New Year, New Ways Your Benefits Are Working for You
As we turn the page on a difficult year, we’re excited to announce some developments in our benefits plan to help you — our most valued asset — make the most of 2021.
We have worked with Discovery Benefits to extend access to your 2020 FSA balance, which means you can submit new claims through the end of 2021. Please note: If you did not elect an FSA for 2021, Discovery will issue new cards to you before the end of January.
New 401(k) Administrator
CoolSys is preparing for the future with Principal® as our new 401(k) administrator. We have been working with Principal, one of the largest 401(k) providers in the U.S., for more than a year.
The CoolSys, Inc., 401(k) plan will be moving from Wells Fargo Institutional Retirement & Trust to Principal Financial Group® in May 2021. There will be no changes to funds or fees. The transition will happen internally between Wells Fargo and Principal and will have no significant impact on you. You will only need to set up a log-in and password on the Principal site. The blackout period for the transition will take place over one weekend only, so you’ll have very little interruption in service.
Principal will be providing additional services, including no-charge will preparation and assistance finding loans and grants for advancing education. Watch your mailbox for more information from Wells Fargo in April.
When COVID-19 vaccines become more widely available, our medical carriers (both Anthem and Kaiser) will provide the vaccine at no charge. Click here to read this editions COVID update.