Retirement plan participants

Take Care of Future You

CVS Health Future Fund 401(k) Plan

Future Fund Overview

CVS Health and Vanguard want to help you reach a more comfortable retirement. Future Fund is a powerful tool to help you get there. Here’s how to get started:

Join Future Fund

You are eligible to participate in Future Fund on the first of the month following your date of hire. Note that you must be at least age 18 to join.

Get the full company match

After completing a “year of service,” you are eligible to receive company matching contributions. For every $1 you contribute of the first 5% of your pay each pay period, CVS Health will contribute $1. A year of service is a 12-month period in which you work at least 1,000 hours.

Whether you prefer staying connected through a desktop computer, laptop, tablet or smartphone, Future Fund is always at your fingertips. You can use your plan number, 092038, to sign up for online access. If you have an individual account with Vanguard, you’ll also need that account number to complete the web registration process. It only takes a few minutes to register. Access Future Fund by logging into Colleague Zone or Vanguard directly at vanguard.com/retirementplans.

E-delivery provides a secure and convenient way to receive important communications about your Future Fund account. You will be prompted to sign up for e-delivery during the web registration process.

Powerful Benefits for Saving in Future Fund

Your savings compound over time.

By keeping your money invested for the long term—and reinvesting interest, dividends, and capital gains you may earn along the way—you can harness the power of compounding.

You maintain control.

You choose how much you save and how your contributions are invested, and you can make changes as necessary. If you change jobs, you can take your balance with you.

You choose when to save on taxes.

You can choose to make pre-tax or Roth after-tax contributions. Learn more about Roth and find out if it may be right for you.

Pre-tax contributions lower your taxable income, so you avoid taxes today. But you do not avoid taxes forever. When you make a withdrawal, you will owe ordinary income taxes on your contributions and any earnings.¹

Roth after-tax contributions do not lower your taxable income, so you pay taxes today. But you can make tax-free withdrawals of both your contributions and any earnings, provided you are at least age 59½ and made your first Roth contribution at least five years earlier.²

After you complete one year of service and 1,000 hours, you are eligible to receive company matching contributions. For every $1 you contribute of the first 5% of your pay, CVS Health will contribute $1. Matching contributions are applied each pay period. When you contribute in a pay period, CVS Health matches in that pay period. To get the full match, you should contribute at least 5% of your pay.

¹You may need to pay income tax on the money you take from your retirement account. If you’re under age 59½, you may also have to pay a 10% federal penalty tax.

² Taxes: Taking money from your retirement account can affect how much you’ll have to pay in taxes. You’ll owe taxes on pre-tax money. You won’t owe taxes on Roth earnings as long as you are age 59½ or older and it’s been at least five years since your first Roth contribution. If required by law, Vanguard will withhold some taxes for you. You may need to pay a 10% federal penalty tax if you take money out early.

When can I join the plan?

CVS Health colleagues who are at least age 18 can enroll in Future Fund on the first day of the month after your hire date. You have two ways to enroll:

Easy Enroll.

It’s easy to start saving in Future Fund. When you join, you can pick a pre-set election or build your own. By choosing the pre-set election, you’ll contribute 5% of your pay on a pre-tax basis to be invested in the Target Date Fund with the year closest to when you will reach age 65. Your contribution rate will also increase by 1% each year until it reaches 10% of your pay.

Enroll now

Pick Your Own.

Or, if you wish, you can build your own elections. If this option is more appealing, remember, when eligible after a year of service, the CVS Health match is on the first 5% of pay ($1 for $1) you contribute. To get the full company match, you should save at least 5%. But even if you can afford to save only 1%, go ahead and do it. Once you’ve started saving, you can build up over time.

The investments in Future Fund are not public mutual funds. They are available only to tax-qualified plans and their eligible participants. Investment objectives, risks, charges, expenses and other important information should be considered carefully before investing.

Saving in the Plan and Company Match

Your Contributions

You can contribute 1% to 75% of your eligible pay on a pre-tax and/or Roth after-tax basis.
Your combined contributions cannot exceed 75% of your eligible pay.
You may make a separate incentive contribution election, which can be from 1% to 75% of your eligible pay.

Learn more about Roth after-tax contributions

Company Contributions

For every $1 you contribute of the first 5% of your pay, CVS Health will contribute $1 to your account.

After completing one year of service and 1,000 hours worked, you are eligible to receive company matching contributions.
Matching contributions are applied each pay period.
You are always 100% vested in your own contributions and their earnings.
You are also immediately 100% vested in company matching contributions that you receive.

View the current IRS limits on retirement plan contributions

Investment options

Future Fund offers a comprehensive investment lineup composed of all-in-one investments and core investments that allow you to create your own asset mix. View the complete list of investment options.

