Financial wellness

Empower Retirement Resources

ARTICLES & WORKSHEETS

Your investment objectives and tax preferences are personal. That’s why we designed the PennState Health 401(k) Plan to give you options. You can choose to invest your dollars in a variety of funds that fit your needs. Keep in mind there are contributions limits. 

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ONEONONE CONSULTATIONS WITH FINANCIAL EXPERTS

To contact an onsite representative, please call 717-531-1878 or email PSH_Retirement@pennstatehealth.psu.edu (in your message, please provide the best number or email address to reply).

Counselors can help you with investment selection, retirement planning, and emergency savings.

CUSTOMER SERVICE

Call Empower for any questions at
1-866-986-9477. The hours of operation extend between Monday – Friday from 8:00am–10:00pm.

Financial Wellness Checklist

  • Start with the basics: Create a budget, build an emergency fund, payoff debt.
  • Short-term financial goals: What can you afford to place in your 401k? What can you set aside for financial emergencies?
  • Long-term financial goals: What do you want to set aside for your retirement? Do you know how much retirement income you will need?

Start with the basics

The first fundamental step of financial wellness is organizing and understanding your everyday finances, then finding the pathway that works for you to create a sustainable budget.

 

  1. Create a budget – Start by tracking your finances for 30 days. This means every dollar spent and every purchase made. You may be spending more than you realize on eating out, coffee, subscriptions you may or may not use and gym memberships.
  2. Pay down debt – If you are paying minimum payments on credit card balances, you may be paying lots of money in interest.
  3. Build an emergency fund
  4. Understand your credit score

Shortterm financial goals

After you have a solid monthly budget and begin an emergency savings account, it is time to move to the next level of financial wellness. Setting short-term goals are for things that you want to accomplish in the next 2 to 5 years. Some examples include saving for a wedding, buying a house, and buying a car.

Longterm financial goals

These types of goals are usually related to anything that may happen 10-30 years from your decision point. They might include college savings, retirement savings, etc. A great deal of planning is the framework of these types of goals.

Study where your financial health is
at the moment then look for ways to work on changing the gaps that you see. By doing this, you’ll develop control over your budget, as well as future goals towards living a happier and healthier life.

Abenity Employee Discounts

Join the Penn State Health Member Perks Program!

Penn State Health provides members with exclusive perks and over $4,500 in savings on everything from pizza and the zoo, to movie tickets, oil changes, hotels, and car rentals!

And, with over a million redemption locations across 10,000 cities in the United States and Canada, you’ll never be far from savings!

Popular Features Include:

  • Nearby Offers: Use our show & save mobile coupons to quickly access savings on the go.
  • eTickets On Demand: Save up to 40% with no hidden fees.
  • Showtimes: Find movies, watch trailers, and save up to 40% at a theater near you.
  • Monthly Giveaways: Win cash, movie tickets, electronics and more with our monthly contests.

3 TIPS TO GET YOU STARTED

1. MOBILE APPS

For quick access to savings on the go and to receive proactive Perk Alerts of nearby offers, download our apps.

2. EMAILS

Subscribe to our newsletters and be the first to know about new discounts and giveaways.

3. CONNECT

Register for free giveaways, get the inside scoop, and share your savings stories on Facebook, Twitter, or Instagram using #LifeHasPerks

Additional Resources