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The 401(k) Lowdown: Everything You Need to Know
Eligibility
- Age 21 & 1 Year of Service (1,000 hours in a plan year)
*Excludes collective bargaining (union) employees
Plan Entry Dates
Quarterly
Vesting
- Safe Harbor Matching: 100%
- Profit Sharing: 6 Year Graded (1,000 hours in plan year)
Automatic Enrollment Rate
3% Pre-tax
In-Service Distributions
Employer Contributions
$1.00 per $1.00 up to 3% and $.50 per $1.00 from 3-5% Safe Harbor Match
Loans
Auto-Increase Program
Yes, 1% up to 10%
- Age 59 1/2, Disability, and Deemed Severance Distribution - All Contributions
- Hardship - Elective Deferrals, Matching, and Nonelective
- Qualified Reservist Distribution - Elective Deferrals
Any Purpose (2)
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
April
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
July
Enrollment Meeting Month
Bi-Weekly Educational Emails
TBD
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