- Vanguard will distribute enrollment packets to anyone who is newly eligible. Instructions on how to enroll are included.
- For employees eligible but not previously enrolled, distribute an email with the enrollment instructions, waiver and website.
- Once employee enrolls, we receive a confirmation to begin payroll deductions.
- Changes can be made at any time.
- Employees can stop contributing at any time, and begin again at any time. Once eligible, always eligible.
- If an employee takes a hardship withdrawal, contributions must be suspended for 6 months.
Email Template:
The Advantus Corp. 401(k) plan rewards eligible employees for long and loyal service by providing them with retirement benefits. All employees who have 6 months of service and are 21 years of age or older are eligible to participate.
Enrollments in the 401(k) plan are held each January and July for new employees as well as employees who have not yet participated in the plan.
Advantus will match 100% of your contribution up to 3%, and 50% for the next 2%. For example, if your gross pay is $100.00, then:
Because the contributions are made with pre-tax dollars, it may reduce your federal income tax withholding, reducing the amount of tax paid out of each paycheck. A great tool to help calculate your pay after your 401k contribution can be found at http://www.paycheckcity.com/coadp2/401kcalculator.asp .
To enroll, navigate to www.my.vanguardplan.com and click on Get Started
Enrollments must be completed by December 31, 2022. Please be sure to designate a beneficiary at the time of enrollment. For those of you newly eligible, in addition to this email, you should have received a welcome packet within the last two weeks.
If you elect not to participate, the enclosed waiver needs completed and returned to me by December 31, 2022
Please feel free to contact me with any questions.
Thanks,
Katie
Waiver attached to email:
