These are salary reduction retirement plans. Once an employer adopts a retirement plan, eligible employees may choose to make contributions out of their pay and potentially receive contributions made by the employer on their behalf.

Upon meeting the eligibility requirements, you may join the plan as described in the Summary Plan Description.

Through payroll deduction, you can make pre-tax contributions and in some cases Roth (post-tax) contributions. After completing the Enrollment Form the amount is automatically deducted from your paycheck. See the Summary Plan Description for specifics.

 

An internal Revenue Service (IRS) dollar limit applies. Also, special limitations may apply to employees designated as "highly compensated". For additional information requiring the type and amount of compensation that may be contributed under the plan, refer to the compensation and account balance section of the Summary Plan Description.

 

You may begin contributing on your entry date and as of each period specified by the plan.

If you have an existing qualified retirement plan account with a prior employer or an IRA, you may rollover all or some of that account into the plan. To initiate a rollover, complete and return to your Plan Administrator the Rollover Request Form located on the Forms menu above.

Your employer may make Profit Sharing and Employer Match contributions at their discretion. Employer matching contributions are based on the amount you contribute. For more information, refer to the Summary Plan Description for current details regarding your plan.

Vesting refers to your "ownership" of a benefit from the plan.
You are always 100% vested in the following sources, plus any earnings they generate:

• Rollover
• Your contributions

You will earn ownership rights to Profit Sharing and Employer Match contributions to the plan, plus earnings they generate. See the Summary Plan Description for your vesting schedule.

You decide on how you would like your plan contributions allocated. You simply select the investment option(s) available and the percentage.

No more than 15 days after being withdrawn from your paychecks.

Plan contributions and any earnings on your contributions are not subject to income taxes until you withdraw the funds (assuming it is a non-ROTH contribution). Participation in a retirement plan does not reduce your Social Security benefits.

You may stop or begin your salary deferral for retirement plan contributions anytime with advance notice (subject to Employer Plan Document - contact your plan administrator).

	Employee Deferral Contribution Limit	“Catch-up” Contributions for Workers 50+	Total Contribution Limit (with catch-up)
2012	$17,000	$5,500	$22,500

Yes. See the Summary Plan Description for withdrawal options.

 

Distributions are usually subject to restrictions and generally may not be distributed prior to age 59½.

For more specific information, contact your tax advisor.

If you have an immediate financial need created by severe hardship and you lack other available resources to meet that need, you may be eligible to receive a hardship withdrawal from your account.

 

If you feel you are facing a financial hardship, you should see your Plan Administrator and/or see the Summary Plan Description for more details about the options available under your plan.

You’ll automatically receive statements quarterly and have access to your account online 24 hours a day, seven days a week. You are able to print a statement on demand for any period you select.

Permits retirement plans to transfer the responsibility and the liability - for selecting among the investment options in a 401(k) plan to participants if:

• The Participant actually directs the investment of his or her account, and
• The plan satisfies the requirements of the 404(c) regulations.

The above highlights are only a brief overview of the plan's features and are not a legally binding document. More detailed information is available in the Summary Plan Description. Please read it carefully and contact your Plan Administrator if you have any further questions.