Intermountain Health Archives

Intermountain Health 401(k) Benefits Explained

Posted on April 25, 2026April 23, 2026 by Daniel Ruske, CFP®

For caregivers at Intermountain Health, a 401(k) can be one of the most significant tools available for building toward retirement. When this account is treated as part of a larger financial strategy, it becomes easier to connect routine savings decisions to future income needs.

That shift in perspective can change how the account is used while you are still working. Small choices made consistently, from contribution levels to investment selections, can add up in ways that matter for years to come.

Understanding Your Intermountain Health 401(k)

For many employees at Intermountain, the 401(k) now stands at the center of long-term retirement plans, especially with the pension freeze scheduled to take effect on December 31st, 2026.1 After that date, affected workers will stop earning new pension accruals, so future growth will lean more heavily on the workplace account built through ongoing deferrals and company support.

That makes the 401(k) worth understanding on its own terms. This plan by Intermountain Health gives eligible workers a payroll-based way to build healthcare savings through pre-tax or Roth contributions, possible company funding, and tax-advantaged growth over time.

A clearer grasp of how the 401(k) works can help you make better choices, whether you are new to the organization, directly affected by the freeze, or thinking ahead to future retirement benefits. The more familiar you are with participation rules, company contributions, and vesting, the easier it becomes to connect this workplace plan to the bigger decisions you will make over time.

General Rules and Plan Features

Once you know the role this 401(k) may play, the next step is understanding how participation and company funding actually work. Several of the rules most likely to shape your decisions are worth knowing upfront:

Rules for those affected by the pension freeze: The pension plan is set to freeze on December 31st, 2026, and affected workers will stop earning new pension benefits after that date. Your earned benefits remain in place while future accumulation moves to a 401(k)-based program.

General eligibility rules: Eligible workers generally can begin participating on the first day of the payroll period on or after becoming employed and reaching age 18. Rehired qualified employees are generally immediately eligible to participate again.

Automatic enrollment: Workers hired or rehired on or after January 1st, 2020, who are age 18 or older and eligible to contribute are generally automatically enrolled at 1% thirty days after hire or rehire unless they elect otherwise first. The first salary deferral for an automatically enrolled worker is generally taken in the first payroll period after that thirty-day window ends.2

Changing your contribution rate: Participants who are automatically enrolled may change their deferral election or stop participating at any time. Workers who did not enroll when first eligible may generally enroll later and begin contributing with the next payroll period.

Pre-tax and Roth contributions: Participants may generally contribute a percentage of eligible compensation through payroll deductions. Those contributions can be made on a pre-tax basis, a Roth basis, or a combination of both.

Matching contributions: Intermountain matches employee contributions up to a maximum of 4% of eligible compensation, beginning on January 1st or July 1st following the employee’s one-year anniversary.3

Additional 2% company contribution: Intermountain also makes a separate employer contribution equal to 2% of eligible pay for participants who were added to the 401(k) defined contribution plan after the pension plan was closed.3

Vesting: Your own pre-tax contributions, Roth contributions, and rollover amounts are always 100% vested. Employer contributions credited on or after April 1, 2023, generally become fully vested after 3 years of vesting service.2

Portability: The plan accepts rollover contributions, which can help this remain one of your longer-term retirement accounts if your employment changes later. Your balance can stay invested in the plan until you qualify for and elect a distribution.

How to Make the Most of Intermountain Health 401(k) Benefits

Once you understand how the Intermountain 401(k) works, the next step is putting it to work more intentionally while you are still employed. That means focusing less on plan mechanics and more on the decisions that can improve long-term savings over time.

The best use of this account usually comes from steady habits, rather than one big move. Contribution levels, investment selections, and periodic reviews all shape how much flexibility this plan may give you later, especially as workers take on more responsibility for building their own retirement income.

Contribution Decisions That Can Strengthen Long-Term Results

Good contribution habits often do more to improve long-term results than people realize. A few practical decisions are worth revisiting regularly:

Capture the full match when possible: If you are eligible for matching dollars, contributing enough to receive the full available company match can materially improve long-term accumulation.

Review your percentage instead of setting it once: A contribution rate that felt manageable two years ago may no longer reflect your current income, expenses, or goals. Raising your deferral rate by even 1% at a time can be a practical way to build momentum without making your paycheck feel dramatically different.

