Find my Southern Company 401(k) plan

Southern Company offers THE SOUTHERN COMPANY EMPLOYEE SAVINGS PLAN through Merrill Lynch . Their plan covers 34,822 employees .

Updated on Jul 05, 2024

Southern Company 401(k) plan information

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Southern Company 401(k) plan details

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Retiree Benefits

Georgia Power values your service and is committed to keeping retired employees as a part of our family. Below you will find the companies and organizations that can assist you with your benefits.

Visit the  Health Care Directives Georgia Department of Human Services  website for helpful documents and forms.

Southern Company Employee Service Center

100 Half Day Road  Lincolnshire, IL 60069-1441 Phone: 1-888-435-7563

The Southern Company Employee Service Center (ESC) is responsible for address changes, change of beneficiary, tax withholding forms, direct deposit changes, pension-related questions, questions about your life insurance, etc. A PIN (personal identification number) along with your Social Security number is necessary to access your information. ESC representatives are available Monday–Friday 8 a.m. to 8 p.m Eastern Time. Log on to the ESC website and view your personal data.

Anthem Blue Cross Blue Shield

P.O. Box 105187 Atlanta, GA 30348 Phone: 1-877-271-2904

Anthem Blue Cross Blue Shield is responsible for processing all medical claims.

They will mail needed claim forms or provide information about a claim. Anthem provides your medical ID card if it is lost and you need a replacement.

CVS Caremark

P. O. Box 52054 Phoenix, AZ 85072-2054 Prescription Drug Claims:  1-800-843-5670

Prescription Mail Order: 1-800-843-5670 

P. O. Box 94467 Palatine, IL 60094-4467

This address is for mail-order

http://www.caremark.com  handles all mail order prescription drug claims.

CVS Caremark is responsible for processing all over the counter prescription drug claims. Caremark provides replacement drug identification cards. Caremark also handles all mail order prescription drug claims.

Merrill Lynch

Merrill Lynch

Phone: 1-800-369-9890

Administers the Southern Company Employee Savings Plan and Employee Stock Ownership Plan (ESOP) 

Shareowner Services

P. O. Box 358016  Pittsburgh, PA 15252-8016  Phone: 1-800-554-7626 

VSP® Vision Care

Phone: 1-855-218-5265

Offers savings on eye exams and discounts on glasses, frames and contact lenses at selected providers.

Delta Dental

Phone: 1-800-438-6388

Delta Dental administers two dental plan options for Southern Company's retirees. Delta Dental provides your dental ID card when you enroll and can replace it if lost.

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SCS/SNC Retirees

The official website for retired employees from southern company services and southern nuclear company who are members of the scs/snc retirees organization.

SCS/SNC Retirees

New SoCo Retiree Information Website

Southern Company has created  SoCoRetireeSource.com  to provide you a central hub for information about being a retiree of Southern Company.

Visit today for information about:

  • COVID-19 preparedness
  • Tips on staying active during self-isolation and during retirement
  • Maintaining your financial wellbeing in retirement
  • Key contacts for managing your benefits

From Retiree Source, you’ll be able to link out to the best resources on the web, all curated just for retirees by Southern Company.

Log in at: SoCoRetireeSource.com Password: SoCoRetired

Remember to capitalize the S, C and R in the password.

Retiree Source is all about taking care, staying active, keeping connected and managing your money. We hope you find it a helpful resource.

Southern Company

7 thoughts on “ New SoCo Retiree Information Website ”

This site sure makes it easy to get information. Good job.

Is In Memoriam still being published

Thanks for this valuable information.

I am interested in a trust. Will Southern host any seminars/informative meetings on the subject? Also, a move to another state is under consideration. Will I lose my secondary insurance, BlueCross/Blue Shield of Illinois (HMO)? What options will I then have and at what cost?

Thanks so much for designing this website for all of us who are retired. We appreciate having this website available for our use.

Getting on for the first time. This is a good idea.

nice thing youre doing here tks

Comments are closed.

southern company retirement plan merrill lynch

Company Values

We are bigger than our bottom line because we know that how we do our work is just as important as what we do.

We are bigger than our bottom line because we know that how we do our work is just as important as what we do. We are committed to improving our communities and environment while conducting business with honesty, integrity and fairness.

