Principal Retirement
403(b)
If you are eligible, you will be automatically enrolled in the Family Health Centers of San Diego 403(b) plan at 6%, which means 6% of your eligible pay will be deducted from your paycheck and contributed to the retirement plan on your behalf. Please see Eligible Automatic Contribution Arrangement Participant notice for more details. You will receive a Welcome email with a link to the notice. Plan notices are also available by login into your account on Principal’s website.
How Do I Get Started?
- Set up your Online Account Access.
Go to www.principal.com and select individual log in then follow the steps for first time log in. - Keeping your Account Access Safe!
The first time you log in you’ll be prompted to choose where we send you verification codes.
We use verification codes to help keep your account access safe. If you log in from an unrecognized computer or mobile phone, forget your password or we identify anything out of the ordinary, these codes help us confirm it’s really you accessing your account – not someone pretending to be you. You can choose to receive these codes every time you log in or only when we detect unusual activity. - Designate your Beneficiary
Naming a beneficiary ensure your retirement savings are distributed how you want. You can designate your beneficiary or beneficiaries online. - Need Additional Help?
Work toward your personal retirement goals with an experienced retirement professional. You’ll be able to determine
personal goals and needs, create a personalized action plan and more. Schedule to meet your virtual Principal Retire Secure professional today at www.principal.com/virtual1on1.
Investments
Investments
If you do not make an investment election, your contributions will be invested in the plan’s Qualified Default Investment Alternative (QDIA). Please see Important Participant Notice Regarding Qualified Default Investment Alternative notice for more details. This information is located via your Welcome email.
Contribution Matching/Vesting Schedule
Contribution Matching and Vesting Schedule
FHCSD will match 50% on up to 10% of your contribution through salary deferral. You are always %100 vested in the contributions you choose to defer. You are vested in employer contributions based on years of service with FHCSD.
<1.0 years = 0%
1.0 year= 25%
2.0 years = 50%
3.0 years= 75%
4.0 years= 100%
How Do I Change My Contribution Rate?
You can change your 403(b) retirement contribution rate directly on Principal’s site at www.principal.com and register your account. From there you will be asked to enter basic personal information (i.e your first name, last name, SSN [your ID Number] and zip code). Within your account you will have the ability to view your account balance, change your contribution percentage, participate in the investor assessment, and utilize Virtual coaching as well as many other features. You may reach out to Principal directly at 800.547.7754 if you have any questions regarding your account or have difficulties logging in.
What is the maximum amount I can contribute?
- 403(b) Contribution limits have increased to $23,000 for the 2024 plan year.
- 403(b) Catch-Up limits have increased to $7,500 for the 2024 plan year.
How Do I Get Started?
Should you decide to enroll into the 457b plan, you’ll need to complete the 2024 Plan Year Enrollment Form & Beneficiary Designation Form and return to Wellness@fhcsd.org , so that we can manually enter your enrollment.
How Do I Change My Contribution Rate?
Should you desire to change your contribution percentage amount at any point during the year, you will need to complete the 2024 Plan Year 457b Elective Deferral Form that will need to be sent to Wellness@fhcsd.org for a manual entry.
What is the maximum amount I can contribute?
457(b) limits have increased to $23,000 for the 2024 plan year.
Principal Milestones
We know there’s a lot to think about when it comes to your finances — both now and later. But with the right knowledge, you can live well today and plan well for tomorrow. Principal® Milestones can help you prioritize and make more informed decisions with financial resources in one convenient place at no cost to you. Visit principal.com/Milestones to learn about the following topics and more.