Make the most of your annual contribution limits: For 2026, employees can contribute up to $24,500. Employees aged 50 and older can generally contribute an extra $8,000 in 2026, bringing the usual combined employee limit to $32,500. For those ages 60 through 63, the higher catch-up limit remains $11,250 in 2026, which can push total employee contributions to $35,750.4

Choose pre-tax, Roth, or a mix with intention: Intermountain allows eligible participants to make pre-tax contributions, Roth contributions, or a combination of both through payroll deductions. A traditional contribution may be more appealing if reducing current taxable income is the priority, while Roth contributions may be worth a closer look if you expect your tax picture to be similar or higher later on.

Investment and Allocation Decisions Inside the Plan

Saving into the plan is only part of the job. Your investment mix deserves periodic attention, especially if your current allocation was chosen years ago and no longer fits your timeline, expected retirement date, or comfort with market swings.

A sound allocation usually starts with when you expect to use the money. Someone who may rely on this 401(k) sooner may need a different balance of growth and stability than someone with a much longer runway, and diversification can help reduce the risk that one weak area does too much damage at the wrong time.

Cost awareness matters too. Two portfolios with similar holdings can produce different long-term results if one carries meaningfully higher expenses, so regular reviews can help keep the account aligned with your goals, your broader benefits picture, and other future income sources such as Social Security or individual retirement assets.

How the Intermountain 401(k) Fits Into a Bigger Retirement Plan

Your 401(k) should be evaluated based on the role it needs to play within your full retirement income structure. For some Intermountain employees, that means considering it alongside pension benefits, Social Security, individual retirement accounts, and other retirement income.

That role can shift depending on when you plan to retire and how you expect to spend your money. One person may need the 401(k) to help bridge the gap before pension or Social Security income begins, while another may want to preserve more of it for later years, larger expenses, or added flexibility if costs rise.

Looking at the 401(k) in isolation can lead to decisions that feel reasonable in the moment but do not fit as well once the rest of the plan comes into view. A stronger approach is to measure this account against your expected income needs, other available assets, and the timing of each benefit so the pieces work together in a more deliberate way.

Planning Issues Employees Should Not Ignore

Once the 401(k) is viewed as part of a broader income plan, a few larger decisions start to matter more. Those planning issues are worth thinking through before you make major retirement moves:

Taxes on contributions and withdrawals: Pre-tax savings may help reduce taxable income now, while Roth savings may create more flexibility later. The right balance depends on how your current earnings compare with the tax picture you expect in retirement.

Healthcare and Medicare timing: Healthcare costs can shape how much you may need to draw from your 401(k), especially in the years when employer coverage ends and Medicare begins. Employees nearing retirement often need to coordinate coverage decisions, premium costs, and out-of-pocket expenses with the income this account may be asked to provide.

Withdrawal timing and income sequencing: The order in which you draw from your 401(k), taxable assets, and other income sources can affect both annual taxes and how long your portfolio lasts. Proper sequencing can help create a smoother income pattern over time.

Inflation risk: A large 401(k) balance may look strong today, though its real spending power can erode over time if future living costs rise faster than your income plan can keep up.

Separation and rollover decisions: Leaving Intermountain can create important choices about whether to stay in the plan, roll assets elsewhere, or begin distributions when eligible. Those decisions can affect taxes, investment oversight, and future withdrawal flexibility.

Intermountain Health 401(k) Benefits FAQs

1. How does the pension freeze affect the role of the 401(k)?

Once pension accrual stops for affected employees after December 31st, 2026, the 401(k) becomes an even more important source of future retirement accumulation. That shift places more weight on your contribution rate, company contributions, and long-term investment decisions.

2. Should Intermountain employees increase their 401(k) contributions after the pension freeze?

That depends on your income needs, budget, and overall retirement picture, though many employees may benefit from revisiting their savings rate as the 401(k) takes on a larger role. Even small increases made consistently can make a meaningful difference over time.

3. How should employees choose investments inside the Intermountain 401(k)?

Your investment choices should reflect your expected retirement timeline, risk tolerance, and the role this account will play in your broader plan. A well-diversified allocation with reasonable costs and regular review is usually more helpful than leaving the account untouched for years.

4. Should I choose pre-tax or Roth contributions in the Intermountain 401(k)?

That choice depends largely on your current tax bracket and what you expect your tax situation to look like later. Some employees prefer the current-year tax break of pre-tax contributions, while others like the future tax-free withdrawal potential of Roth contributions.

5. What happens to my Intermountain 401(k) if I leave the company?

Your own contributions are always yours, and the plan may continue to be part of your long-term retirement strategy after employment ends. Depending on your situation, you may be able to leave assets in the plan, roll them to another qualified account, or begin distributions when eligible.

