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    BlueRetirement 401(k)

    BlueRetirement Tutorial

    View this tutorial on how BlueRetirement can help you reach your savings destination.

    The basics.

    Welcome to BlueRetirement—your comprehensive JetBlue retirement Plan with a 401(k) account. BlueRetirement is available to all Crewmembers. Wherever you want to go in life, BlueRetirement can help you get there. Whether you’re just kicking off your savings or headed toward retirement, think of BlueRetirement as dedicated support to help you save for your future and make the most of your finances.

    How it works.

    How it works.

    BlueRetirement benefits are administered by Empower. You get a tax-advantaged 401(k) account that allows you to have a portion of your paycheck automatically deposited into your account each pay period. Contributions are then invested among options offered by the Plan. You may access the money in your 401(k) once you retire. Follow the steps below to make the most out of your BlueRetirement benefits. If you visit your BlueRetirement account and add your beneficiary(ies), you’ll receive $25 in Healthy Rewards! Crewmembers can only earn this reward one time during their tenure at JetBlue.

    Step 1: Designate your beneficiaries.

    Designate a beneficiary (or beneficiaries) for your account to ensure that in the event of your passing, your money will be paid out according to your wishes. You can designate primary and secondary beneficiaries. To review, update or name your beneficiary, follow these steps:

    • Log onto blueretirement.com and click on the JetBlue Airways 401(k) Plan.
    • Select Beneficiaries located on the left side of the page under Account Information.
    • Follow the prompts to add or update beneficiary information.
    • When finished, click Confirm & Continue.

    Note: If you are designating less than 100% to your spouse or if you designate a trust, you will not be able to update your beneficiary online. You must download and complete the Beneficiary Designation Form from blueretirement.com. Here’s how:

    • Go to Plan Information.
    • Select Plan Forms and download the Beneficiary Designation Form.
    • Complete the Form and return it to Empower.

    You don’t have to contribute toward BlueRetirement to have an account—JetBlue provides 5% in Retirement Plus contributions (in addition to the company match) to eligible Crewmembers below Manager level.

    You have the option to choose a Traditional or Roth 401(k)—or both. You pay taxes up front in a Roth 401(k), and you pay taxes on your withdrawals in retirement in a Traditional 401(k). If you’re unsure whether to choose Traditional, Roth or both, Empower can help you decide.

    Note: You have the option to make additional after-tax contributions as well. These are not matched by JetBlue.

    Details Traditional 401(k) Roth 401(k)
    Are paycheck contributions taxed? Contributions are taken from your paycheck before taxes. Contributions are taken from your paycheck after taxes.
    Does account money grow tax-free? Yes, the money grows tax-free. Yes, the money grows tax-free.
    At retirement, are withdrawals taxed? Withdrawals from your account will be taxed as ordinary income. Qualified withdrawals from your account will be tax-free.

    The more you set aside today, the more prepared for retirement you may be. To contribute money toward your 401(k) Plan, you choose a flat amount or percentage—between 1% and 100%—that you want deducted from each paycheck through a Traditional and/or Roth 401(k), up to the IRS 2021 annual contribution limit, which is $19,500. In addition, the IRS has an annual 415(c) limit of $58,000 in 2021 which is inclusive of both your and JetBlue’s contributions to your account. You are always 100% vested, meaning you own the money, in your own contributions to your account.

    If you’re age 50 or older: The IRS increases the annual contribution limit for people age 50 or older to allow you to contribute more money to your account—these are called “catch-up contributions.” The 2021 IRS annual limit for people age 50 and older is $26,000, meaning you can contribute an additional $6,500!

     

    In addition to your contributions to your account, JetBlue also invests in your future by contributing money to your 401(k).

    Contribution feature Non-Pilot Crewmember Company matching contribution Pilot Company contribution Retirement Plus
    Who’s eligible to receive? All Non-Pilot Crewmembers. All Pilots. Non-Pilot Crewmembers below Manager level.
    How it works JetBlue matches your contribution up to 5% dollar for dollar—if you contribute 5% to your account, JetBlue will contribute the same amount into your account each payroll period. JetBlue contributes a 16% non-elective contribution to your account. JetBlue makes a Retirement Plus contribution of 5% of your eligible pay to your account each pay period.
    How it’s vested You are 100% vested after three years of service.

    Your plan gives you a variety of investment choices, ranging from moderate to risky, including target date funds, a core group of mutual funds and self-directed brokerage accounts so you can tailor your approach to fit your needs. As with all investments, the principal value is not guaranteed at any time. Not an investing expert? Don’t worry! Empower has a team of financial advisors ready and able to help you—just give them a call if you have questions.

    Target Date Funds Core Funds Self-Directed Brokerage Account

    • Invest your retirement savings into a single fund based on the year you plan to retire— your “target date” and risk tolerance.
    • Pre-diversified with a mix of investments.
    • The date in a fund’s name is the approximate date when you would plan to start withdrawing your money (generally assumed to be at age 65). The fund gradually becomes more conservative as it gets closer to your target retirement date.

    • Building blocks for investors who want a custom portfolio.
    • Single fund choices in multiple asset classes.
    • Risk and return potential ranges from low to high.

    • Offered through Charles Schwab Personal Choice Retirement Account (PCRA).
    • Geared toward knowledgeable investors who want the flexibility to design a custom portfolio.
    • Designed for Crewmembers who understand the risk and accept the responsibility of managing a self-directed brokerage account and feel comfortable making decisions and choosing investments that align with their goals and risk tolerance.
    • Requires a commission fee of $3.95 per trade (additional fees may apply) and a $100 minimum balance in the Core account.

    Get started with BlueRetirement.

    How to get started.

    Create an account through Empower to enroll in the BlueRetirement 401(k) and access support and resources. Go to BlueRetirement.com, then:

    1. Click Register.
    2. Select the I do not have a PIN tab.
    3. Enter your Social Security number, ZIP/postal code, last name, date of birth and numeric portion of your permanent street address (without dashes or special characters as this will prevent registration) or P.O. Box. Note: Your address must match the address you have inputted as your permanent address on BCSS. Click Continue. Any combination of the number groupings, in order, in your street address will work. For example, if you live at 1234-56 78th Street, you can enter any of the following: 1234; 56; 78; 123456; or 12345678.
    4. You will be asked to provide an email address or telephone number for future verification. You will also need to create a username and password. Click Register.
    5. On your future logins, choose Sign In.

    If you have any issues registering your account, please contact Empower at 1-844-728-3258 (8AM–10PM ET, Mon–Fri; 9AM–5:30PM ET, Sat).

    Achieving Altitude

    Note: The 16% JetBlue non-elective contribution is NEW as of January 1, 2021.

    Check your Total Rewards Statement.

    Make it a habit to review your Total Rewards Statement often to see customized, in-depth information about the rewards you get from JetBlue: your pay, health and retirement benefits, work-life perks, travel, etc. You can also learn how to optimize your Healthy Rewards and 401(k) contribution to ensure you’re maximizing the value of these benefits. There is a Single Sign On (SSO) link to your 401(k) account on the Retirement page of your TRS.