What you need to know
The IRS has raised the 401(k) contribution limit for 2024 to $23,000 (up from $22,500 in 2023). If you are age 50 or older, you can contribute an additional $7,500 in catch-up contributions, (same as in 2023) for a total of $30,500.
We encourage you to visit the MyRetirement website through Empower, where you can access your 401(k) Savings Plan, change your contribution amount, and take advantage of the personalized investing and retirement planning tools and resources to help build your retirement nest egg.
Take flight toward your future financial security
Go to MyRetirement and follow these steps to register:
- From the login page, choose Register.
- Check that you are on the I do not have a PIN tab.
- Enter your Social Security number, zip code, name, and date of birth.
- Follow the prompts to create a username and password.
- Complete enhanced security steps for receiving a verification code (via text, a call, or email) and enter the code once you receive it.
- If you do not have a personal email and/or mobile phone number on file, you may be asked to provide one.
Explore your account and complete initial reviews
Take some time to explore the MyRetirement website! Be sure to check out the Plan Details Overview dashboard, your account details, the financial planning resources, and other tools such as the retirement planner calculator. We recommend that you set up your communication preferences to be sure you receive necessary electronic messages and any email alerts regarding your account. While on the site, take a few minutes to also:
- Review your investment allocations for your account balance and future contributions.
- Use the online tools and resources to help you reach your financial and retirement goals.
- Review your beneficiary(ies) and ensure the information captured in the transfer is complete, just in case the unthinkable happens.
- Download the Empower app for use on your smartphone or tablet. You can also access the Empower app from our site.
Accessing your account once you've registered
Once you have completed the registration process, the next time you visit the website you can simply select Sign in after entering your username and password credentials.
For active employees who are on our BAE Systems network, you will be able to navigate to the MyRetirement site using SSO access from this site and the Resource Center portal.
Call 1 800 622 5533 to reach the new BAE Systems Retirement Center and speak with a representative about our 401(k) Savings Plan and the new MyRetirement website.