Our Values guide us to make every decision, every day, in the right way and ensure we put the needs of those we serve at the center of all we do.

Safety cone

Safety First

We actively care about the safety and well-being of our employees, customers and communities. Safely approaching every job, every day, always comes first.

Shield

Intentional Inclusion

We are One Team, working to foster a culture of belonging and ensuring our diverse team feels valued. Investing in an equitable culture benefits employees, customers, communities and shareholders.

Mountain with flag

Act with Integrity

We act with honesty, respect and fairness, demonstrating trustworthiness in all we do. We are true to our word and follow through on our commitments.

Hands shaking

Superior Performance

We keep customers at the center of everything we do, with a focus on continuous improvement. We provide exceptional service, delivering innovative solutions that benefit our customers, communities, investors and the environment.

Valuing and developing employees is one of Southern Company's top five priorities. The people priority states that we will elevate performance in our people and culture through the following ways:

  • Continue to demonstrate Safety First in everything we do
  • Develop leaders and employees at all levels
  • Increase accountability with our performance management efforts
  • Leverage diversity in every aspect of the business
  • Cultivate an innovative culture throughout Southern Company

A stable and highly competent workforce has helped fuel the company's superior performance in reliability, customer satisfaction and shareholder return. Our deep skills and high percentage of long-tenured employees are evidence of our success in providing a desirable workplace with competitive pay and benefits and ongoing career opportunities. People come to Southern Company for a career, not just a job.

Southern Company system employees bring a strong sense of commitment to the job. Results of our most recent employee survey show that 89 percent of the workforce has a high level of engagement, with overall scores above utility and general industry benchmarks.

Southern Company subsidiaries have one of the lowest turnover rates (8 percent in 2016) in an industry that ranks low in employee turnover.

We've joined forces with high schools, technical schools and universities to recruit and prepare students to pursue careers in power generation, power delivery and nuclear energy. In addition, our military recruitment efforts have had a significant impact on our hiring. Veterans, National Guard and reserve members currently comprise approximately 10 percent of our system-wide workforce. Sixteen percent of year-to-date new hires were veterans, National Guard or reservists.

The Southern Company  careers website  offers visitors an impartial way to view and apply for jobs at Southern Company and its subsidiaries, including Alabama Power, Georgia Power,  and Mississippi Power. The site also offers career profiles, videos from real employees and details on benefits.

Types of Talent

Engineering.

Ruler icon for Engineering section - icon is a ruler

Engineering  opportunities are available at our power generating plants, distribution and transmission units, corporate offices and our gas distribution subsidiaries. Engineers are involved in planning, researching, designing, developing, constructing, installing and operating equipment and systems for the delivery of clean, safe, reliable and affordable energy.

Plant Operations

Icon for Plant Operations section - icon is a factory

We operate many  power generating plants  throughout the Southeast. Whether the plant uses water, nuclear or fossil fuels, we rely on highly skilled mechanics, electricians and operators in addition to other specialized professions to keep the power on and costs low.

We operate many  power generating plants  throughout the Southeast. Whether the plant uses water, nuclear or fossil fuels, we rely on highly skilled mechanics, electricians and operators in addition to other specialized professions to keep the power on and costs low.

Gas Operations

Gas icon for Gas Operations section - icon is a gas light

We are looking for future leaders of our company to begin a career in  gas operations . Our gas distribution business has exciting career opportunities across the United States. Designing, building and maintaining the natural gas distribution system in our markets is key to safely delivering clean, efficient natural gas to nearly 4.5 million customers.

We are looking for future leaders of our company to begin a career in  gas operations . Our gas distribution business has exciting career opportunities across the United States. Designing, building and maintaining the natural gas distribution system in our markets is key to safely delivering clean, efficient natural gas to nearly 4.5 million customers.

Icon for Nuclear section - Icon is an atom graphic

Work for the nation’s leader in  nuclear  energy and an innovator in advanced nuclear technologies. Southern Company operates six units in Al. and Ga. For more than 40 years, Southern Nuclear has operated its nuclear facilities at the highest levels of reliability.

Information Technology

Icon for Information Technology section - icon is a cloud graphic

We are committed to creating a technology ecosystem that propels our company’s vision of building the future of energy. We apply technical skills and collaborative thinking to develop novel solutions to the business challenges of today and tomorrow. Join our team of 1,500+  IT experts  and experience a fulfilling career that’s important, necessary and offers its share of fun and camaraderie.

