Your Contributions
MAA Matching Contributions
You may elect to contribute 1% to 75% of your pre-tax and/or after-tax eligible pay, up to the annual contribution limit established by the IRS. Below are the annual contribution limits for 2023.
MAA MAA will match 100% of each dollar for the first 3% of eligible pay you contribute, plus 50% of each dollar for the next 2% of eligible pay you contribute, for a total of 4%. The matching contributions are funded to your account each pay period and immediately vested.
• Under age 50 = $22,500 in 2023 • Age 50 or older = $30,000 in 2023
The MAA 401(k) Savings Plan is designed to help you reach your long-term financial goals. To ensure that you are maximizing this benefit, consider the questions below:
Am I contributing enough to maximize the company match?
If you aren't contributing at least 5% of your eligible pay, you may want to think about increasing your contribution election. You can review your investment by calling Empower at (844) 465-4455 or visiting empowermyretirement.com. Licensed call center staff and additional services like My Total Retirement and Online Advice can provide you with personalized investment and savings advice. Call (844) 465- 4455 for more information. Visit empowermyretirement.com to enter, review or update your beneficiary designation.
Have I chosen the right investments under the Plan?
Have I designated a beneficiary?
Employee Assistance Program (EAP) When you experience life’s challenges, our Employee Assistance Program (EAP) through Cigna is available to help 24/7/365. This free, confidential program is available to you and members of your household, and you do not need to be enrolled in one of MAA’s medical plans in order to take advantage of this valuable benefit. Cigna’s library of programs and services is a great place to start. If you can’t seem to find exactly what you’re looking for, they’re always just a call or click away. Cigna’s dedicated staff of personal advocates can help you: • Assess your needs and find a solution to help resolve your concerns • Get you the help you need when you’re in a crisis situation • Provide up to 5 face-to-face sessions per issue per year with a mental health or substance use professional or connect you with the right professional in your Cigna network • Direct you to a variety of helpful resources in your community • Show you how to get discounts on many health and wellness products through the Healthy Rewards ® program Click here to learn more, call (888) 371-1125 or visit myCigna.com and log in using the employer ID: midamerica. Additional EAP Resources for Behavioral Health Happify are science-based activities and games designed to help you overcome negative thoughts, stress and life’s challenges. Happify fits into your busy schedule and can be accessed anytime from a desktop or mobile device. Click here for more information. iPrevail helps overcome anxiety, depression, eating disorders, grief, panic and more with on- demand coaching and personalized lesson plans based on proven cognitive behavioral therapies. Engage with peer coaches or work through the activities and lessons on your own. Click here for more information.
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