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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 and Non-resident Aliens
Plan Entry Dates
January 1st & July 1st
Vesting
- 6 Year Graded (1,000 hours plan year) – Nonelective & Additional Matching
- 100% vested upon death or disability
Automatic Enrollment Rate
3% Roth
In-Service Distributions
Hardship - Elective Deferrals, Matching, and Nonelective
Employer Contributions
$0.25 per $1 up to 4% Match & 3% Safe Harbor Nonelective (Maybe)
Auto-Increase Program
Yes, 1% up to 10%
Loans
Hardship (1) - $1,000 minimum
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 Beyond Financial Planning
Your Plan Advisor
Greg Hardy
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:
(269) 492-6984
Email:
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