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What is a 401k?
A 401(k) plan is a retirement saving plan offered by employers for their employees.
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Many 401(k) plans have a matching incentive where an employer will match funds that their employees contribute to the 401(k) plan. The matching incentive is designed to motivate employees to contribute funds to the retirement savings plan. |
Getting Started Saving for Retirement
After 1 year of service with Reliant, you’ll be automatically enrolled in the 401(k) retirement savings plan.
Reliant will auto-enroll you in the 401(k) plan starting at $50/month on the next corresponding quarterly enrollment date after your one-year anniversary date as a Reliant employee. We will deduct $50 from your paycheck and deposit it into a 401(k) retirement savings account with the Principal Financial Group.
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You will have the option to log on to Principal.com and change your contribution amount at any time.
“Ineligible” earnings such as your ministry expense bonus, taxable reimbursements, and wages earned prior to your 401 (k) plan entry date are not eligible for the 5% employer match.