How Our Team Can Help You Make the Most of Your Intermountain 401(k)

Understanding your Intermountain Health 401(k) matters because the choices tied to this plan can influence far more than your current savings rate. They can shape how prepared you are for retirement, how efficiently you save, and how well your broader financial plan holds up over time.

Peterson Wealth Advisors works with Intermountain Health employees regularly, so we understand how these benefits connect to real planning decisions. We help you look at your 401(k) in the context of pension changes, Social Security, taxes, investment strategy, and retirement timing.

Whether you are still working through your options or getting closer to retirement, we can help you turn those decisions into a coordinated plan. To see how your Intermountain benefits fit into your broader retirement strategy, schedule a complimentary consultation with our team.

Resources:

Understanding the Intermountain Health Pension Freeze: What It Means for You

Posted on April 23, 2026April 23, 2026 by Daniel Ruske, CFP®

Recent news from Intermountain Health has changed the way many will think about retirement. For those who counted on a pension as part of their long-term picture, this is a real shift, even if the benefits you have already earned are still there.

That does not mean your plan is broken. However, it does mean the path forward may look different from what it did in the past. A frozen pension can still be part of a strong retirement strategy when you understand what is staying in place, what is changing, and how the rest of your income will need to carry more weight.

When Will the Intermountain Health Pension Freeze Take Effect?

The pension freeze takes effect on December 31st, 2026. Intermountain formally announced that currently employed participants can keep earning benefits through the end of 2026. After that date, additional accruals stop.1

Intermountain said earned benefits remain secure in a pension trust. The company attributed the change to several factors, including lower government reimbursement, market volatility, and inflationary pressure. Furthermore, the decision was presented as necessary for achieving future stability and protecting the retirement security of its current and former employees.1

Who Is Affected by the Intermountain Pension Freeze?

The effective date matters, though your current status matters just as much. Here is where the freeze lands for different groups:

Currently employed participants: If you are one of the Intermountain Health caregivers still participating in the pension, the benefit you have already earned stays yours through the freeze date. You can keep earning pension accruals through December 31st, 2026. If you remain employed after that date, pension growth stops, though you can still keep building for retirement through the 401(k) plan if you are eligible to participate.

Retirees and former workers with vested benefits: This group is not losing what has already been earned. The change does not impact retirees or former caregivers who already possess a vested pension benefit or are currently receiving payments.

Future hires and newer employees: Intermountain closed the pension to new participants in 2020, so newer employees have generally been building retirement through the 401(k) structure instead of the traditional pension plan.2 That means this freeze mainly changes the path for people who were still accruing benefits under the older pension design.

What the Pension Freeze Means for Your Retirement Income

Your pension can still be part of your future retirement income. It will just be based on what you have earned by the end of 2026 rather than years worked after that point. For many employees, that changes how future accumulation gets built.

If you stay with Intermountain after December 31st, 2026, you may still contribute to the 401(k) if eligible. This shift away from the pension places more pressure on your retirement income to come from workplace deferrals, employer-backed 401(k) features, personal savings, and the timing of Social Security.

Key Retirement Income Decisions After the Freeze

Once future pension growth has a hard stop, a few decisions start carrying more weight. The reason they matter more now is straightforward:

How much of the gap your 401(k) needs to cover: When pension accruals stop, the 401(k) usually has to do more of the long-term work. Intermountain’s plan generally matches employee contributions up to 4% of eligible compensation, with matching contributions beginning on January 1st or July 1st following the employee’s one-year anniversary. For participants added to the defined contribution program after the pension plan closes, Intermountain also provides a separate 2% employer contribution, which can make the account even more valuable once future pension benefits stop growing.3

When to claim Social Security: A frozen pension can increase the importance of getting this timing decision right. Delaying the start of benefits until age 70 can increase your monthly payment by 8% annually past your full retirement age.4 Conversely, claiming earlier provides access to income sooner, but at a lesser amount. The tradeoff deserves a closer look when one source of future growth has been capped.

How to evaluate a future pension election: Some participants may later compare a monthly pension with a lump sum, depending on plan rules and eligibility. That choice can affect cash flow, flexibility, taxes, and how much responsibility shifts to your investment accounts, which is why it deserves more than a one-number comparison.
How the pieces fit together: Pension income, the 401(k), healthcare costs, taxes, and Social Security timing all affect one another. A decision that looks fine on its own can work very differently once those moving parts are lined up side by side.

Practical Moves to Strengthen Your Plan Around the Freeze

When part of your long-term plan changes, it’s often helpful to do a broader review of the pieces around it. There are other useful moves that can help you make the transition with more confidence:

Confirm what your pension is actually projected to pay: A current estimate helps turn the frozen benefit into a real planning number instead of a rough assumption. That makes it easier to see how much income may still need to come from your 401(k), Social Security, and other assets.

