The 401(k) Lowdown: Everything You Need to Know
Eligibility
- Age 21 - All Contributions
- 3 Months of Service - Elective Deferrals & Matching
- 1 Year of Service (1,000 hours in plan year) - Safe Harbor & Profit Sharing
Plan Entry Dates
- Elective Deferrals & Matching - Monthly
- Safe Harbor & Additional Nonelective Profit Sharing Contribution - January 1st & July 1st
Vesting
- Safe Harbor - 100%
- Matching & Additional Nonelective Profit Sharing Contribution - 6 Year Graded (1,000 hours in plan year)
Automatic Enrollment Rate
3% Roth
In-Service Distributions
Employer Contributions
$0.25 per $1.00 up to 4% Matching, 3% Safe Harbor Nonelective
Loans
Auto-Increase Program
Yes, 1% up to 10%
- Age 59 1/2 - All Contributions
- Hardship - Elective Deferrals, Matching, and Profit Sharing ($1,000 minimum)
Hardship (1) - $1,000 minimum
You Ask, We Answer: Payroll Streamlined
How do I upload payroll?
How do I delete a duplicate payroll?
How do I change employee status information?
Let’s Stay in Sync:
How We Keep the Conversation Going!
Trustee Review Month
Periodic Check-In Calls
Monthly Educational Emails
August
Your Plan Advisor
Jim Gasaway
What they can help with:
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Investment questions such as
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Allocation choice​
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Deferral amount
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Investment risk
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Financial plan creation
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Retirement and legacy planning
Phone:
860-777-4015
Email:
Your Employees, Always in the Know!
Market Update Month
May
Enrollment Meeting Month
Bi-Weekly Educational Emails
TBD