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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
Quarterly
Vesting
6-year graded (1,000 hours Plan Year)
*Exclude years of service prior to age 18 & prior to plan establishment
Automatic Enrollment Rate
3% Roth
In-Service Distributions
- 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
Employer Contributions
Up to 6% Discretionary Match, Discretionary Nonelective, and 3% Safe Harbor (Maybe)
Auto-Increase Program
Yes, 1% up to 10%
Loans
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
With Valley Oak
Your Plan Advisor
Matt Rzepka
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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