Revisit how your 401(k) is invested: Once the workplace account takes on a larger role, investment choices deserve more attention. Allocation, diversification, fund costs, and overall risk level all matter more when this account may be carrying a bigger share of future income needs.

Use the contribution window well: The years leading up to and following the freeze may be a good time to revisit your savings rate, especially if your cash flow has improved or there are opportunities for additional catch-up contributions. Even modest increases in deferrals can have a meaningful effect when the pension is no longer adding new value each year.

Revisit the retirement timeline regularly: A freeze can change the income picture without changing the retirement date itself. Periodic reviews can help you see whether your projected pension, 401(k), and Social Security strategy are still lining up the way you intended.

Intermountain Health Pension Freeze FAQs

1. Does the Intermountain pension freeze mean I am losing my pension?

No. The freeze means future accruals stop after December 31st, 2026, for affected current participants. Benefits already earned remain in place.

2. Who is affected by the freeze?

Currently employed participants who are still earning pension benefits are affected. Current retirees and vested former workers keep what they already earned, and future hires were generally already outside the pension after the plan closed to new participants in 2020.

3. What does the pension freeze mean for my retirement timeline?

Your timeline may stay the same, though your income plan should be updated and reviewed. A frozen pension means less future growth from that benefit, so your 401(k), savings rate, and Social Security timing may need a closer look.

4. Should I increase my 401(k) contributions after the freeze?

For many people, that is worth reviewing. When future pension accrual stops, the 401(k) typically has to do more of the heavy lifting for retirement accumulation.

5. Should I take my pension as a lump sum or monthly income?

That depends on your broader income structure, tax picture, and comfort level managing assets. A direct rollover may keep a lump sum tax deferred if that option is available under plan rules.

6. How should Social Security fit into this decision?

Social Security should be coordinated with the pension and your 401(k) withdrawals. Delaying benefits can raise the monthly amount you receive for life, which may matter more after a pension freeze.

Turning a Pension Change Into a Retirement Plan

The Intermountain pension freeze changes how future income will be built, though it does not erase the value that has already been earned. For affected families, the real work now is deciding how the frozen pension, 401(k), Social Security, and personal savings will fit together.

That kind of work is hard to do well in pieces. Pension choices touch taxes. Social Security timing affects withdrawal strategy. Healthcare costs shape how much portfolio income you may need. One decision can change the value of the next.

Peterson Wealth Advisors works with Intermountain families regularly, and we help turn these moving parts into one coordinated retirement income plan. If you want to see how your pension, 401(k), and Social Security decisions fit together, schedule a complimentary consultation with our team.

Resources:

How the Perennial Income Model™ Helps Intermountain Caregivers Turn Benefits into a Reliable Retirement Paycheck

Posted on April 2, 2026April 14, 2026 by Scott M. Peterson, ChFC®

You’ve spent decades accumulating a pension benefit and building your retirement savings through Intermountain Health’s 401(k). Perhaps you have accumulated additional assets in HSAs, IRAs, or spousal plans along the way. But now comes the bigger question: How do I turn these assets into income I can actually live on, month after month, year after year?

At Peterson Wealth Advisors, we work with Intermountain Health Retirees to create exactly that: a structured, sustainable, and stress-free retirement income plan.

Our proprietary solution is called the Perennial Income Model™, and here’s how it transforms uncertainty into clarity.

The Problem With Traditional Withdrawal Strategies

Most retirees lack an actual retirement income plan built specifically to address their unique needs. Instead, they are told to “just withdraw 4% each year.” But what happens when the market drops 20%? What if inflation spikes or your expenses shift? And how do you know which accounts to tap first?

For Intermountain caregivers that are used to steady paychecks, this kind of guesswork feels risky and uncomfortable.

You need a smarter strategy that:

Matches your current investments with your future income needs
Minimizes market risk when you’re most vulnerable
Gives you confidence to spend, without fear of running out

That’s where the Perennial Income Model™ comes in.

How the Perennial Income Model™ Works

We divide your retirement into six 5-year segments, each with a specific responsibility to provide income for a five-year period of your retirement. Think of it as a series of retirement “paychecks” that change and adapt with you over time.

Segment 1 (Years 1–5): Stability and Access

This segment is invested conservatively and provides the income you need immediately in retirement. It’s your safe and dependable financial foundation.

