Page History
| Panel |
|---|
What to Know. Our 401k investments are moving to the Target Trust Funds with lower fees and better performance over the last five years. |
Once a year the IRS requires that we remind our staff of all the great features provided to you in Reliant's 401(k) plan. This Every year we have some exciting news. After careful consideration and discussion with our provide you with the Safe Harbor Employee Notice. This notice highlights the benefits and details of Reliant’s 401(k) Broker, the Reliant Plan.
The 401(k) Investment Committee has decided to change our 401(k) Plan default investment from The Principal Lifetime Funds to the Principal Trust Target Funds.
These Trust Target funds have lower service fees due to the fact that they are Index funds (we save on fees because the funds don't have to pay investment advisors to actively manage the investment portfolios). The performance of the Target Trust funds has been comparable to the Principal Lifetime Funds. In fact, the Target Trust Funds have slightly outperformed the Principal Lifetime Funds performance average over the last 5 years.
This investment change will affect the 401(k) investment accounts of many Reliant missionaries. With this change, all existing 401(k) account balances that were previously invested in the Principal Lifetime Funds will be moved into to the Principal Trust Target Funds. The Reliant 401(k) Investment Committee believes this change is for the benefit of missionaries, as the new investments have a better 5 year performance track record and they cost less - which will hopefully mean your 401(k) account balances will thrive even more with this change.
In addition, every year we provide you with the attached Safe Harbor employee notice. This notice highlights the benefits and details of Reliant’s 401(k) Plan. You can also find this notice on the 401K forms page of Staffnet. As always, the Reliant Finance dept is available year-round to assist you with any 401(k) questions - email us at 401k@reliant.org or call 407-671-9700 ext 130.
Resources
Retirement Plan section of Solomon contains links to resources and helpful articles to help you prepare for retirement. However, if you would prefer to receive a paper copy of our Summary Plan Description - please email us as benefits@reliant.org and we can mail you a copy at any time.
The Reliant 401(k) Investment Committee encourages all 401(k) participants to log in to their Principal retirement savings accounts and make changes based on their preferences and retirement goals on an annual basis, at a minimum.
