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The 401(k) Lowdown: Everything You Need to Know
Eligibility
- Deferrals & Match: Age 21
- Nonelective & Safe Harbor: Age 21 with 1 year of service (1,000 hours in plan year)
*Excluded Employees: Collective Bargaining (union) Employees & Part-time Employees working less than 1,000 hours
Plan Entry Dates
Immediate for all types
Vesting
- Safe Harbor: 100%
- Matching & Nonelective: 3 Year Cliff (1,000 hours in plan year)
In-Service Distributions
Employer Contributions
$0.50 per $1.00 up to 8% Matching, Discretionary Nonelective, 3% Safe Harbor (Maybe)
Loans
- Age 59 1/2 - All Contributions
- Hardship - Elective Deferrals, Matching, and Nonelective
Hardship (3)
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
N/A - with LVM
Your Plan Advisor
Chuck Prudhomme
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:
Email:
Your Employees, Always in the Know!
Market Update Month
June
Enrollment Meeting Month
Bi-Weekly Educational Emails
TBD
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