Segment 2 (Years 6–10): Protected but Growing

Segment 2 is slightly more growth-oriented but still designed for stability. These assets will soon be your paycheck source and are positioned to support you without excessive risk.

Segments 3–6 (Years 11–30): Growth for the Long Haul

These later segments are invested with increasing levels of growth, aiming to outpace inflation and keep your income strong—even in your 80s and 90s.

Benefits for Intermountain Retirees

1. Predictable Paychecks

The Perennial Income Model™ allows us to structure distributions so that every month, you get a “retirement paycheck.” No guesswork. No scrambling.

2. Tax Efficiency

We tailor withdrawals from Roth, Traditional, and taxable accounts to reduce your tax burden over time. This is especially helpful for Intermountain retirees with both pre-tax and Roth 401(k) contributions.

3. Risk Management

The two biggest risks for retirees are market volatility and inflation. Because your early retirement years are funded conservatively, you’re not forced to sell stocks during market downturns. Money designated to provide income during the later years of your retirement is invested for growth to keep up with inflation.

4. Flexibility for Living Your Best Life, Serving, Traveling, or Giving

Whether that means traveling, serving in your church or community, or spending time with your family, the segmented design makes it easier to plan for larger, short-term expenses without disrupting your overall income strategy.

5. Confidence in Retirement

When you know what you can spend (and where it’s coming from), you make decisions with confidence. That’s a powerful shift from “Will I run out?” to “How do I want to live?”

Real-Life Application for Intermountain Retirees

We’ve used this model to help:

Nurses transition to early retirement with confidence
Physicians phasing out of practice into semi-retirement
Administrators maximizing Roth conversions during low-income years
Couples coordinating their incomes for maximum tax efficiency

Each plan is customized, but all are grounded in the same powerful structure.

Want to turn your Intermountain benefits into a clear, structured retirement paycheck? Let’s create a plan that brings lasting peace of mind.

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

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

Your Four Pension Options as an Intermountain Health Caregiver Over 60

Posted on April 1, 2026April 23, 2026 by Alex Call, CFP®

If you’re an Intermountain Health caregiver age 60 or older, the recent pension changes aren’t just informational — they’re actionable.

You’re in a unique window where real decisions need to be made. And the good news? You have options.

Let’s walk through the four primary paths available to you — and the bigger decisions that sit behind them.

The Four Options: Lump Sum or Monthly Pension, Now or Later

If you are 60 or older and still working at Intermountain Health, you can access your frozen pension benefit in one of four ways.

At the highest level, you must decide:

Do I take the lump sum?

Or do I annuitize (take monthly payments)?

And then within each of those, you must decide:

Do I take it now (at 60)?

Or do I wait and let it grow until 65?

Let’s break those down.

Option 1: Take the Lump Sum at Age 60

Once you turn 60, you’re eligible to take your pension as a lump sum.

This lump sum represents the present value of your lifetime pension benefit. You can:

Roll it directly into your 401(k) (even while still working)

Roll it into an IRA

Structure it within your broader retirement income plan

This option gives you the most control.

You control how the money is invested.
You control how and when it’s distributed.
You control how it integrates with the rest of your retirement assets.

For caregivers who value flexibility and long-term planning, this can be a powerful option.

Option 2: Wait and Take the Lump Sum at 65

If you don’t need the pension immediately, you can let it grow.

From age 60 to 65, the pension increases at 5% per year. That growth stops at 65, so there’s no additional incentive to wait beyond that age. For some caregivers, waiting allows:

A larger rollover amount

Better coordination with retirement timing

More efficient tax planning

A more conservative income base while keeping your 401(k) positioned for growth

But waiting only makes sense if it fits into your broader retirement timeline.

Option 3: Annuitize at Age 60 (Monthly Payments Now)

Instead of taking control of the lump sum, you can choose to receive monthly payments for life.

What’s unique about Intermountain’s structure is that you can start receiving pension income while still working. That means you could:

Continue earning your salary

Continue contributing to your 401(k)

And begin receiving pension income simultaneously

For some caregivers, this creates additional cash flow flexibility. However, once you annuitize, you’ve committed. You no longer control the lump sum. If you don’t need the income yet, those payments could also increase your taxable income unnecessarily.

Option 4: Wait and Annuitize at 65

Just like the lump sum option, if you wait to annuitize, the monthly benefit increases 5% per year until age 65. After that, there is no additional increase, so it is important to make a decision before then.

Waiting may result in a larger guaranteed monthly payment, but it also delays income and does not provide a legacy benefit if something happens to you early.

This decision often comes down to longevity assumptions, retirement timing, and how much guaranteed income you truly need.

