abbvie is a renowned global biopharmaceutical company that discovers, develops, and delivers innovative medicines and therapies. Established in 2013 as a spin-off from Abbott Laboratories, AbbVie has since grown into a leading player in the pharmaceutical industry.
The company is committed to addressing some of the world’s most pressing health challenges, specializing in immunology, oncology, neuroscience, virology, and general medicine. AbbVie aims to improve and extend people’s lives worldwide through groundbreaking research, cutting-edge science, and patient-centric approaches.
One of the ways AbbVie supports its employees in preparing for their retirement is through its 401k matching plan. This plan enables employees to contribute a portion of their salary to a retirement savings account on a pre-tax basis. AbbVie then matches a percentage of these contributions, providing additional funds to employees as a valuable benefit.
It’s worth noting that AbbVie’s commitment to its employees goes beyond the 401k matching plan. The company offers a range of competitive pension benefits, including healthcare coverage, life insurance, disability programs, employee assistance programs, and opportunities for professional development and growth. In other words, AbbVie is one of those companies that empower retirement.
Company 401k Login
To log into AbbVie’s 401k portal and access your retirement account, follow these steps:
- Open a web browser on your computer or mobile device and go to the AbbVie employee portal website. The exact URL or web address may vary, so you can check with your HR department or refer to any communication or documentation provided by AbbVie regarding the retirement plan.
- On the login page, enter your unique login credentials. Typically, this will involve providing your employee ID or username and a password. If you are a new user or have forgotten your login information, there should be an option to reset your password or register for a new account. Follow the instructions provided to complete the process.
- After entering your login credentials, click the “Login” or “Sign In” button to proceed.
- Once logged in, navigate to the section or tab related to retirement benefits or 401k. This may be labeled as a “Retirement Savings Plan,” “401k Plan,” or a similar designation.
- In the retirement benefits section, you should find information and tools for managing your 401k account. This may include viewing your current balance, making contribution changes, adjusting investment allocations, and accessing educational resources.
- If you encounter any issues during the login process or need assistance with your account, look for contact information or support options provided on the website. AbbVie’s HR department or the plan administrator should be able to provide further guidance and help resolve any concerns.
Abbvie 401k Plan Name + Details
When AbbVie acquired the Company, it took on the role of sponsoring the Plan. As a result, some changes were made, including renaming the Plan. The original name, the Allergan, Inc. Retirement 401(k) Plan, was replaced with the new name, the Legacy Allergan, Inc. Retirement 401(k) Plan.
This transition occurred in conjunction with AbbVie’s acquisition of the Company, signifying AbbVie’s responsibility as the sponsor and custodian of the Plan going forward.
EIN (Employer Identification Number)
- Organization Name – Abbvie Inc.
- IRS EIN (Taxpayer Id) – 32-0375147
- Doing Business As – Abbvie Inc
- Type of business – Pharmaceutical Preparations
Who Is The 401k Administrator of Abbvie
As of May 8, 2020, the administrator of the Plan shifted from the Allergan Employee Benefits Committee to the Vice President of Total Rewards of AbbVie. This change reflects the transfer of administrative responsibilities to AbbVie’s designated representative, who now oversees the Plan.
- Business Phone: (847) 932-7900
- Mailing Address: 1 North Waukegan Road, North Chicago, Illinois, 60064
How To Rollover An Abbvie 401k To a Gold IRA
If you’re interested in rolling over your AbbVie 401k to a Gold IRA, here are the general steps to follow:
Research and Select a Gold IRA Custodian: Start by researching reputable gold IRA custodians who specialize in facilitating precious metals investments within IRAs. Look for custodians with a solid track record, reliable customer service, competitive fees, and a wide selection of approved gold products.
- Open a Gold IRA Account: After you’ve chosen a custodian, contact them to open a Gold IRA account. They will guide you through the necessary paperwork and requirements to establish the account. You may need to provide personal information, such as your name, address, and Social Security number.
- Initiate a Direct Rollover: Contact the administrator of your AbbVie 401k plan and request a direct rollover to your newly established Gold IRA account. To avoid tax implications or penalties, it’s essential to ensure the funds are transferred directly from your 401k to the Gold IRA custodian.
- Choose Gold Investments: Work with your Gold IRA custodian to select suitable gold investments for your portfolio. They will provide options and guidance on approved gold coins or bars that meet IRS requirements for inclusion in an IRA.
- Complete Transfer and Documentation: Once the direct rollover is initiated, the funds from your AbbVie 401k will be transferred to your Gold IRA account. Your custodian will handle the transfer process and provide you with the necessary documentation and account statements.
- Monitor and Manage Your Gold IRA: Regularly review your Gold IRA account statements and monitor the performance of your gold investments. You may adjust your portfolio over time based on your investment goals and market conditions.
Saving for retirement is crucial for ensuring financial security in your golden years. You can build your Abbvie savings plan by contributing to a 401k and self-directed IRA. However, setting up a precious metals IRA account is the ideal solution for those interested in diversifying their portfolio with precious metals. Start securing your retirement today with a precious metals IRA.
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