Pay:
· Pay is total pay, including elective deferral contributions but excluding fringe benefits.

Elective Deferral Contributions:
· 100% of pay is the maximum.
· Total elective deferral contributions may not exceed $15500 in 2007.

Elective Deferral Contribution Changes:
· Stop elective deferral contributions on any date.
· Change elective deferral percentage annually.

Other Employer Contributions:
You may make the following employer contributions:
· Discretionary Matching Contributions
· Qualified Nonelective Contributions
· Discretionary Contributions

Vesting Percentage:
· 2 years, 20%; 3 years, 40%; 4 years, 60%; 5 years, 80%; 6 years or more, 100%

Plan Distributions:
· Retirement
· Early Retirement
· Death
· Disability
· Termination of employment

Financial Hardship Withdrawals:
· All or part of vested account (not earnings on elective deferral contributions) for immediate and severe financial need.
· Elective Deferral Contributions will be suspended for six months following the date of the withdrawal.

In-Service Withdrawals:
· Rollover Withdrawal
· Age 59 1/2 Withdrawal

Loans:
· Maximum amount of any loan is the lesser of: a) 50% of the Member's Vested Amount, reduced by any outstanding loan balance, or b) $50000, reduced by the highest outstanding loan balance during the one-year period ending on the day before the loan is made.
· Minimum amount of any loan is $1000.
· Maximum number of outstanding loans is 1.
· Maximum term of any loan is 5 years.

If you have any questions, or would like further information, please contact Kyla Gaona, benefits administrator, at (817) 847-6673 ext. 2122 or email

 

 

 

 

Information Provided by the Global Family of Staffing Agencies - A Full Service Employment Agency in Fort Worth, Texas. Global - Not Your Average Employment Agencies.
Global - "Putting Great People in Great Jobs."