The Three Bigger Decisions Behind the Options

While these four paths seem straightforward, they’re tied to three larger retirement decisions.

When Are You Retiring?

The pension freeze changes your projections. You may now have:

More going into your 401(k) because of the additional 2% employer contribution

A capped pension benefit that stops growing after 2026

This means your retirement age may shift slightly earlier or later depending on how the numbers fall. Before choosing an option, rerun your projections.

Control vs. Guarantees

At its core, the lump sum versus annuity decision is about this question: Do you want control, or do you want certainty?

The lump sum gives you control and flexibility.

The annuity provides a predictable income stream for life.

Neither is inherently better. The right answer depends on:

Your health and longevity expectations

Your other income sources (Social Security, 401(k), spouse’s benefits)

Your comfort with investment oversight

Your legacy goals

How Does Everything Work Together?

Your pension decision doesn’t live in isolation. It affects:

Your Social Security claiming strategy

Your Medicare enrollment timing

Your tax planning

Your withdrawal sequencing from retirement accounts

All of these decisions are interconnected. Changing one impacts the others. That’s why this isn’t simply a pension decision — it’s a retirement architecture decision.

Why Now Is the Time to Evaluate

There are pros and cons to every option. But the most important factor is this:

Time is on your side – especially while you’re still working. You have income, flexibility and options. Waiting until retirement to evaluate these decisions reduces your flexibility significantly.

Final Thoughts

If you’re over 60 at Intermountain Health, you’re in a rare position. You can:

Take control of your pension.

Begin income early.

Or allow it to grow strategically.

But the best choice isn’t determined by the pension alone. It’s determined by how the pension fits into a cohesive retirement income plan.

If you’d like to walk through your four options and see how they integrate with your Social Security, Medicare, and overall income strategy, we’re happy to help.

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.

Intermountain Health Employees: When and How to Work With a Financial Advisor

Posted on March 23, 2026April 8, 2026 by Carson Johnson, CFP®, CRPC™, NSSA™

If you work at Intermountain Health, you have likely spent years caring for other people. As retirement gets closer, there may come a point when you need someone to help care for your financial life too.

Retirement comes with a lot of moving parts. You may be thinking about when to retire, how to turn your savings into income, when to claim Social Security, how Medicare fits in, and how to make tax-smart decisions along the way. Even for people who have saved diligently, it can feel like a lot to sort through.

That is where a good financial advisor can help.

Not everyone needs an advisor, and not every advisor is the right fit. But for many Intermountain employees, there comes a point when professional guidance can make retirement feel much clearer and less overwhelming.

When It May Make Sense to Work With a Financial Advisor

There are a few situations where working with an advisor can be especially helpful.

You Are Within 5 to 10 Years of Retirement

This is often one of the most important planning windows. It is much easier to make thoughtful decisions before retirement than after the fact.

An advisor can help you:

estimate whether you are on track
position your 401(k) for retirement income
evaluate Roth conversion opportunities
think through when and how to start withdrawals

You Are Facing a Major Decision

Maybe you are thinking about retiring early, going part-time, or stepping into a different role. Those choices can affect more than just your paycheck. They can also impact your benefits, taxes, healthcare, and long-term retirement plan.

A financial advisor can help you see how one decision may affect the rest of the picture.

You Feel Overwhelmed by Your Benefits

Intermountain offers valuable benefits, but that does not always mean they are easy to understand. Your 401(k), insurance options, and retirement-related decisions can start to feel overwhelming, especially when several decisions hit at once.

An advisor who understands Intermountain’s system can help clarify your options and help you avoid costly mistakes.

You Want Confidence About Replacing Your Paycheck

One of the biggest shifts in retirement is moving from a regular paycheck to living off Social Security, savings, and investments.

That can feel unsettling. A good advisor can help you build a plan for where your income will come from, how much you can safely spend, and how to make that income last. More than anything, that kind of plan can provide peace of mind.

What a Good Financial Advisor Should Help You With

A financial advisor should do more than manage investments. They should help you coordinate the bigger picture, including:

creating a retirement income plan
aligning your investments with when you will need the money, whether that be income needed now or income needed thirty years from now
minimizing taxes on withdrawals
planning for healthcare and insurance
coordinating charitable giving and legacy goals

For many Intermountain employees, these decisions are closely connected. That is why it helps to work with someone who can bring all the moving parts together into one plan.

At Peterson Wealth Advisors, we use the Perennial Income Model™, a planning strategy designed to structure retirement income over time. The goal is to create a clear income plan rather than simply withdrawing money and hoping it works. This approach is designed to protect near-term income from market volatility, allow longer-term investments time to grow, and provide a clearer path for spending throughout retirement.

