Financial Well-Being
What you need to know
This is the spot to find ideas for boosting your financial well-being. You may be thinking about saving for your first house. Retirement. College. Consolidating debt. Paying an unexpected medical bill or an emergency car repair.
We understand saving and planning ahead can seem overwhelming at times, so take advantage of all the resources and personalized support offered through Sandia’s benefit partners.
Saving and Retirement
With Sandia’s 401(k) plan, your savings get a boost from Sandia’s matching contributions. Also, if you’re not eligible for the Sandia pension plan, you’ll get an enhanced Sandia contribution to your 401(k).
Take action with Fidelity resources
Find out if you’re retirement-ready
Set some savings goals
Increase your 401(k) contributions
Meet with a Fidelity financial advisor
Fidelity website
Call Fidelity: 800-240-4015
An emergency savings fund can mean less stress down the road. Whether you’re setting aside $500 for a couple of new tires or a tow, or building up three months of living expenses, consider how the Sandia Laboratory Federal Credit Union accounts can help you get there. It’s simple. Set auto deposits from your paycheck, then tap into your savings if you need it.
Take action with Sunward resources
Find the right account for your needs and goals
Teach your kids about saving
Sunward website
Call Sunward: 505-293-0500
Fidelity estimates a 65-year-old individual may need $165,000 in after-tax savings to cover healthcare expenses in retirement. That’s one reason Sandia’s medical plan – the Health Savings Plan with its Health Savings Account (HSA) – may be worth a look during this fall’s Open Enrollment. Set aside and invest for future healthcare expenses through the HSA! And Sandia boosts your savings with a 66 2/3% match on your HSA contributions.
Take action with Optum Bank resources
Learn about an HSA
Using an HSA to pay for current health expenses
Saving through an HSA for future health expenses
Optum Financial website
Call Optum Bank: 866-234-8913
Financial Planning and Managing Debt
Use Edelman Financial Engines do-it-yourself resources or talk with an advisor to personalize your plan for paying debt and planning for short- and long-term needs. Also, take advantage of online tools and phone services at no cost.
Get in touch with Edelman Financial Engines
Edelman Financial Engines website
Call Edelman Financial Engines: 866-234-8913
In about five minutes you can take Prudential’s financial wellness quiz and get a feel for what you’re doing right, steps you can take in key areas (like reducing debt), and the Sandia benefits (like disability insurance and voluntary life insurance) that might make sense for you.
Set up a 529 college savings account and save for any level of higher education at colleges throughout the U.S. Use your savings to pay for tuition, room and board, books, fees, technology, and more. Enrolling is easy – contribute to the account automatically from your paycheck.
Take action with The Education Plan resources
Learn about saving for college through a 529 account
Set up a 529 account
Give a gift contribution
The Education Plan website
Call The Education Plan: 877-337-5268
A recent Fidelity survey reports 56% of people with student loan debt feel worried or overwhelmed. And with an average student loan debt load of close to $30,000, it’s not hard to see why. You can find ideas for repaying student loans, including consolidating and refinancing debt, with Sandia Laboratory Federal Credit Union.
Also, with student loan relief offered through the CARES Act expiring on September 1, 2022, be sure to stay informed with the latest news and policy updates. Go to studentaid.gov for details.
Take action with Sunward resources
Learn about options for student loan consolidation
Sunward website
Call Sunward: 505-293-0500
Housing Resources
Sandia offers programs that can help you find housing in both Albuquerque and the Bay Area (interns, we’re talking to you too!) and to save for, purchase, sell, and get a down payment together for a home. Get all the details through hr.sandia.gov (Life > Housing Resources). Also, take a look at some of the important resources offered through our provider partners.
Take advantage of a 0.50% reduction in discount points
Bank of America website
Call Bank of America: 800-641-0453
Financial Wellness Events
View videos and presentation slides from Sandia’s Financial Wellness events.
Financial wellness resources support you and your family – at every stage and age.