Safety, Quality, Integrity

We Encourage Employees to Join our 401K plan!

Fri, July 21, 2017

We Encourage Employees to Join our 401K plan!

401(k) Plan

You can now join our 401(k) plan at any time.

The process is simple. You must first fill out an enrollment form and beneficiary designation and return them to the office (Call Amy Calvin to request the forms). We will forward the enrollment form to Putnam and within about 1 week you can use the online resources to establish your deferral. Go to www.ibenefitscenter.com and enter the last 4 digits of your Social Security number as your login name and use the month and date of your birth as the password (for example, if the day of your birth is September 9, the appropriate password is 0909). You will then select the amount, as a percentage of your wages, which you would like to defer and that amount will be deducted from your check and placed into the investment of your choice. If you have difficulty logging in, you can call (877) 888-4015 and a Putnam representative will guide you through the process.

401(k) Match

Specific investments have different levels of risk, but there is one return that is guaranteed – the 401(k) match. Corey Delta will match 100% of the first 4% of your annual wages, provided you defer at least 4%. For a person earning $50,000 and deferring 4% ($2,000) of their own money, Corey Delta will deposit an additional $2,000 into that employee’s 401(k) account. That’s a 100% return on your investment.

401(k) Deferral Limits for 2009

For plan participants aged 49 and below, you can defer up to $16,500 of your 2009 income.

For plan participants aged 50 and above, you can defer up to $22,000 of your 2009 income.

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