How to Choose the Right Advisor

If you decide to get help, choosing the right advisor matters. Here are a few things to look for:

Fiduciary standard. You want an advisor who is legally required to act in your best interest.

Fee-only compensation. Many people prefer an advisor who is paid directly for advice rather than through commissions.

Retirement planning experience. Retirement involves more than investments. You want someone who understands income planning, taxes, Social Security, and Medicare.

A comprehensive approach. The best advisors look at your full financial picture, not just your portfolio.

Final Thoughts

You have spent your career serving others. As you prepare for retirement, it is worth asking whether you want to handle every financial decision on your own or whether having a guide would help you move forward with more clarity and confidence.

For some people, a financial advisor is unnecessary. For others, the right advisor can simplify important decisions, reduce stress, and help them retire with greater peace of mind.

Thinking about retirement and wondering whether professional guidance would help? Visit petersonwealth.com or call (801) 225-0000 to schedule a conversation.

Peterson Wealth Advisors is a registered investment adviser. This information is for educational purposes only and should not be considered individualized financial advice. Please consult a qualified financial professional before implementing any strategy.

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

Posted on March 6, 2026March 24, 2026 by Alex Call, CFP®

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.

Intermountain Health: Losing Pensions or Empowering Caregivers?

Posted on January 30, 2026March 5, 2026 by Scott M. Peterson, ChFC®

A generation ago, retirees didn’t have a lot of choice when it came to how they would structure their retirement income. They had Social Security, and their guaranteed monthly pension checks were provided by the employer they had dedicated thirty years of their lives to. In 1975, almost 80% of retirement income came from Social Security and defined benefit pension plans. The employees had little opportunity to contribute towards their own retirements through payroll deduction programs like 401(k)s. Employer-provided pensions are technically defined benefit pension plans. For ease of understanding, I will refer to these plans as “pensions.”

The Shift from Pensions to 401(k)s

The various plans where employees and employers can deposit into individual accounts are called defined contribution plans. Again, for ease of understanding, I will refer to all the various defined contribution plans as 401(k)s. The 401(k) was born in 1978, and it gained immediate popularity and started replacing the traditional pension plan. In 1975, there were 103,346 pension plans in the U.S.; today, there are fewer than 45,000. Additionally, the majority of the 45,000 remaining pension plans are found in the public sector with states, municipalities, universities, and school districts. It is estimated that there remain fewer than 7,000 private sector pension plans in the United States.

Following the national trend, Intermountain Health announced on January 20, 2026, that it is freezing its pension plan. Freezing a plan does not mean that employees will lose their pensions; it means that Intermountain Health will stop funding or adding more money to existing plans. Participants of the pension will continue to have the choice of receiving a guaranteed monthly income when they retire, or they will be able to roll the value of their pension into an IRA. Like other corporations, Intermountain Health decided to use the money that was being allocated to fund their pension in alternative ways, which would be more beneficial to their caregivers.

There are three reasons why companies are transitioning from the traditional pension plan to 401(k)s

Pension plans have become too burdensome for most employers to maintain.

The decline of the traditional pension plan began in the 1970s when the government tried to rectify the abuse it saw in corporate America. They did this by passing the Employee Retirement Income Security Act (ERISA). While ERISA has corrected much of the corporate abuse over the years, it also introduced many complicated laws that are hard to comply with. To avoid dealing with the politics and complexities of ERISA, many companies decided to do away with their pension plans. They were never a mandatory offering for companies, and it was easier to do away with the plans than to conform to ERISA’s complex regulations.

There is a tremendous liability for companies that provide pension plans.

Companies that offer these plans must, by law, provide current retirees with their pre-determined retirement benefit every month, even if the pool of money the pensions are paid from underperforms. Pension payments, especially during turbulent economic times, have the potential to put a company out of business. As companies calculate the risks, the costs, and the difficulty of maintaining pension plans, most companies conclude that there are better ways to provide value to their employees.

Monthly pension payments come from an investment portfolio managed by the pension plan. Many pension plans don’t have sufficient money in their plans to pay projected obligations; or, in other words, they are underfunded. In fact, the latest studies indicate that pension plans across the United States are underfunded by hundreds of billions of dollars. Intermountain Health’s pension plan is fully funded. The management of Intermountain Health’s pension plan has done an excellent job saving and investing to ensure that there will be sufficient dollars to be able to pay all the current and future obligations that it has to their employees.

Times have changed.

