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The 401(k) Lowdown: Everything You Need to Know
Eligibility
- Age 18 with 6 Months of Service
*Excluded Employees: Collective Bargaining (union) Employees & Part-time/Temporary/Seasonal Employees Working Less Than 1,000 Hours
Plan Entry Dates
Quarterly
Vesting
- Safe Harbor Match: 100%
- Profit Sharing Contribution: 3 Year Cliff (1,000 hours in plan year)
In-Service Distributions
Employer Contributions
$1 per $1 up to 4% Safe Harbor Match (4% max)
Loans
- Age 59 1/2 - All Contributions
- Hardship - 100% Vested Sources Only
- Rollover Sources (at any time)
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
October
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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