How Can I Best Utilize My Intel Employee Benefits Package?
You’ve got questions about your Intel benefits. We’ve got the answers and are here to help. Feel free to give us a call or click the button below to schedule a time to chat with an advisor.
You've got questions about your Intel benefits. We have the answers and are here to help. Feel free to give us a call or click below to get in touch with one of our advisors.
Intel 401(k) Plan
Free money! That gets most people’s attention. In 2020, you can contribute up $19,500 on a pre-tax or Roth basis into your 401(k), and if you’re age 50 or older, you can contribute an additional $6,500. Intel is providing a double match up to 5% of salary in 2020. Starting in 2021, Intel will simply match up to 5% of your salary. So, if you make $200,000, Intel will contribute $10,000 (pre-tax) to your 401(k), assuming you contribute at least $10,000, too. We encourage you to make the most of Intel’s offer before utilizing any other benefits available to you.
After-Tax Contributions and Mega Backdoor Roth Conversion
Would you like to contribute more than $19,500 to your 401(k) and convert those dollars to Roth? You can with the mega backdoor Roth conversion, also known as the after-tax Roth conversion. This benefit is relatively new in the 401(k) world and became available to Intel employees in 2020. This feature allows you to make additional after-tax contributions to your 401(k) and convert these contributions to Roth dollars.
Diversify your portfolio. BrokerageLink is one of 24 options within your Intel 401(k) plan. This option gives you access to thousands of additional mutual funds not available with the standard plan, including funds managed by Vanguard, PIMCO, and Eaton Vance. Why does this matter? For starters, it allows you to invest in asset classes that would otherwise be unavailable to you in your standard 401(k). This can allow you to increase the diversification of your investments within your 401(k), which may potentially create opportunities to achieve greater long-term returns.
Align your investments with your values. Sustainable Investing, also known as Socially Responsible Investing (SRI), means incorporating Environmental, Social, and Governance (ESG) criteria into the investment selection process. Essentially, it allows you to invest in a way that aligns with your values without necessarily compromising diversification or returns. You can access hundreds of SRI mutual funds and ETFs through BrokerageLink. These options allow you to create a sustainable portfolio within your 401(k).
Serplus: Intel’s Deferred Compensation Plan
Reduce your tax bill by thousands! SERPLUS, Intel’s deferred compensation plan, is available to grade Level 10 employees and above. SERPLUS allows you to save a significant amount of money on taxes by reducing the amount of your taxable income. It works similarly to a pre-tax 401(k) plan, and any dollars you contribute can then be invested for growth and used down the road during your retirement. If you are eligible for this benefit, you can defer up to 60% of your salary and 75% of any bonus or commissions.
Intel Restricted Stock Units
Leverage your RSUs. For many employees, stock awards can be a significant portion of total compensation. These awards come in the form of Restricted Stock Units (RSUs). These RSUs become available to you as they vest over time. As the stock shares vest, you are taxed at ordinary income tax rates based on the total value of the vesting shares of stock. Do you typically keep your shares once they vest?
Employee Stock Purchase Plan
Purchase stock at a discounted price. Another fantastic benefit at Intel is the Employee Stock Purchase Plan (ESPP). Twice a year Intel allows you buy up to 10% of your earnings (base compensation, quarterly profit bonus, annual profit bonus, and commissions) in Intel stock at a 15% discount through a payroll. The enrollment period for this benefit only happens in January and July.
While we work closely to communicate with Intel’s HR division regarding employee benefits, there is no guarantee that the information we have provided is accurate. We do not offer tax advice. Please consult with your tax professional to determine what is right for your particular tax situation.
Latest Articles about Your Intel Benefits
At Avier Wealth Advisors, client education is the bedrock of our service model. Our advisors regularly publish articles on how you can best leverage the benefits available to you as an Intel employee. Take a moment and check out their latest tips below.
Intel Employees Save More for Retirement Using Intel’s Mega Backdoor Roth Conversion
Are You Making the Most of Your Intel SERPLUS Benefit?
Intel Benefits Video Library
We invite you to peruse our video library to learn more about the key benefits available to you as an Intel employee. Our advisors break down complex financial topics into the basics of what you need to know to get the most out of your plan.