Professional

Icon for Professional section - icon is a briefcase graphic

A stable work environment that offers competitive pay and benefits? A culture that values diversity, inclusion, and teamwork? The chance to make a difference every day? Working at Southern Company and its affiliates provides all of the above.

Internships/Co-Ops

Icon for Internships section - icon is a graduation cap graphic

Students  play a big role in how we build the future of energy, because they are our future.

Benefits at Southern Company 

Employee working with headset at desk

Compensations and Benefits

Southern Company offers competitive compensation and benefits programs that both attract new employees and retain tenured employees. Programs include a comprehensive compensation package, including base salary, short- and long-term variable pay, pension and savings plans, and health care and wellness programs.

Our pay program is designed to compensate employees at competitive levels. Base salary is the foundation of the company's compensation program and is dependent on job classification, market pay levels and individual performance. Variable pay is designed to reward employees for achieving company, business unit and individual goals.

We offer a wide variety of market-competitive benefit choices to employees and their families. These include healthcare and wellness programs and a comprehensive retirement program consisting of a pension and savings plan.

Southern Company provides comprehensive health insurance to all benefit-eligible employees and their families. Southern LifeStyle  is an enhanced health and wellness program, available to employees and their spouses as part of the medical plan. Some of the features of the program include:

  • Lifestyle and disease management programs to assist employees and their spouses in managing their health risks or chronic health conditions. Company-paid health and lab profiles have led to numerous preventive diagnoses, some potentially life-saving.
  • Work-site fitness facilities are available at various company locations.
  • The Southern LifeStyle  wellness website which provides current information on various health topics health resources and wellness initiatives.

The company helps employees prepare for retirement by offering several retirement plans. Southern Company offers a defined benefit pension plan designed to provide employees with a monthly retirement annuity. The amount is based in large part on an employee's earnings and length of service. Southern Company also offers a savings plan that enables employees to contribute a portion of their pay to a before-tax account, a traditional after-tax account, a Roth 401(k) account, or a combination of the three. The company currently matches 85 percent on the first 6 percent of base pay an employee contributes.

Employees within the Southern Company system may be called upon to serve during and after catastrophic storms. Family Services provides assistance to employees who incur significant damage to personal property as a result of a widespread disaster impacting business continuity. Employees and their families are not left alone to face lives turned upside down by catastrophe.

Growth Opportunities

We strive to provide employees with opportunities to learn, grow and advance in their careers, including on-the-job training and development. In 2016, we completed 295 employee transfers between subsidiaries, providing opportunities for employees to expand their knowledge of our industry and business operations. A total of 518 employees were promoted to first-time supervisory roles. More recently, Southern Company was recognized as the top-ranked company in America in DiversityInc's 2017 ranking of "Top 10 Companies for Opportunity."

Southern Company also offers online and classroom resources, including an online portal called "Power U" that is designed to help educate employees on business fundamentals and our strategic priorities.

Two employees stand over desk, discussing work on computer

In addition to expanding wellness benefits, Southern Company subsidiary Georgia Power has opened two child care centers. The Bright Generations centers build the kind of workplace it takes to attract and retain the best employees. The centers offer employee families in need of child care away from the home an accredited program with a sound instructional component and nurturing environment.

The child care facilities add to wellness benefits that include a new fitness center, as well as free health monitoring and disease prevention services on-site.

Community and Kids

Our Community

Windmills in a prairie

Sustainability

Southern Company employee working on a power grid

Benefits Online Admin Login

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I’m 65 With $1.2 Million in an IRA. I’ll Get a $2,900 Monthly Social Security Benefit. What’s My Retirement Budget?

southern company retirement plan merrill lynch

As you approach retirement, your financial focus shifts.

During your working life, retirement is about goals and planning. You decide what kind of lifestyle you want, figure out what kind of income will support that spending, then build a savings and investment plan to reach those goals. That should be your retirement approach at age 25, 35 or 45.

In your 60’s, though, the accumulation stage is largely over. You have your retirement portfolio in place, with some room left for growth, and now it’s about managing and budgeting that wealth. What kind of life can you live based on what you’ve saved up?