Important Information About CVS Health Stock Fund

No more than 20% of your current contribution elections (or rollovers) can be invested in CVS Health Stock Fund.

The performance of a company stock fund depends on the price of a single stock, which can move up or down dramatically. So this type of fund can be riskier than a stock mutual fund, which may own hundreds or thousands of stocks.

Get Help With Investing

You have several options for getting advice, guidance, or even full account management in Future Fund. Here are your choices:

Investor Questionnaire

If you just want a suggested asset mix, fill out this short investor questionnaire. It will give you a starting point for choosing your own mix of investments.

Personal Online Advisor, Powered by Edelman Financial Engines

If you want online guidance, investment recommendations, and goal forecasting, Personal Online Advisor could be right for you. It’s available in your plan at no cost to you.

Vanguard Managed Account Program (VMAP™), Powered by Edelman Financial Engines

VMAP provides ongoing professional management for your investments in the plan. The service will select your investments, invest your money, and periodically make changes to your investment mix to suit your goals.

You’ll pay an annual fee based on your account balance. Look for information in the mail and at work about a fee schedule and trial offer once you’re enrolled in the plan.

To learn more about your advice options, log in to your account, select Manage my money, and then Advice.

The Vanguard Group has partnered with Financial Engines Advisors L.L.C. (FEA) to provide subadvisory services to the Vanguard Managed Account Program and Personal Online Advisor. FEA is an independent, federally registered investment advisor that does not sell investments or receive commission for the investments it recommends with respect to the services which it is engaged in as subadvisor for Vanguard Advisers, Inc. (VAI). Advice is provided by Vanguard Advisers, Inc. (VAI), a federally registered investment advisor and an affiliate of The Vanguard Group, Inc. (Vanguard). Vanguard is owned by the Vanguard Funds, which are distributed by Vanguard Marketing Corporation, a registered broker-dealer affiliated with VAI and Vanguard. Neither Vanguard, FEA, nor their respective affiliates guarantee future results. Vanguard will use your information in accordance with Vanguard’s Privacy Policy.

Access Your Money

If you need access to your money while you’re still working, there are options.

Loans.

You can borrow from your account, subject to terms and conditions. Borrowing from your retirement plan does have long-term consequences, so be sure you understand the impact before you move forward.

How to respond to a financial emergency.
Log in to your account and select Access my money to request a loan.

In-service withdrawals.

You can withdraw from your account balance under certain circumstances. These include verifiable financial hardship, after age 59½ withdrawals, rollover withdrawals, and qualified reservist withdrawals. To learn more, log in to your account and select Access my money.¹

If you leave your employer or retire, you have more flexibility for accessing your plan account balance.

Separation from service.

If you leave your employer, you can withdraw all or part of your balance. You may have several options for doing so—you’ll receive notification. Remember, if you take money from your plan, you may need to pay taxes and, if you’re under age 59½, potential penalties.¹

Upon retirement.

When you’re ready to retire, you can take your money as a lump sum or as installments. Or, you can roll it over to an IRA or leave it in the plan.² Vanguard has resources to help you decide—just log in to your account.

¹Taxes: Taking money from your retirement account can affect how much you'll have to pay in taxes. You'll owe taxes on pre-tax money. You won't owe taxes on Roth earnings as long as you are age 59½ or older and it's been at least five years since your first Roth contribution. If required by law, Vanguard will withhold some taxes for you. You may need to pay a 10% federal penalty tax if you take money out early.

² Whether you keep your money where it is, move it to an IRA, or move it to another employer’s plan depends on your situation and preferences. Some things to consider are available investments and services, fees and expenses, and protection from creditors. Also consider withdrawal penalties, required distributions, and the tax effects of moving company stock to an IRA. There are other factors too. Weigh the pros and cons before you make your decision.

Name a Beneficiary

It’s your beneficiary designation, not your will, that determines where your plan account balance goes when the time comes.

It’s very important that you name one or more beneficiaries, and that you review them periodically to make sure they’re up to date.

If you’re married, your spouse is automatically your primary beneficiary. You’ll need their permission to change that designation. You can, however, have multiple contingent beneficiaries.

To name or check your beneficiaries, log in to your account, select Profile at the top of the page, and scroll down to Beneficiary.

Important Plan Documents and Education

You can access important plan documents here.

Summary Plan Description

Download PDF

Future Fund investment lineup

Download PDF

Can I get help with all of this?

No matter what your retirement investing needs are, we can help. Just join your plan to get started.

For short and engaging lessons that can help with retirement planning and your other financial goals, check out the articles on the Vanguard Education site.

Whenever you invest, there's a chance you could lose the money.