| Standard Name: | Retirement |
|---|---|
| Scope: | All Staff |
| Revision Date: | June 1, 2016 |
| Last Review Date: | June 7, 2023 |
Reliant will automatically enroll you in the 401(k) plan starting at $50 per month, and deposit it into a 401(k) retirement savings account with the Principal Financial Group. On the next corresponding quarterly enrollment date after your one-year anniversary (see table below), Reliant will enroll you on the Principal website and send you an enrollment email confirmation with further instructions. If you were hired Then your enrollment And will be deducted Once you receive your enrollment confirmation from Principal, please follow these instructions to set-up your account, establish a username and password, etc. Changes made on the Principal website to your 401(k) account by the 19th of a month will be reflected on your next payroll. Auto-enrollment - $10 Annual Increase If you do not make any changes to your investments, contribution rate(s), or take any other actions to manage your 401(k) account with Principal, Reliant will automatically increase your auto-enrollment each year. Each year starting with the January 15th paycheck, if you have not made any changes to the auto-enrollment, you'll see the auto-enrollment contribution raised by $10. You have the option to change your contribution rate at any time if you do not want the auto-increase to be in effect. (See Changes to Contributions for how to change your contribution.) Traditional vs. Roth ContributionsAfter one year of service with Reliant, you will be eligible to participate in the 401(k) plan.
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starting with this payroll...January 2 - April 1st April 1st April 15th April 2nd - July 1st July 1st July 15th July 2nd - October 1st October 1st October 15th October 2nd - January 1 January 1st January 15th For more information to help you get started and understand Reliant's 401(k) Plan see these helpful links:
