The amount of your elective deferral is deducted from your pay before taxes and is contributed to the Plan by your Employer. The Department of Treasury may adjust this limit annually. You may restart your elective deferral contributions at the same rate, an increased rate or decreased rate or you may change your elective deferral contributions as of the first day of any month, provided you give written notice at least 15 days prior to the end of any month. To make any type of change, you must file a written election with the Plan Administrator. Each election stays in effect until you submit a new election in writing.
Exceptions do apply.
The employer may decide to make matching contributions to all eligible participants. If a previous employer has paid retirement plan benefits to you in a lump sum, in most cases you may rollover the amount of your distribution to this Plan within 60 days after you receive it. Vesting Vesting means you have a non-forfeitable right to your accounts under the Plan. The assets of the Plan are held in a trust. You will be allowed to direct the investment of your account.