Alcoa Retirement Savings Plan


"Knowing what you know now, what would you have done differently to prepare for retirement while you were still working?"


Current retirees responding to this survey question expressed these regrets:

  • Not making the most of their employer's 401(k) plan
  • Not enrolling in a retirement savings plan early enough
  • Not making a financial plan for saving for retirement early enough in their working life
  • Not saving the maximum amount allowed

The Alcoa Retirement Savings Plan is a 401(k) plan that allows you to save and invest for a more secure retirement. The plan offers a variety of investment options and the ability to save on a pre-tax and/or after-tax basis.


Plan Highlights


Employee contributions

  • You can save up to 25% of your eligible earnings.
  • Up to 25% of eligible earnings on a pre-tax basis, up to the IRS limit of $18,000 (for 2016).
  • Up to 10% of eligible earnings on an after-tax basis.
  • Your combined pre- and after-tax contributions cannot exceed 25% in total.


Company matching contributions

  • Depending on your work location, Alcoa may match a portion of every pre-tax dollar you contribute each pay period, up to 6 percent of eligible earnings.
  • Company matching contributions (including discretionary contributions and Employer Retirement Income Contributions [ERIC]) are immediately vested.


Catch-up contributions for employees 50 and older

You must contribute at least 6% of eligible earnings pre-tax before you can make a catch-up contribution of up to $6,000 (the IRS limit for catch-up contributions).



  • A $100 loan processing fee will be deducted from the loan amount requested to cover administrative costs. For example, if you request a loan of $1,000, you will receive a net amount of $900 after deduction of the $100 fee.
  • Company matching contributions made on or after January 1, 2011, are not available for loans.


Withdrawals while you work for Alcoa

Before age 59 ½: You can withdraw company matching contributions made prior to January 1, 2011 if you have participated in the plan for at least three years. Company matching contributions made on or after January 1, 2011 are not available for withdrawal.


After age 59 ½: Withdrawals of any funds in the plan are available without restrictions.


Expense ratios

Administrative expenses are evenly charged across all investment options.


Your plan statement shows expense ratios broken out by the portion that covers investment management expenses (such as fees for portfolio managers) and the portion that covers administrative expenses (record keeping, trustees, daily fund valuation, etc.)

See the Alcoa Savings Plan Summary Plan Description (SPD) on UPoint website for complete details.