The 401(k) Lowdown: Everything You Need to Know
Eligibility
- Deferrals: Age 18 with 60 days
- Matching, Safe Harbor & Nonelective: Age 18 with 1 year of service (1,000 hours in plan year)
*Excluded Employees: Collective Bargaining (union) Employees and Non-resident Aliens
Plan Entry Dates
- Elective Deferrals - Monthly
- Matching, Safe Harbor & Additional Nonelective Profit Sharing Contribution - January 1st & July 1st
Vesting
- Safe Harbor - 100%
- Matching & Additional Nonelective Profit Sharing Contribution - 6 Year Graded (1,000 hours in plan year)
Automatic Enrollment Rate
3% Roth
In-Service Distributions
- Age 62 - All Contributions
- Hardship - Elective Deferrals, Matching, and Nonelective
Employer Contributions
$0.25 per $1.00 up to 4% Matching, 3% Safe Harbor Nonelective
Auto-Increase Program
Yes, 1% up to 10%
Loans
Hardship (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
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:
