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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
January 1st & July 1st
Vesting
- Safe Harbor - 100%
- 6 Year Graded (1,000 hours in plan year)
Automatic Enrollment Rate
3% Pre-tax
In-Service Distributions
- Age 65 - All Contributions
- Hardship - Elective Deferrals & Nonelective
Employer Contributions
3% Safe Harbor & Discretionary Nonelective (pays 3% at year end)
Auto-Increase Program
Yes, 1% up to 10%
Loans
None
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
With LVM Capital Management
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:
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