Welcome to PlanConnect

Transcription

1 Welcome to PlanConnect Your plan sponsor,, selected PlanConnect, the new standard in plan administration, as third party administrator for their retirement plan. We are excited to begin working with you. Below is information to help you get started. Who Is Eligible You are eligible to participate in your employer s 403(b) plan if you are a full-time or part-time employee. You may not be eligible to participate in your employer s 403(b) plan if any of the following apply. For further information regarding the eligibility provisions under your employer s plan, please contact PlanConnect using the contact information provided below. You will contribute $200 annually or less. You are a non-resident alien. You normally work less than 20 hours per week and are either not expected to work 1,000 hours or more during your first year of employment, or have worked less than 1,000 hours in the prior calendar year. You are eligible to participate in any other 403(b), 401(k), or governmental 457(b) plan we sponsor. If you are a student performing services for a school, college, or university described in Section 3121(b)10 of the Internal Revenue Code. You are a leased employee or an independent contractor. Enrolling in the Plan Why should I enroll? Whether you are just starting your career or nearing retirement, it is always a good idea to save. Your employer s 403(b) plan is a great way to do it. You can log on to the PlanConnect website, to explore your employer s retirement plan. The site includes balance information, tips on how you can maximize your retirement savings, and calculators to let you know how you re doing right now, or what you may need to do in the future to reach your goals. To access secure information you will need to log into your online account. The default user ID is your Social Security Number ( ) and the password is your date of birth (mmddyyyy). You may change your user ID and password at any point after your initial login. Are you already enrolled? If you are already making contribution under your employer s plan, you do not need to enroll through PlanConnect.

2 When can I enroll? You can enroll in your employer s plan at any time. How do I enroll? To enroll online select Log into Your Account via Then use your Social Security Number as the User ID and Date of Birth (mmddyyyy) as the Password. If you prefer, you can complete a Salary Reduction Agreement. In either case, if you do not already have an account under the plan, you must establish one with an approved investment provider. A Salary Reduction Agreement Form is available online at planconnect.com or by contacting PlanConnect at the phone number indicated below. Application forms to establish an account can be obtained from the representative of the approved Investment Provider you select. A list of the approved providers is available from PlanConnect or by logging into the plan website and selecting My Investments>Investment Provider. Your participation will begin at the start of the payroll period following the date your Payroll Department processes your completed Salary Reduction Agreement. Contributions to the Plan What type of contributions can I make to the plan? Your employer s plan accepts pre-tax salary deferral contributions and may permit other types of contributions. To learn more, please log into the plan website and select References > Plan Information >Your Plan Features or contact PlanConnect. How much can I contribute to the plan? The IRS limits the annual contributions you can make to a 403(b) plan. In 2013, the limit is $17,500. It may be greater if your employer s plan permits catch-up contributions for participants who are age 50 or older by December 31 st of the calendar year, or certain employees with at least 15 years of service. To learn more, please log into the plan website and select References > Plan Information >Your Plan Features or contact PlanConnect. If you are making salary deferral contributions to another 403(b), 401(k), SIMPLE IRA, or SARSEP plan, please check with your tax advisor or your investment provider to ensure you do not exceed this year s limit. How can I change or stop my contributions? You can make a change in or stop your contributions at any time by accessing your plan website and submitting a request to change or stop your contributions. You can also contact PlanConnect to obtain a Salary Reduction Agreement form to change or stop your contributions. The change will take effect at the start of the payroll period following the date your Payroll Department processes your completed request. Initiating Other Transactions To initiate other transactions please log into the plan website via planconnect.com, or contact PlanConnect for the appropriate form.

