Coronavirus-related distribution option
As allowed under the CARES Act, if you or your family are impacted by COVID-19, you were eligible to take a special distribution(s) from your vested Discover Financial Services 401(k) balance before December 31, 2020.
Visit myHR for more details.
Perks at Work discount program
Save on groceries, apparel, electronics, entertainment, take-out and delivery services, and more from 30,000+ merchants nationwide. You’ll also earn points for future purchases. Start shopping at perksatwork.com/discover.
Talk privately to a licensed attorney about family law, landlord disputes, tax and bankruptcy worries, identity theft and more. You get a free 30-minute consultation, a 25% discount if you retain a lawyer and access to free online legal information such as common forms and will kits. Learn more here.
401(k) loans and hardship withdrawals
You can request to borrow money from your Discover 401(k) account and pay it back with interest through payroll deductions. You can only have one loan at a time and must wait 12 months between loans.
If you have an immediate and heavy financial need, you can request a hardship withdrawal, per the plan terms. Income tax will apply, and a 10% penalty for early withdrawal might apply, too.
For information about the Discover 401(k) Plan, go to myHR > Savings & Retirement or call 844-337-6947 (844-DFS-myHR).
WageWorks commuter benefits
Go here for the latest information on how WageWorks is handling unusable commuter passes and adjusting services in response to Covid-19. Log in to your account to change your pending elections by the deadline and call 877-924-3967 (877-Wageworks) if you need assistance.