401(k) Enrollment

401k plan participation is effective the first of the month following 30 days of service from your hire date or as soon as administratively feasible following the wait period.  

Our 401(k) is administered by Principal and offers you a choice in the type of 401(k) to save in. Employees can contribute to both a Traditional 401(k) and a ROTH 401(k).  

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If you contribute up to 5%, the credit union will contribute up to 5% on your behalf.  Once you have participated in the plan for 5 years, if you contribute up to 5%, the credit union will contribute up to 11% on your behalf!  

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​An enrollment email and instructions will be sent to all new hires following your first day of enrollment. 

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If you wish to make any changes to your 401(k) contributions, we encourage you to submit your 401(k) deferral changes on Principal no later than Thursday at 4pm CST of the week prior to the pay date.

For example, if you wish to have your contribution increase to 6% Roth for the May 15th paycheck, the change will need to be submitted on Principal by May 7th at 4pm for it to be communicated in time for payroll processing.

If you have questions regarding which paycheck the changes will be reflected on, please reach out to Payroll.

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For a quick summary on our retirement plan, please view the outline of the Summary Plan Description. 

We understand that retirement planning can be difficult.  If you have any questions about enrollment or need assistance with the enrollment steps, please call Principal at 800-547-7754 and follow the prompts to speak to a retirement specialist.

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If you need assistance determining which investments are best for you, please click on the Investment Advice page for contact information for CAPTRUST.

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