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Make saving for retirement easier
You’re eligible to contribute up to $23,500 to your Sandia 401(k) in 2025. If you’re age 50 or older, you can make annual “catch-up” contributions to your 401(k) up to $7,500 above the annual IRS contribution limit. Note: Beginning in 2026, if your annual base salary is greater than $145,000, your catch-up contributions will be made on an after-tax basis to a designated Roth account.
If you need help investing your 401(k), consider investing in a target date fund or working with Edelman Financial Engines.
More smart money moves
Use your HSA to help you save
If there’s one thing you can be sure of, it’s that you’ll have medical expenses during retirement. According to experts, you’ll need about $165,000 to cover Medicare premiums, deductibles, copays, coinsurance, and other out-of-pocket costs. If you’re enrolled in the Health Savings Plan and contributing to a Health Savings Account, make the most of this savings vehicle. It’s designed to help you save and pay for retiree medical expenses.
Double-check what you’re contributing to your HSA by visiting Optum Bank and adjust your contribution rate if that makes sense for you. If you have more than one HSA, consider consolidating accounts from previous employers into your Sandia HSA.
How it works
When you enroll in the Health Savings Plan (HSP), you can open an HSA with Optum Bank and set aside pretax contributions to use for current and future healthcare expenses. You can also invest the money in your HSA, tax-free.
Sandia matches your contributions
In 2025 you can contribute up to $4,300 to your HSA if you have individual medical coverage or up to $8,550 if you cover others too. Sandia boosts your savings with the 66.667% match and contributes even more when you complete healthy activities through Wellworks.
Your HSA in retirement
Your HSA balance grows tax-free until you use it. You can use the money in your HSA to help cover healthcare costs during retirement, including Medicare premiums, deductibles, copays and coinsurance. You’ll pay no taxes on withdrawals to cover qualified medical expenses.
Turn to experts for support with your will or estate plan
It’s important to have a will and/or an estate plan to make sure that your assets go to the people you want to have them when you die. Here are some resources to help you understand what you need to do.
- Fundamentals of wills, trusts and powers of attorney
- Preserving your savings for future generations
- Five steps to create an estate plan
- If you’re enrolled in the voluntary legal insurance plan through Sandia Extras, you have access to no-cost estate planning services through ARAG. Visit the ARAG website (enter access code: 18375san) or call 800-247-4184.
- Connect with a Wellthy care coordinator to learn about legal and financial resources they offer.
- Explore resources available through your Employee Assistance Program (EAP) benefits. For information about who provides your EAP benefits, visit hr.sandia.gov.
Keep in mind that when you enroll in Sandia’s prepaid legal plan as a new employee or during annual benefits open enrollment, you have access to legal expertise, including estate planning, without hefty legal fees. For details, visit mysandiaextras.com or call Corestream at 855-514-8800.
Don’t let financial stress get the better of you
Managing your finances—or someone else’s—can be overwhelming. Take advantage of these Sandia resources to help you.
Edelman Financial Engines
Getting on the right financial path may be easier with support from an investment advisor. In addition to accessing tools and resources through Fidelity, you can use Edelman Financial Engines.
There are two ways to work with Edelman:
- Take advantage of do-it-yourself resources (at no cost to you)
- Work with an advisor to personalize your plan for paying debt and planning for short- and long-term needs (fee-based service)
For more information, visit the Edelman Financial Engines website or call 800-601-5957.
Wellthy
Contact Wellthy for support tackling logistical and administrative tasks for yourself and those you care for. You’ll be matched with a care coordinator who can help you:
- Find financial assistance programs and legal resources
- Appeal and sort through medical bills
- Deal with Social Security, benefits, insurance and tax deductions
- Source professional services, including therapists, in-home support, and eldercare and childcare support
View the full range of Wellthy services available at no cost to you. Get started at wellthy.com/sandia.
Employee Assistance Program (EAP)
Sandia provides an employee assistance program (EAP) that employees and interns can access through Employee Health & Wellbeing Services on-site medical clinics in New Mexico and California.
The clinics are staffed by licensed behavioral health clinicians, so support for emotional well-being is only a call or a few steps away.
Comparable external EAP services (see below) are available for employees and their eligible dependents covered under Sandia medical plans.
Connect to Support
Sandia EAP On-Site Services (Employees Only)
- NM: 505-284-1562
- CA: 925-294-2200
ComPsych GuidanceResources EAP (For Employees and Dependents with BCBSNM Medical Coverage)
- EAP: 844-244-7657
- Behavioral health: 888-898-0070
Optum EAP (For Employees and Dependents with UnitedHealthcare Medical Coverage)
- EAP: 800-622-7276
- Behavioral health: 877-835-9855