Employers recognize that pension plans do not protect and benefit their employees as they once did. Two societal changes have made pension plans less beneficial:

First, we have become a much more mobile society.

Gone are the days when an employee worked for one company for an entire career. Pension plans rewarded the long-term employee with a monthly retirement check, but these rewards came with a cost— not of money, but of time. The price to be eligible for these plans was decades of loyalty to a single company.

401(k) plans of today are much better equipped to deal with the shorter duration that most workers commit to a single employer. Even if employees work for an employer for a short amount of time, they can roll 100% of their contributions to a new 401(k), or to an IRA, upon terminating employment with the employer.

Second, longer life expectancies.

Inflation has always been with us, but this generation has a unique challenge when it comes to inflation. It is rare to find a private sector company with a cost-of-living benefit included within its pension plan. In other words, the monthly payments that retirees receive from their pension are usually not adjusted for inflation. Intermountain Health’s pension does not adjust for inflation. If you only live 10-15 years in retirement, as did previous generations, inflation does not have time to become a lifestyle-changing problem. Many of today’s retirees will live thirty years or more in retirement, and thirty-year retirements are destroyed by inflation. For example, if you start your retirement receiving a $3,000 dollar per month pension payment, and your payment is not adjusted for inflation, your monthly payment will stay $3,000 until you die. The historical inflation rate in the United States has been close to 3%, and at just a 3% inflation rate, the $3,000 monthly payment will only be able to buy the equivalent of $1,200 worth of goods and services at the end of a thirty-year retirement. That is a sixty percent cut in pay. Because of inflation and longer life expectancies, traditional pension plans do not furnish the security that they were originally intended to provide.

Before we get into the impact that this change will have on caregivers, I first want to remind you of the benefits that come with participating in a 401(k) plan.

Key Benefits of 401(k) plans:

Tax Savings Now (Traditional 401(k)): Contributions are deducted from your paycheck before taxes, reducing your current taxable income and potentially lowering your tax bracket.

Tax-Deferred Growth: Your investments grow without being taxed each year, letting your money compound more effectively.

Tax-Free Withdrawals (Roth 401(k)): If you choose the Roth option, you pay taxes now, but qualified withdrawals in retirement are completely tax-free.

Employer Match: Many employers contribute money to your account, often dollar-for-dollar up to a certain percentage of your salary – essentially free money.

Compound Interest: Starting early allows your earnings to generate their own earnings, significantly boosting your savings over time.

Convenience: Contributions are automatically taken from your paycheck, making saving effortless and disciplined.

Higher Limits: You can save more in a 401(k) annually compared to an IRA.

Portability: You can take your 401(k) with you when changing jobs, often by rolling it over.

The Impact of Freezing the Pension and Enhancing the 401(k) for Intermountain Health Caregivers

Since the announcement of this change, I have heard some Intermountain Health employees express that they are “losing their pension.” That statement is false and puts a negative spin on what I believe to be a very positive development. Intermountain Health is simply reallocating resources from the pension plan to the employees’ 401(k) plans. Beginning January 2027, Intermountain Health is going to pay all caregivers an additional 2% of their salary to their 401(k). Adding this, along with the already generous match that Intermountain Health provides to its 401(k) plan participants, makes Intermountain Health’s 401(k) one of the elite 401(k) plans in the country. Additionally, the company is allowing its employees to rollover the value of their pensions, while they are still employed, to an IRA or to their existing 401(k)s at Intermountain Health.

By freezing the pension plan and enhancing the 401(k) plan, Intermountain Health is putting its employees in charge of their own destiny. Caregivers should be excited about the opportunity to have more control over their own finances. Granted, some caregivers will need to be more thoughtful than they have been in the past as they manage their own 401(k)s. Some will need to become better educated. Even though this change will place more responsibility upon caregivers to manage their own retirements, there is a tremendous upside for those who learn, take advantage of this opportunity, and utilize the tools and the resources that they are given to enhance their retirement and grow their 401(k).

Intermountain Health is dedicated to the personal success of its caregivers, and they recognize that additional educational opportunities will need to be offered to ensure a successful transition and to prepare employees to have the best possible retirement. Intermountain Health has asked our company, Peterson Wealth Advisors, to teach the same class that we teach to employees at Brigham Young University and to the alumni of Utah Valley University to Intermountain Health caregivers. This online class helps participants to make sound decisions regarding their 401(k)s now and prepares future retirees with the knowledge they will need to make the best decisions at retirement. The class objective is to teach attendees how to create a tax-efficient, inflation-adjusted stream of income that will last throughout retirement.

Details as to the timing of the class will be forthcoming.