Understanding the Intermountain Health 401(k) Plan: Key Decisions at Retirement

If you’ve worked at Intermountain Health, your 401(k) is likely one of your largest retirement assets. But as you transition out of the workforce, the key question becomes: What should I do with it now?

Making smart decisions about your Intermountain 401(k) can mean the difference between confidence and confusion in retirement. At Peterson Wealth Advisors, we specialize in helping retiring healthcare professionals make the most of their benefits, including how to structure their 401(k) withdrawals for long-term peace of mind.

Here’s what you need to know as you approach retirement.

Know What’s in Your Plan

Intermountain’s 401(k) Plan includes several important features:

• Pre-tax (Traditional) contributions
• Roth (after-tax) contributions
• Employer matching contributions
• Age-based catch-up contributions (starting at age 50)

You may also have investments spread across different types of funds, such as target date funds, index funds, or customized portfolios.

The key is understanding how these pieces work together and what they’ll mean for your income after you retire.

Roll It Over or Leave It in the Plan?

One of the biggest questions at retirement is whether to leave your 401(k) in the Intermountain plan or roll it over to an Individual Retirement Account (IRA).

Pros of Rolling Over:

• More investment choices
• Easier coordination with your spouse’s accounts
• Consolidation simplifies Required Minimum Distributions (RMDs)
• Easier to create a monthly income stream
• Tax-efficient donations to charity with Qualified Charitable Distributions (QCDs)

Pros of Leaving It in the Plan:

• Continued access to low-cost institutional funds
• May have lower administrative fees
• Protection under ERISA rules (if applicable)

At Peterson Wealth, we help clients evaluate both options. Often, rolling over to an IRA gives retirees more control over income, tax strategies, and legacy planning—all while keeping costs low and structure high.

Plan for Income, Not Just Investments

A common mistake is focusing on account balances, not income flow. In retirement, your 401(k) is no longer just a savings account. Now it’s a paycheck replacement engine.

Our Perennial Income Model™ helps retirees:

• Allocate retirement funds into time-specific income buckets
• Protect the first 10 years of withdrawals from market volatility
• Grow later segments more aggressively to combat inflation

It’s a plan that makes your 401(k) feel like a pension . . . structured, stable, and sustainable. But with the flexibility to make changes as life changes, unlike a pension.

Don’t Forget the Tax Implications

Intermountain retirees often have both Traditional and Roth money in their 401(k). That’s great, but it also means careful planning is required.

• Traditional 401(k) withdrawals are fully taxable
• Roth 401(k) withdrawals are tax-free (if qualified)

We work with you to:

• Optimize the order of withdrawals
• Convert portions to Roth IRAs in low-tax years
• Avoid surprises from RMDs after age 73
• Donate to charity tax efficiently

It’s not just what you take out . . . it’s when and how you take it.

Plan for Your Spouse, Too

If you’re married, your 401(k) is part of a joint plan. We help Intermountain couples:

• Coordinate 401(k) strategies with spousal IRAs or pensions
• Set up beneficiary designations properly
• Build legacy strategies that support both partners, even if one passes away

You’re Not Alone

We’ve helped many Intermountain employees transition into retirement, and every plan is a little different. But one thing stays the same: peace of mind comes from having a structured, customized approach.

Ready to get more from your Intermountain 401(k)? Let’s build a personalized income plan around it.

Visit petersonwealth.com or call (801) 225-0000 to schedule your consultation.

Peterson Wealth Advisors is a registered investment adviser. Information presented is for educational purposes only. Please consult a qualified financial advisor before implementing any strategy.