The 401(k) Lowdown: Everything You Need to Know
Eligibility
- Age 21 with 1 Year of Service (1,000 hours in plan year)
*Excluded Employees: Collective Bargaining (union) Employees
Plan Entry Dates
Quarterly
Vesting
- Safe Harbor: 100%
- Discretionary Match & Discretionary Nonelective: 6 Year Graded (1,000 hours in plan year)
Automatic Enrollment Rate
3% Roth
In-Service Distributions
Employer Contributions
Up to 6% Discretionary Match, Discretionary Nonelective, and 3% Safe Harbor (Maybe)
Loans
Auto-Increase Program
Yes, 1% up to 10%
- Age 59 1/2 - All Contributions
- Hardship - Elective Deferrals, Matching, and Nonelective
*Can not be less than $500 and no more than 2 per year
Hardship (1)
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 Valley Oak
Your Plan Advisor
Matt Rzepka
What they can help with:
-
Investment questions such as
-
Allocation choice​
-
Deferral amount
-
Investment risk
-
-
Financial plan creation
-
Retirement and legacy planning
Phone:
Email:
Your Employees, Always in the Know!
Market Update Month
N/A - with Valley Oak
Enrollment Meeting Month
Bi-Weekly Educational Emails
N/A - with Valley Oak