Arkema is here to help you achieve a sound financial future, regardless of your stage in life. Learn more about the Financial Tools and Resources available to you.
New to the Workforce
Arkema can help you prepare for future success with employee and employer contributions to your 401(k) plan. You can also become an owner in Arkema by purchasing company stock at a discounted price through periodic subscription offerings, which can help you build your stock portfolio as you grow with the company.
Creating a Home
If you are buying a home, get tips and check your financial well-being through Fidelity. You can also register for debt management and credit counseling and create a savings account to track your progress towards financial goals, like saving for a down payment.
Growing Your Family
If you are growing your family by having a baby, adopting a child or receiving a permanent foster placement, Arkema has programs to support you through every step of the process. Receive four weeks of paid parental leave to bond with your child. Find answers to your new baby questions and get parenting support from trained experts through the Aetna Maternity Program.
Sending Your Child to College
If you have children preparing for college, there’s a Fidelity point solution – Credible – to get your child ready. Credible can help you save for university expenses and find affordable student loan options. Additionally, you can access discounted tutoring and standardized test preparation resources!
Preparing for Retirement
If you are getting ready for retirement, visit Fidelity's Retirement Planning page to learn about important items to consider. Also review our Retiree Medical Plan to understand your coverage options.
Retirement
Arkema knows the value of providing comprehensive retirement benefits that reward your ongoing service. There are two main components of the retirement program:
Retiree Medical Plan
Financial Tools and Resources
To assist you in your financial goals, planning for retirement and more, Arkema offers a range of tools and resources. Visit the Financial Tools and Resources to learn more!
Arkema provides competitive 401(k) plan opportunities to help you save for retirement. Save today. Your future self will thank you!
Your investments in the 401(k) plan are participant-directed. There is a range of investment options for you to choose from to help you reach your financial goals. It is important to periodically review and update your investment elections to align with your goals. For Safe Harbor Notices and Summary Annual Reports, see the Documents page.
Visit www.netbenefits.com or call Fidelity at 1-800-835-5092 to enroll in the 401(k) plan or to manage your account.
Note to New Hires: If you participated in your previous employer’s qualified 401(k) or 403(b) plan for the current year, your contributions for both the Arkema plan and the other employer’s plan are limited to the IRS limits for that year. Please plan your contributions to Arkema’s plan accordingly.
401(k) Plan for Non-Union Employees
As an Arkema non-union employee, you have access to the Arkema Inc. Employees’ Retirement Savings (401(k)) Plan from your date of hire.
Arkema provides a company match of 4% when you contribute 5% of your eligible earnings. Arkema will match:
- 100% of the first 3% of eligible pay that you contribute.
- 50% of the next 2% of eligible pay that you contribute.
In addition to the company matching contributions, Arkema contributes an additional 5% of your eligible earnings. You are not required to make contributions to receive this non-matching company contribution. This non-matching contribution is made in two installments (in June and December).
Note: Bostik employees hired prior to 2022 and Arkema employees hired prior to January 1, 2007, have different non-matching contribution provisions. Please refer to the 401(k) SPD for those provisions.
401(k) Plan for Collectively Bargained (Union) Employees
As a collectively bargained Arkema employee, you have access to the Arkema Inc. Retirement Savings (401(k)) Plan for Collectively Bargained Employees.
Arkema matches a percentage of your savings. Refer to your collective bargaining agreement for information on company matching and non-matching contributions. All Arkema company contributions are pre-tax contributions made to your traditional 401(k).
Pre-tax and after-tax Roth contribution elections
Arkema’s plans offer both pre-tax and after-tax Roth contribution elections.
Traditional 401(k) vs. Roth 401(k)
You choose how to save for your retirement: contribute with a traditional pre-tax 401(k) option, a Roth 401(k) option, or a combination of the two.
The money you save in your traditional pre-tax 401(k) account goes in before federal income taxes are withheld. In addition, you do not pay federal, and in most cases, state income taxes on Company contributions and investment earnings while they are in your account. This means dollars that otherwise would have been paid in taxes are invested for you instead.
The money you save in your Roth 401(k) account goes in your account after federal income taxes are withheld. Investment earnings are tax-free if withdrawn at least five years after the tax year of your first Roth contribution in the plan. Taxes are paid on the matching contributions at the time they are withdrawn.
You may contribute up to 75% of eligible earnings in any pay period.
You may contribute up to the annual IRS limit.
If you are age 50 or older in the calendar year, you may elect a catch up contribution that allows for your additional deferral above the regular annual IRS limit up to the annual IRS catch up limit.
Vesting
When you are vested in your 401(k) contributions, you fully own them. You are immediately 100% vested in your contributions and the company matching contributions and any investment earnings on those contributions.
You become vested in the company non-matching contributions and any investment earnings on those contributions at a rate of 20% per year. You are fully vested in current and future company non-matching contributions and any investment earnings on those contributions after five years of service as an active employee (based on your hire date) or when you reach age 65 in service, become disabled (on Long-Term Disability), or pass away while an active employee.
Maximizing Matching Contributions through True Up
Arkema is committed to making sure you do not miss out on the maximum Company matching contribution based on your annual contributions. If applicable, the Company makes a “true-up contribution” after the end of each year. If you have fluctuations in the percentage you contribute during the year, or if you contribute up to the IRS contribution limit before the end of the year, you may receive a true-up contribution from Arkema in the first quarter of the following year to ensure you receive the maximum Company match for your annual contributions.
Automatic Enrollment:
Newly eligible participants who have not made a deferral election within 30 days of employment will be auto enrolled at an employee pre-tax deferral rate of 5% in the non-union plan, or the auto enrollment rate for your union in the union plan. You may change your deferral percentage at any time.