For example, say that you’re an individual at age 65. You have $1.2 million in your pre-tax IRA and an expected $2,900 per month in Social Security benefits . What is your retirement budget?

Here are some things to consider. Otherwise, a financial advisor can help you build an effective retirement plan.

Income and Portfolio Management

First, you need to figure out what kind of income your savings can reliably generate. That will depend on a handful of circumstances. 

Let’s assume that you intend to retire at full retirement age of 67, to receive full Social Security benefits. That means you can start with an expected $34,800 per year of income ($2,900 * 12). 

It also means that you can plan for two more years of growth in your IRA. The exact numbers will depend entirely on your investment strategy, but let’s say that you have your entire IRA invested in one of three benchmarks. Depending on market activity, at age 67 you might retire with:

  • Corporate bonds, average return 5% – $1.32 million
  • Mixed portfolio, average return 8% – $1.4 million
  • S&P 500 index fund, average return 10% – $1.45 million 

For the purposes of this article we’ll assume middle of the road results and a retirement at age 67, so a $1.4 million IRA. From there, you could build a number of different income profiles. Three very different options might include:

  • 4% Withdrawals – Combined income $90,800 At your most conservative, you might assume the 4% withdrawal strategy. Here, you invest for low-growth, high-security assets, withdrawing about 4% of inflation-adjusted income each year for 25 years. That could give you about $56,000 per year from your IRA ($1.4 million * 0.04). With Social Security, you can expect about $90,800 of inflation-adjusted combined income. This is relatively low-growth, but much higher security.
  • Aggressive market returns – Combined income $174,800 Or you could go the opposite direction entirely. Let’s say you invest the entire IRA in an S&P 500 fund and take out each year’s returns as income. At the market’s average 10% annual rate of return, that might give you about $140,000 per year of portfolio income for a combined income of $174,800.  But that income would be incredibly volatile. Most years you will collect either significantly more, significantly less, or nothing at all. This is an unpredictable approach to retirement. Without a very good plan to manage the down years, you can easily find yourself spending a year living off Social Security alone while waiting out a bear market. 
  • Annuity income – Combined income $147,180 Annuities are contracts that promise you a fixed income for life in exchange for an up-front purchase price. They have significant upside, in that annuities can offer relatively high payments and significant security. The major downside is that they generally do not adjust for inflation. Over a long retirement, the value of that contract can drop by as much as half. For example, here a representative annuity might generate $112,380 per year for a combined income of $147,180 at age 67, but only the Social Security payments would be inflation indexed.

A financial advisor can help you make projections for various scenarios and weigh your options for retirement income.

Tax Management

Since you have an IRA, all of your income calculations will be pre-tax. This will involve two tax rates: income taxes and Social Security benefit taxes.

While a full discussion of the issue is beyond the scope of this article, Social Security benefits are taxable based on your total income. In this case, you will likely add about 85% of your benefits ($29,580) to your taxable income and will not pay taxes on the remaining 15% ($5,220).

Beyond that, any income from your IRA-based portfolio will be taxed at the rate of ordinary income. However, you will only pay income taxes, not FICA taxes.

As an alternative, you could plan for a Roth IRA conversion .

With this approach, you would roll your entire pre-tax IRA into a post-tax Roth IRA. The advantage is that you would not pay taxes on any future gains or withdrawals from this portfolio, and you’d be able to avoid required minimum distributions (RMDs, more below). The disadvantage is that you would pay taxes on the entire value of the conversion at the time you made it, and you’d have to wait five years before withdrawing any gains without facing a penalty.

Required Minimum Distributions

If you don’t opt for a Roth conversion, your budget must account for required minimum distributions (RMDs). This is the amount that the IRS requires you to withdraw from any pre-tax portfolio each year starting at age 73. The amount is based on your current age and your portfolio’s value. 

Many households will never have to actively plan for RMD requirements, since they are often less than the typical individual’s income needs. For example, say that you take the 4% withdrawal strategy. By age 73, your RMD requirement will likely be around $40,150 per year, significantly less than your planned withdrawals.

However it’s important to at least be aware of this requirement. That’s particularly true for households with multiple retirement portfolios, since you cannot simply spend one down and leave the other in place.

A financial advisor can help you determine the most tax-effective strategy for your RMDs.

