As you know, your employee benefits package is a key part of your overall compensation. It provides an important measure of security and support for you and your family in a number of ways.
We are very pleased to invite you to take advantage of another component of your benefits package: the Diamond PEO, LLC 401(k) Plan as adopted by BZ Resources. This Plan can be the foundation of your retirement savings program because it offers many features that you can’t find in other types of long-term savings vehicles. For example, you can contribute to the Plan on a tax-deferred basis, your account’s growth is tax-deferred and all contributions are always yours, even if you leave the company.
The Plan provides for automatic 401(k) deferral enrollment, under which the company will withhold three percent (3%) of your Compensation, unless you affirmatively elect a different percentage or affirmatively elect not to participate.
To help you understand the many advantages of the Plan, please review the following important Plan documents:
- Summary Plan Description. In this document you’ll find a summary of Plan provisions.
- Enrollment Form. Complete this form to opt out of the Plan’s automatic enrollment provision or elect to contribute a different rate from your paycheck.
- Automatic Contribution Arrangement and Default Investment Alternative Notice. This notice provides important information about the Plan’s enrollment and investment options under the Plan, including the Plan’s default investment if you do not choose where to invest your account.
- Introduction to the Retirement Access Systems. This document provides an introduction to the Retirement Access Systems.
- Annual Statement of Disclosures. This notice provides important information regarding the Plan.
- Investment Comparative Chart. This notice provides you important information to help you compare the investment options offered in your Plan. Additional investment option information is available once you login to the Retirement Access System.
- Rollover Acceptance Form. Use this form if you have an account from a prior employer that you would like to roll into this Plan.
Please make time today to read these materials and take the first step toward building your financial resources for retirement. Enrolling in the Plan couldn’t be easier. You may enroll in just minutes online or by telephone, see the enclosed Enrollment Instructions for more information.
And while you’re thinking about your retirement planning, don’t forget that you may roll over your other retirement accounts into the Plan. By doing so, you’ll preserve the savings you’ve already accumulated and have all of your retirement savings in one place. What could be more convenient than having just one account statement to monitor progress toward your retirement security goals?
If you have questions regarding the Retirement Access System or the Plan, please contact Northwest Plan Services at (888) 700-0808; if you have questions regarding Benefit Eligibility or the Plan, please contact a Plan Representative in your Human Resources Department.