Automatic employee contribution increases:
If you are contributing less than 10% to the plan for non-union employees or less than the percentage as outlined in your Collective Bargaining Agreement for union employees, your contribution will automatically increase by 1% each April until your contribution reaches 10% for non-union employees or the maximum for union employees. You may change your deferral percentage at any time.
If you retire from active service at age 55 or older with at least 10 years of service, you are eligible to participate in the retiree medical plan until you reach age 65. Your spouse is also eligible to participate in the retiree medical plan until they reach age 65 or you do, whichever occurs first.
Retirees are eligible for the medical insurance plans that offer the same benefits as those offered to active employees. The cost of coverage is based on your years of service with the Company. Consult the Retiree Medical Plan rate sheet for the full cost of coverage.
For more information, contact the Arkema Benefits Center at 1-800-406-9823.
Dependents may be eligible for COBRA continuation coverage if you lose coverage for one of the following reasons:
- Retired employee becomes entitled to Medicare
- Retired employee dies (in most cases, continued retiree medical coverage is not available to the dependent)
- Retired employee and spouse divorce
- Child(ren) no longer qualifies as a dependent
Please note Legacy Bostik retirees may have different provisions. Please contact the Arkema Benefits Center to confirm eligibility. Legacy Bostik retiree medical participants may be able to continue coverage for an under 65 spouse, if the retiree turns 65 and is no longer eligible for coverage.
Review the COBRA rate sheet to view the cost of coverage and consult the COBRA Continuation section of the Retiree Medical SPD for further details.
If you are turning age 65 or your spouse is turning age 65, but you still intend to keep working, there are a few things you should know about signing up for Medicare coverage. We recommend consulting www.medicare.gov about whether you will be enrolled for Medicare coverage automatically or not as of the first of the month in which you turn age 65. If you continue to work and be covered under the Arkema Medical and Prescription drug plans after age 65, you will NOT be penalized for late enrollment in Part A or B of Medicare if you wait to enroll at a later date.
If you enroll in Medicare A and maybe B and also enroll in the active benefits through Arkema through Aetna, Arkema plans will be primary and pay first. Any Medicare benefits you have will pay secondary if you enrolled for them.
Retiring is a big step, and we hope you’ve had a satisfying, rewarding career with Arkema. Review the following items to ensure you prepare for a successful retirement.
Medicare
Take the time to understand how Medicare works. Medicare.gov has very helpful information.
Important Questions to Consider
Carefully consider your answers to the following questions as you begin to plan your retirement.
- Do you have dependents who rely on your Arkema benefits, such as a disabled adult child eligible for coverage, or a child under the age of 26 that’s covered under your Arkema medical plan? Be sure to coordinate with them to ensure appropriate coverage after you retire.
- In this new stage of your life, do you need to make changes to things like life insurance or your investment strategy? For example, your investment “time horizon” may be shorter now, which might affect your risk tolerance. And if you had life insurance to provide for your family who depended on your income from work, is the same amount of insurance needed now?
- If you’re married, is your spouse already retired, retiring at the same time, or will they retire sometime in the future? Any approach can work, so long as you talk and coordinate plans.
- Will you be moving when you retire, or staying where you are? If you’re planning to make a change, be sure you’ve thought through all the details, including whether state taxes in your new location will be different and whether you’ll be moving somewhere new enough that you’ll want to make new friends, find new activities, find new healthcare providers, and join new organizations. Will you have family nearby, or will it be easy for them to visit if they’re not nearby?
- Do you have a long-term plan for when you get older, in case you need help or your health declines? Be sure to consider how you’ll take care of household chores and maintenance and get your shopping done. Will you need someone to help you pay your bills? Consider ensuring that a family member has a power of attorney.
- Do you have an up-to-date will? Consider a living will that provides instructions in case of an injury or illness where you cannot make decisions about your care for yourself.
- Designate a beneficiary for accounts such as your 401k account, your HSA account or other bank accounts, which can greatly simplify settling your estate.
- For more things to consider and help in making a plan, please review the U.S. Government’s Retirement Toolkit.
Financial Advising
If you’re making financial decisions after you retire, ensure you get sound, independent financial advice so you can make a fully informed decision. Perhaps discuss options with family and consider engaging a financial advisor who has a fiduciary responsibility to make recommendations in your best interest.
401(k) Options
You are not required to take distributions from your 401(k) plan immediately upon your retirement. You may allow the balance of your 401(k) account to continue to grow until you reach the required minimum distribution age, provided your balance is at least above the de minimis threshold. When you reach the required minimum distribution age, Fidelity will contact you with more information.
Pension Plans
If you or your spouse have pension benefits from any employer, be sure you understand your commencement options for starting the payment of benefits. For more information, call the Arkema Benefits Center at 1-800-406-9823.
Survivor Benefits
Make sure you understand how survivor benefits work — the benefits that can be paid to a surviving spouse after you die.
While you are still an Active Employee and if you are enrolled in active medical, dental and/or vision coverage through Arkema and you pass away, your covered spouse and dependents will receive three months of coverage at no cost, beginning the first of the month following the date of your death. After the three month period, they may choose to continue coverage through COBRA or, if you were eligible for retiree medical coverage when you passed, enroll in retiree coverage temporarily. The length of retiree medical will be determined by the age of your survivors at the time of your passing. The cost of retiree medical will be determined by your age and service at the time you pass away. Questions about individual retiree medical and COBRA coverage situations should be directed to the Health and Welfare benefits team.