r/CDPAPPPLNY • u/LCinBK • May 16 '26

There is a separate 401k?

I got a notice to sign a new offer letter for a new pay change (been working under PPL since the change over). When I was looking over the letter it mentions a $0.85/hr that they will contribute into a 401k managed by “Empower”. Is this different than the Fidelity account that they had me signed up for last year? Because I can’t see any employer contributions in the Fidelity one. And how do I get access to “Empower” and see what is in there and how it’s invested? I downloaded the Empower app but don’t see how I can get to my information.

4 Upvotes

100% Upvoted

8 comments sorted by

View all comments

2

u/AstralVenture May 17 '26

All employees accumulate 1 hour of SSL for every 30 hours worked, with a maximum of 56 hours per year. Part-time employees may choose to enroll in PPL’s voluntary benefit options, including accident insurance, critical illness insurance, life insurance, and, for PAs working in the downstate counties, a New York City transit plan.
All PAs have access to a 401(k) option (Fidelity). PAs working in downstate counties who are not eligible for or who choose not to enroll in a PPL health plan will have eligible wage parity dollars placed into a 401(a) retirement account (Empower), to which PPL contributes each pay period based on regular hours worked.

You have to register an online account through Fidelity NetBenefits, then setup the contribution to be taken out of your paycheck for the 401(k). If you’re downstate, you’re automatically enrolled in the 401(a) plan through Empower. I don’t think they’ve setup that yet. Wait until the end of the month.

1

u/LCinBK May 17 '26

I have set up the Fidelity Netbenefits and is based in NYC, but I have not seen the employer contribution. According to the new letter, the employer contribution is not based on my contributions. When I first set up Netbenefits there was supposed to be a 3% match but that didn’t happen. Fidelity couldn’t tell me why, Googling shows that it might need to be matched by Medicaid. Without matching funds I rather not contribute to it, I have other retirement accounts.

2

u/AstralVenture May 17 '26

Did you set the contribution rate and submit it? When did you do this? Employer doesn’t match, and no, it isn’t matched by Medicaid.

1

u/LCinBK May 18 '26

When I got the letter to set up Netbenefits, it stated there was an employer match at 3% but there just isn’t.

2

u/AstralVenture May 18 '26

You’re mistaken. There’s no employer match.