Your
financial future
Retirement savings
Build the future you want
Whether retirement feels years away or right around the corner, the choices you make today can have a meaningful impact on your future.
That’s why Allstate gives you two ways to build retirement income: a 401(k) Savings Plan that you contribute to (with matching contributions from Allstate) and a Pension Plan funded entirely by Allstate. Together, they can help you build a stronger foundation for retirement than either plan could on its own.
Good life tip
Did you know that Allstate is one of few companies to still offer a pension benefit? While you focus on your career and contribute to your 401(k), your pension is steadily growing behind the scenes. It’s one more way Allstate invests in your future.
The 401(k): The part you control
You decide:
- How much to contribute
- Whether to contribute pre-tax, Roth or both
- How your money is invested
Allstate helps your savings grow with matching contributions.
The Pension: The part Allstate builds for you
Once eligible, Allstate funds your pension automatically.
You don’t contribute anything. Instead, Allstate adds pay credits and interest credits to help your benefit grow over time.
The 401(k): The part you control
You decide:
- How much to contribute
- Whether to contribute pre-tax, Roth or both
- How your money is invested
Allstate helps your savings grow with matching contributions.
The Pension: The part Allstate builds for you
Once eligible, Allstate funds your pension automatically.
You don’t contribute anything. Instead, Allstate adds pay credits and interest credits to help your benefit grow over time.
Together:
- Your 401(k) helps you actively save.
- Your pension provides an additional source of retirement income funded entirely by Allstate.
Together they can help create a stronger retirement savings strategy.
A closer look at the 401(k) Savings Plan
The Allstate 401(k) Savings Plan helps you build retirement savings one paycheck at a time. You decide how much to contribute, how you’d like to save and how your money is invested. Along the way, Allstate helps your savings grow through matching contributions.
The basics
- How it works: The account grows through your contributions, matching contributions from Allstate and investment earnings. You can choose how much to contribute, and you can change your elections any time.
- Eligibility: You’re eligible upon your hire date. If you don’t enroll when you’re first hired, you’ll be automatically enrolled at 45 days.
- Vesting: You’re fully vested (meaning the benefit belongs to you) in the Allstate match after two years of eligible service. You’re always 100% vested in your contributions.
Your contributions
- Choose pre-tax, Roth and/or after-tax contributions.
- You can update your contribution elections at any time.
Allstate’s matching contributions
- Allstate matches 100% of the first 2% of eligible pay you contribute, plus 50% of the next 4%, up to a maximum 4% match per paycheck.
- Contribute at least 6% of eligible pay to receive the full match.
Investment earnings
- You choose how to invest your account from a variety of investment options, including Target Retirement Date Funds designed around the year you expect to retire.
- Over time, investment earnings can help your savings grow even more.
See how it adds up
Here’s a simple example of how the Allstate match can help your retirement savings grow.
Don’t leave money on the table. Contribute at least 6% of eligible pay to receive the full Allstate match. It’s one of the easiest ways to give your retirement savings a boost.
See how it adds up
Here’s a simple example of how the Allstate match can help your retirement savings grow.
Don’t leave money on the table. Contribute at least 6% of eligible pay to receive the full Allstate match. It’s one of the easiest ways to give your retirement savings a boost.
A closer look at the Pension Plan
Think of the Pension Plan as a retirement benefit that works quietly in the background while you focus on your career. Once you’re eligible, Allstate adds to your benefit automatically, helping you build another source of retirement income over time.
The basics
- How it works: You don’t contribute anything. Once you’re eligible, Allstate adds pay credits to your Pension Plan based on your years of service and eligible pay. Your benefit also earns interest credits over time, helping it continue to grow.
- Eligibility: You automatically become a participant once you complete one year of service and are at least age 21. When you become a participant, you receive a pay credit for your first year of eligible service, so your Pension Plan benefit begins accumulating from your hire date.
- Vesting: You’re fully vested (meaning the benefit belongs to you) after three years of eligible service or when you reach age 65, whichever comes first.
See how it adds up
In this example, if you have four years of service and your eligible pay for the quarter is $12,500, Allstate adds $375 to your Cash Balance Account for that quarter.
Note: This example is for illustration only. Your actual pension benefit may depend on your eligibility, years of service, eligible pay, interest credits and plan rules.
Allstate adds pay credits
Allstate adds pay credits to your Pension Plan each quarter. Pay credits are based on your years of service and eligible pay earned during that period.
Account balance grows with interest
Your Pension Plan account also earns interest credits based on the applicable 30-year U.S. Treasury bond rate.
See how it adds up
In this example, if you have four years of service and your eligible pay for the quarter is $12,500, Allstate adds $375 to your Cash Balance Account for that quarter.
Note: This example is for illustration only. Your actual pension benefit may depend on your eligibility, years of service, eligible pay, interest credits, plan rules and the type of pension benefit you have.
