Contacts & Resources

401(k) Retirement Savings Plan

To encourage you to save for the future, VillageMD provides all eligible team members with access to a 401(k) retirement savings plan with a company match.


The VillageMD 401(k) Plan helps you save money for your retirement on a tax-advantaged basis. If you are eligible to participate in the Plan, you may set aside and invest pre-tax and Roth 401(k) money for your future. VillageMD makes a matching contribution to help you grow your retirement account even more.

Saving for the future is important, so it’s a good idea to take the time to learn about the Plan and how it works. By better understanding it, you can make choices that fit your financial goals.

View Your Whole Financial Picture

ADP Retirement Services, the Plan administrator, can help you track, manage and plan for all your financial priorities. Through your ADP account dashboard, you can get a real-time view of your spending, saving, any loan balances and more with a single login. 


  • If you were hired directly by VillageMD, your eligibility starts the first of the month on or after three consecutive months of employment and after reaching age 21.
  • If you joined through an acquisition and worked three months for your previous employer, your eligibility starts with your hire date, or after you reach age 21.


  • Within 30 to 45 days before your Plan participation starts, you will receive communications directly from ADP Retirement Services with details about how and when you can access your account, as well as how to make investment elections.
  • If you don’t opt out or self-enroll within 35 days after the date on the letter, you will be automatically enrolled and an account will be opened for you:
    • 3% of your eligible pay will be deducted from your pay on a pre-tax basis.
    • Your contribution will be invested entirely in the Fidelity Freedom target date fund series based on your date of birth unless you elect otherwise.
    • Your automatic enrollment election will increase by 1% each year up to a maximum of 6% of your eligible pay unless you make another choice. The increase occurs near the anniversary of your enrollment in the Plan.
  • You may make changes at any time to either your deferral or investment elections.

Employee Contributions

  • You contribute to your account through convenient payroll deductions.
  • Your contribution level automatically starts at 3% of your eligible pay, but you can change it – or stop it – any time you like by accessing your ADP Retirement Services account. Changes will take effect within the next two payroll periods.
  • You may contribute from 1% to 90% of your pay as pre-tax and/or Roth 401(k) contributions, all through payroll deductions taken each pay period. The total of your pre-tax and Roth 401(k) contributions cannot exceed 90% or annual IRS limits.
  • If you’re age 50 or older by the end of a given calendar year, you can make additional pre-tax and/or Roth 401(k) catch-up contributions for that year, up to annual IRS limits.

VillageMD Matching Contributions

VillageMD will provide matching contributions of up to 3.5% of your eligible pay and place the funds in your account:

  • VillageMD will match 100% of the first 1% of pay you contribute, and 50% of the next 5% of pay you contribute.
  • Thus, if you contribute a full 6% of pay, VillageMD will contribute an amount equal to 3.5% of your eligible pay to your account.
  • The match will be invested in the same manner that your own contributions are invested in the Plan.

Making a Rollover

If you had a 401(k) plan with your prior employer, you can rollover these funds into your new VillageMD 401(k) Retirement Plan. Here are the steps to make a rollover.

  • Step 1: Take a distribution from your former employer or account holder. Request that the check be made payable to Reliance Trust Company.
  • Step 2: Once you receive the check, go to the ADP website and select Contributions/Consider Your Rollover Options/View and Download Form. Complete and sign the form.
  • Step 3: Mail these three documents:
    • Your completed form
    • Your check
    • The Statement of Distribution that was included with your check from your previous account

    Note: If all three documents are not included, the items sent will immediately be mailed back to you.

  • Mailing Address:
    Overnight Mail
    Attention: Lockbox 13399
    Lockbox Dept. Suite E
    100 Grove Road
    West Deptford, NJ 08066
    Regular Mail
    P.O. Box 13399
    Newark NJ 07101-3399


While your own 401(k) contributions (including any Rollover contributions) are always 100% vested, VillageMD matching contributions are subject to a vesting period based on your length of service, as shown below. If you leave VillageMD for any reason, the vested portion of the 401(k) account is yours to keep.


Service Period

Match Vesting

Less than 1 year


1-2 years


2+ years


NOTE: If you join VillageMD through an acquisition, your service with the acquired group counts toward vesting of VillageMD matching contributions.


401(k) Savings Example

Team Member Contributions

VillageMD Match

Gross Compensation: $50,000

First 1% at 100%: $500

Deferral Election: 6%

2% to 6% at 50%: $1,250

Team Member Deferral: $3,000

Total Match : $1,750


Total Match % of Pay: 3.5%

Total 401(k) Contribution: $4,750

Making Beneficiary Designations

Make sure your retirement savings will go to the people you choose. To make your beneficiary designations, go to > My Account > Manage My Beneficiaries > Select an Option.

Select one of these two options:

  • Option 1: I am either married and want all of my death benefits paid to my spouse, or not married.
    • You can make your beneficiary election online.

  • Option 2: I am married and want my death benefits paid to someone other than my spouse or in addition to my spouse. > Continue > Enter your beneficiary information
    • Follow these steps:
      • Complete and print the Beneficiary Designation Form.
      • Have your spouse sign the form in the presence of a notary.
      • Submit the form to the address listed on the form.

    If you have any questions, contact the 401(k) Plan Participant Service Team at 1-866-695-7526.

Investment Options

You have a variety of investment options which you can explore when you log in to your account with ADP Retirement Services.

 Your Account Earnings

  • Your pre-tax contributions, any VillageMD contribution and the earnings on those contributions grow tax-deferred as long as they remain in the Plan.
  • On withdrawal, pre-tax and matching contributions, plus earnings on those amounts, are subject to taxes.
  • Earnings on Roth 401(k) contributions grow tax-deferred and, subject to certain limits, aren’t subject to taxes when you withdraw them.

Loans and Withdrawals

  • In some cases, you may take loans and/or request withdrawals from your account while you remain employed.
  • You can receive a full distribution of your vested account when you leave VillageMD.
  • If you were automatically enrolled and you did not choose to participate in the Plan, you can receive a refund of your deferrals within 90 days of the first automatic withdrawal. You must make the withdrawal request before the end of the 90-day period.