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Plan Highlights
Plan Highlights describe your retirement plan. It represents a general overview of the information printed in your Summary Plan Description (SPD).
Your retirement program is more fully described in the formal provisions of your plan document. If there is a conflict between the plan highlights and your SPD, the language in your plan document will govern. For comments or changes regarding Plan Highlights, please utilize the Contact Us link at the top of this page.
| Eligibility Requirements | You are immediately eligible to participate in the plan. |
| Enrollment Dates | Once you have met the eligibility requirements, you can join the plan XXX. |
| Employer Contributions | Profit Sharing: Your employer has established a Profit Sharing plan. A Profit Sharing plan is a tax-qualified retirement plan in which your employer makes contributions on your behalf. The amount of the contribution is determined by an allocation formula that is generally based on participant earnings, while annual contributions are generally based on the company's profits. Contributions may be modified during times of business hardship. Employer Match: Your employer has elected to contribute $1000 each year to your account. |
| Rollovers | Money from other qualified plans such as 401(k) plans is accepted. Rollover contributions are allowed prior to meeting the eligibility requirements of the plan. |
| Investment Transfers | Using ING's automated telephone or Internet service, you have the ability to review your accounts and transfer funds from one investment option to another, 24-hours a day. |
| Hardship Withdrawals | Hardship withdrawal may be taken in case of extreme hardship as defined by the IRS when no other sources are available. |
| Distribution & Withdrawals | Funds are available at retirement, death, disability, or termination of service. |
| Participant Account Statements | Your investment statements are provided [monthly/quarterly]. |