401(k) Disability Protection Plan and Long-Term Disability Insurance

Helps protect your 401(k) contributions and provides payments to help cover your bills and expenses when an injury or illness keeps you away from work.

Enroll today for the 401(k) Disability Protection Plan and Long-Term Disability Insurance

Please note: Enrollment and cancellation of enrollment in the 401(k) Disability Protection Plan can only occur during the IBM Annual Enrollment period. Enrollment in the Long Term Disability plan only occurs during the IBM Annual Enrollment Period or as part of new hire benefit elections.

Tony hurt his back, but not his bank account

If serious injury or illness keeps you from working, disability insurance can help you maintain your quality of life while recovering.

401(k) Disability Protection Plan

Help protect your 401(k) plan contributions if you cannot work.¹

Medical insurance may help cover treatment due to an accident or illness. But how do you cover your income? Disability insurance may help cover essential expenses when an extended illness or injury keeps you away from work. You’ll have the comfort of knowing financial support is available when needed to help maintain your quality of life. IBM offers options to help protect your income and your 401(k) plan contributions when you’re unable to work due to disability.

401(k) Disability Protection Plan

Your 401(k) account is a valuable component of a comprehensive financial plan, but what if you’re disabled and can no longer contribute to your 401(k) account? During annual enrollment you can enroll without a medical review. You can choose to insure any combination of:

  • Your before-tax contributions
  • IBM’s match
  • IBM’s automatic contributions
  • IBM’s special savings award, if you are eligible to receive it
Watch this video to learn more about the 401(k) Disability Protection Plan

Long-Term Disability Insurance Options

Long-Term Disability

Under the IBM Long-Term Disability Plan (the “LTD Plan”), you are eligible for a monthly income benefit, subject to the limitations and conditions of the Plan, if you are disabled and have completed the elimination period. The employee contribution is different for those with less than five years of services and those who have more than five years of service.

Long-Term Disability – more than 5 years of service

IBM automatically provides coverage of 50% of your regular monthly compensation at no cost to you.

You may choose to purchase coverage of 66 2/3% of your regular monthly compensation during annual enrollment. Rates vary based on age and regular monthly compensation, and premiums are deducted on a pre-tax basis. Rates may be revised annually and are provided in a supplemental sheet that is available from the IBM Employee Services Center upon request. If you do not purchase 66 2/3% coverage during annual enrollment, your default coverage will be 50%.

If you choose to increase your LTD coverage to the 66 2/3% option within 30 days of reaching five years of service, a medical review will not be required. If you wish to increase your LTD coverage at a later time, you may do so during annual enrollment and a medical review will be required.

Long-Term Disability – less than 5 years of service

You may choose to enroll in one of the following coverage options:

  • 50% of regular monthly compensation 
  • 66 2/3% of regular monthly compensation 
  • No LTD coverage 

If you choose “No LTD coverage”, you will not receive salary continuation benefits beyond those offered by the IBM Short-Term Disability Plan. If you do not choose an LTD coverage option when you are first eligible to enroll, you will be automatically enrolled in 50% income replacement coverage. If you choose to increase your LTD coverage at a later time from “No LTD coverage” to the 50% or 66 2/3% option, or from the 50% option to the 66 2/3% option prior to attaining 5 years of service, you may do so during an IBM annual enrollment period and a medical review will be required.

If you choose to purchase coverage of 50% or 66 2/3%, rates will vary based on age and regular monthly compensation, and premiums are deducted on a pre-tax basis. Rates may be revised annually and are provided in a supplemental sheet that is available from the IBM Employee Services Center upon request.

Watch this video to learn more about the LTD insurance

Long-Term Disability Insurance FAQs

Consider any expenses you may incur in the running of your household, including car payments, mortgage payments, groceries, child care, tuition and more, that would still need to be covered in the event of a disability.

Depending upon the amount of coverage you choose, payment will be made directly to you — not your employer, hospital, doctor or insurance company.

Enrolling in a plan is not mandatory, but it is a good idea and an affordable way to help protect your income. Without disability insurance, you may need to use your savings or tap into other assets to cover your essential living expenses while you recover from an accident or illness.

MetLife offers various ways to submit your claim based on your plan, including online, mail and phone options. Plus, you can track the status of your claim online or on the MetLife US App. Search "MetLife" on iTunes® App Store or Google Play to download the app.

1 Like most disability income insurance policies, MetLife’s policies contain certain exclusions, waiting periods, reductions, limitations and terms for keeping them in force. Please refer to the IBM Summary Plan Description for more details by visiting www.NetBenefits.com/IBM or call the IBM Benefits Center - Provided by Fidelity at 1-866-937-0720.