3 What To Do Next If you have any questions or if you need assistance, please contact PlanConnect by any means below. We are ready to assist you and we look forward to working with you now and in the future in reaching your retirement goals. Mail: Phone or Fax: Regular: Overnight: PlanConnect PlanConnect P.O. Box Madison St. Syracuse, NY 1322 Syracuse, NY Phone Fax AM-5PM ET Monday-Friday Sincerely, Brayton Wicks PlanConnect President PlanConnect, LLC is a wholly owned subsidiary of AXA Distribution Holding Corporation, an indirect subsidiary of AXA Financial, Inc. PlanConnect, Connect2Remit, Connect2Comply, Connect2Maintain and Connect2Achieve are registered service marks of AXA Distribution Holding Corporation. PlanConnect may not be available in all states. AXA Financial, Inc. and its family of companies do not provide tax advice. Please consult with your tax advisor regarding your particular circumstances. Each company is affiliated. AXA Distribution Holding Corporation and AXA Financial, Inc. are located at 1290 Avenue of the Americas, New York, NY 10104, (212) PlanConnect, LLC is located at 100 Madison Street, Syracuse, NY

4 Retirement Plans Approved Investment Providers and Plans 403(b) Plan AXA Equitable Equi-Vest Unit Annuity Collections PO Box Newark, NJ Horace Mann PO Box Asheville, NC ING Northern Life Insurance PO Box 5060 Minot, ND Life Insurance Company Of the Southwest PO Box Dallas, Texas Lincoln Financial Lincoln Life and Annuity Company of New York PO Box 2340 Fort Wayne, IN (800) Metropolitan Life PO Box 7777, Dept W4235 Philadelphia, PA Security Benefits PO Box Topeka, KS Nick Elliott (828) Richard Lindsay (828) Scott Wright (828) Jenny Moser (336) Sam Reavis (704) J. Scott Chassereau (877) Tom McNichol (704) William (Bill) Joyce (828) Allendale Dr. Forest City, NC Hendersonville Rd. Springfield, IL Farm Lane Mills River, NC A River St. Wilkesboro, NC Ravine Drive Waxhaw, NC S. Lake Drive Suite 90 #292 Lexington, SC North Lafayette St. Shelby, NC Spring Hollow Lane Flat Rock, NC Revised 02/01/2013

5 Retirement Plans Approved Investment Providers and Plans 457(b) Deferred Compensation Plan ING Northern Life Insurance PO Box 5060 Minot, ND Security Benefits PO Box Topeka, KS Scott Wright (828) Max Howell (704) William (Bill) Joyce (828) Farm Lane Mills River, NC PO Box 369 Waco, NC Spring Hollow Lane Flat Rock, NC K & 401 Roth: State Plan Prudential (866) Lorraine Rodriguez (704) (704) (fax) 457(b) Deferred Compensation: State Plan Prudential (866) Lorraine Rodriguez (704) (704) (fax) Amy Price (570) Revised 02/01/2013

6 403(b) Plan Summary REFERENCE SUMMARY OF 403(b) PLAN OPTIONAL FEATURES: 1. Who is eligible to participate? All employees 2. What contribution types are permitted under the plan? Employee pre-tax deferrals 3. What is the entry date of a Participant with respect to Elective Deferrals? As soon as administratively practicable following the date applicable under the employee s election 4. Which employee pre-tax deferral contributions are permitted? Up to the maximum amount permitted annually by law Up to the maximum amount permitted by law for age 50 catch-up Special 15 years of service catch-up 5. Which methods of payout are permitted under the plan*? All payout methods are available under the plan's funding vehicles (annuity contracts and/or custodial accounts) *Not to exceed single or joint life expectancy 6. Transactions Permitted** Loans Hardship Withdrawals Transfers In Transfers Out Direct Rollovers Contract Exchanges **All transactions must be approved by PlanConnect. PC-005

7 457(b) Plan Summary REFERENCE SUMMARY OF 457(b) PLAN OPTIONAL FEATURES: 1. Who is eligible to participate? All employees 2. What contribution types are permitted under the plan? Employee pre-tax deferrals 3. Which employee pre-tax deferral contributions are permitted? Up to the maximum amount permitted annually by law Up to the maximum amount permitted by law for age 50 catch-up Up to the maximum amount permitted by law for Final Three Year catch-up 4. Which methods of payout are permitted under the plan*? Single Sum Periodic Payments Annuity payments *Not to exceed single or joint life expectancy 5. Transactions Permitted* Loans Unforeseeable Emergency Distributions Transfers In Transfers Out Direct Rollovers **All transactions must be approved by PlanConnect. PC-005