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TODAY'S DRIVING FORCE IN HR OUTSOURCING SOLUTIONS!

401(k) Retirement (TheStandard)

The CUPI 401(k) Retirement Plan, offered through TheStandard, can play an important role in helping employees reach financial and retirement goals. The plan provides a systematic method of saving for retirement on a pre-tax basis.

Entering the Plan:

• Employees become eligible to begin contributing to their 401(k) after six months of service
• Entry dates are the first day of January and July

Participant Contributions:

Participants may contribute to the plan on a pre-tax basis. These contributions, known as "elective deferrals," must fall within the following range:

• Minimum: 0% contribution
• Current Maximum: $16,500 (additional $5,500 if age 50 or older) or maximum allowed by law, whichever is less

Employees may change the rate of their elective deferrals or re-enter the plan on the first day of any future calendar quarter. Participant contributions are 100% versted at all times.

Features of the CUPI 401(k):

• The CUPI 401(k) plan is available exclusively for CU People clients, who benefit from low administrative costs and excellent investment options
• Dollar for dollar up to 4% match (Safe Harbor Plan means there are no testing requirements)
• 2% annual profit-sharing at the client's discretion to be decided at year-end (choose between 0% and 2%)

Rolling over retirement accounts :

Combining assets from several retirement accounts is simple and easy. Plans may now accept rollovers from:

• 401(k) and other qualified retirement plans
• Governmental Deferred Compensatino (457) Plans
• Tax-sheltered Annuities (TSAs) and IRAs