Long-Term Concerns

Finally, your budget should incorporate some of the long-term issues that retirees must anticipate. First, remember to budget for health care needs. While Medicare will pay for much of your health care, you should at least anticipate gap insurance and long-term care insurance to cover possible medical concerns that Medicare doesn’t pay for.

Then there is inflation. At the Federal Reserve’s benchmark 2% rate, a household can expect their spending power to halve roughly every 30 to 35 years. As retirements get longer, you can start pushing that boundary, so make sure your retirement budget anticipates inflation. This is particularly true for the high-security, low-growth assets common to a retiree’s portfolio, which often must be mixed with at least some growth-oriented assets to properly adjust for inflation.

This is a particularly urgent issue for households in high-cost areas. While 2% is the benchmark inflation rate, costs increase much more quickly in urban areas and other expensive communities. If you rent, in particular, be aware that costs for renters have historically outpaced inflation by a fairly wide margin. Make sure your budget anticipates this.

A financial advisor can help you build a personalized retirement plan based on your specific circumstances. Get matched with a financial advisor for free.

The Bottom Line

For an individual with $1.2 million in an IRA by age 65, your retirement budget can be relatively comfortable. While this will require careful tax and investment management, this profile could have several options.

The Unique Burial of a Child of Early Scythian Time at the Cemetery of Saryg-Bulun (Tuva)

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Pages:  379-406

In 1988, the Tuvan Archaeological Expedition (led by M. E. Kilunovskaya and V. A. Semenov) discovered a unique burial of the early Iron Age at Saryg-Bulun in Central Tuva. There are two burial mounds of the Aldy-Bel culture dated by 7th century BC. Within the barrows, which adjoined one another, forming a figure-of-eight, there were discovered 7 burials, from which a representative collection of artifacts was recovered. Burial 5 was the most unique, it was found in a coffin made of a larch trunk, with a tightly closed lid. Due to the preservative properties of larch and lack of air access, the coffin contained a well-preserved mummy of a child with an accompanying set of grave goods. The interred individual retained the skin on his face and had a leather headdress painted with red pigment and a coat, sewn from jerboa fur. The coat was belted with a leather belt with bronze ornaments and buckles. Besides that, a leather quiver with arrows with the shafts decorated with painted ornaments, fully preserved battle pick and a bow were buried in the coffin. Unexpectedly, the full-genomic analysis, showed that the individual was female. This fact opens a new aspect in the study of the social history of the Scythian society and perhaps brings us back to the myth of the Amazons, discussed by Herodotus. Of course, this discovery is unique in its preservation for the Scythian culture of Tuva and requires careful study and conservation.

Keywords: Tuva, Early Iron Age, early Scythian period, Aldy-Bel culture, barrow, burial in the coffin, mummy, full genome sequencing, aDNA

Information about authors: Marina Kilunovskaya (Saint Petersburg, Russian Federation). Candidate of Historical Sciences. Institute for the History of Material Culture of the Russian Academy of Sciences. Dvortsovaya Emb., 18, Saint Petersburg, 191186, Russian Federation E-mail: [email protected] Vladimir Semenov (Saint Petersburg, Russian Federation). Candidate of Historical Sciences. Institute for the History of Material Culture of the Russian Academy of Sciences. Dvortsovaya Emb., 18, Saint Petersburg, 191186, Russian Federation E-mail: [email protected] Varvara Busova  (Moscow, Russian Federation).  (Saint Petersburg, Russian Federation). Institute for the History of Material Culture of the Russian Academy of Sciences.  Dvortsovaya Emb., 18, Saint Petersburg, 191186, Russian Federation E-mail:  [email protected] Kharis Mustafin  (Moscow, Russian Federation). Candidate of Technical Sciences. Moscow Institute of Physics and Technology.  Institutsky Lane, 9, Dolgoprudny, 141701, Moscow Oblast, Russian Federation E-mail:  [email protected] Irina Alborova  (Moscow, Russian Federation). Candidate of Biological Sciences. Moscow Institute of Physics and Technology.  Institutsky Lane, 9, Dolgoprudny, 141701, Moscow Oblast, Russian Federation E-mail:  [email protected] Alina Matzvai  (Moscow, Russian Federation). Moscow Institute of Physics and Technology.  Institutsky Lane, 9, Dolgoprudny, 141701, Moscow Oblast, Russian Federation E-mail:  [email protected]

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