401(k)

Planning for your life after retirement is as important as ensuring your health and wellness in the present. As such, Evening Post Industries offers a comprehensive 401(k) Retirement Plan through Transamerica for all eligible employees.
Plan Type: Retirement
Group Number: QK62979 00001
Phone: 800.755.5801
Web: eveningpost.trsretire.com
Eligibility:
  •  At least age 21 at time of enrollment
  • Employees working 30 hours or more per week on 1st of the month after 30 days of continuous employment
  • Employees working less than 30 hours per week after 1 year of continuous employment and a minimum of 1,000 worked
 Effective Date: 1st of the month once you meet the eligibility requirements

Pre-tax 401(k):

With the Transamerica 401(k) you can contribute pre-tax dollars towards your retirement savings and you are also offered a company match. All 401(k) plan eligible employees are automatically enrolled in a Transamerica 401(k) plan with a 5% contribution at the time they become eligible.

Automatic enrollment:

Once you’re eligible, unless you choose otherwise, you will be enrolled in the Pre-tax plan with contributions deducted from your pay before taxes at 5% and your contributions will be allocated to the “default” investment based on your retirement age. This will start as soon as administratively feasible after your plan entry date. Also, unless you change your contributions, your savings rate will rise automatically each year until it reaches the rate shown below.

Starting contribution rate: 5%

Increase will occur: 1% on the anniversary of your automatic enrollment date

Increases will stop when contributions reach: 10%

*Rehired employees will not be enrolled automatically. Must initiate enrollment by going online or calling Transamerica

Employee Contribution:

Your contributions are deducted from your paycheck before taxes each pay period. The IRS limits how much you can contribute each year; the 2019 IRS annual limit is $19,000. If you are (or will be) at least age 50 during the current calendar year, you can make additional “catch-up” contributions ($6,000) above the regular IRS annual limit for the year.

You can contribute from 1% up to 80% of your pay, subject to the maximum amount permitted by law.

You may increase, decrease, or stop your contributions at any time. Changes will go into effect as soon as administratively feasible.

Company Matching Contribution:

The matching contributions are based on the following formula: 50% of the first 8% of compensation that you contribute. If the employee is contributing in the 401(k) and Roth, the company will match 50% on the first 8% of combined compensation contribution.

Vesting:

You are vested in the employer Match contributions after 3 years of service.

Post-tax Roth 401(k)

The Roth 401(k) gives you the option to contribute post-tax dollars towards your retirement savings. Please see the Instructions Tab if you are interested in this post-tax option.

QuestionAnswer
When am I eligible to enrollFull-time employees, 1st of the month after 30 days of employment. Part-time employees, 1st of the month after a year of service, you must have worked 1000 hours of service during an eligibility period.
How do I enroll?You will be automatic enrolled in the Pre-tax plan with contributions deducted from your pay before taxes at 5% and your contributions will be allocated to the "default" investment based on your retirement age.
What if I do not want to be automatically enrolled?You will need to opt out of the plan through Transamerica Online eveningpost.trsretire.com Call 1-800-755-5801
When am I vested in the plan?You are vested in the employer match contributions after 3 years of service.
I am a rehire, am I automatically enrolled after 3 months?No, rehired employees will not be enrolled automatically. You must initiate enrollment by going online or calling Transamerica.
How do I request a loan or hardship withdrawal?You will need to login to your account via Transamerica Online eveningpost.trsretire.com Call 1-800-755-5801
How do I change my deductions or fund allocation?You will need to login to your account via Transamerica Online eveningpost.trsretire.com Call 1-800-755-5801

Download the app

IMPORTANT NOTICE REGARDING POST-TAX ROTH 401(k)

Roth 401(k): Please note that the company does NOT automatically enroll you into the Roth 401(k). Please contact Transamerica directly if you are interested in setting up a Roth 401(k).

Phone: 800-755-5801

Web: https://www.eveningpost.trsretire.com

    Online Access See flyer below for information on how to access your account online.

Beneficiary Information  Please be sure to designate a beneficiary by completing the beneficiary form in the documents tab.

 

 

Select the image above and enter your information to view this informational webinar.

Pre-tax 401(k):

With the Transamerica 401(k) you can contribute pre-tax dollars towards your retirement savings and you are also offered a company match. All 401(k) plan eligible employees are automatically enrolled in a Transamerica 401(k) plan with a 5% contribution at the time they become eligible.

Automatic enrollment:

Once you’re eligible, unless you choose otherwise, you will be enrolled in the Pre-tax plan with contributions deducted from your pay before taxes at 5% and your contributions will be allocated to the “default” investment based on your retirement age. This will start as soon as administratively feasible after your plan entry date. Also, unless you change your contributions, your savings rate will rise automatically each year until it reaches the rate shown below.

Starting contribution rate: 5%

Increase will occur: 1% on the anniversary of your automatic enrollment date

Increases will stop when contributions reach: 10%

*Rehired employees will not be enrolled automatically. Must initiate enrollment by going online or calling Transamerica

Employee Contribution:

Your contributions are deducted from your paycheck before taxes each pay period. The IRS limits how much you can contribute each year; the 2019 IRS annual limit is $19,000. If you are (or will be) at least age 50 during the current calendar year, you can make additional “catch-up” contributions ($6,000) above the regular IRS annual limit for the year.

You can contribute from 1% up to 80% of your pay, subject to the maximum amount permitted by law.

You may increase, decrease, or stop your contributions at any time. Changes will go into effect as soon as administratively feasible.

Company Matching Contribution:

The matching contributions are based on the following formula: 50% of the first 8% of compensation that you contribute. If the employee is contributing in the 401(k) and Roth, the company will match 50% on the first 8% of combined compensation contribution.

Vesting:

You are vested in the employer Match contributions after 3 years of service.

Post-tax Roth 401(k)

The Roth 401(k) gives you the option to contribute post-tax dollars towards your retirement savings. Please see the Instructions Tab if you are interested in this post-tax option.

QuestionAnswer
When am I eligible to enrollFull-time employees, 1st of the month after 30 days of employment. Part-time employees, 1st of the month after a year of service, you must have worked 1000 hours of service during an eligibility period.
How do I enroll?You will be automatic enrolled in the Pre-tax plan with contributions deducted from your pay before taxes at 5% and your contributions will be allocated to the "default" investment based on your retirement age.
What if I do not want to be automatically enrolled?You will need to opt out of the plan through Transamerica Online eveningpost.trsretire.com Call 1-800-755-5801
When am I vested in the plan?You are vested in the employer match contributions after 3 years of service.
I am a rehire, am I automatically enrolled after 3 months?No, rehired employees will not be enrolled automatically. You must initiate enrollment by going online or calling Transamerica.
How do I request a loan or hardship withdrawal?You will need to login to your account via Transamerica Online eveningpost.trsretire.com Call 1-800-755-5801
How do I change my deductions or fund allocation?You will need to login to your account via Transamerica Online eveningpost.trsretire.com Call 1-800-755-5801

Download the app

 

IMPORTANT NOTICE REGARDING POST-TAX ROTH 401(k)

Roth 401(k): Please note that the company does NOT automatically enroll you into the Roth 401(k). Please contact Transamerica directly if you are interested in setting up a Roth 401(k).

Phone: 800-755-5801

Web: https://www.eveningpost.trsretire.com

    Online Access See flyer below for information on how to access your account online.

Beneficiary Information  Please be sure to designate a beneficiary by completing the beneficiary form in the documents tab.

Select the image above and enter your information to view this informational webinar.

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It is important that you take steps to educate yourself on all employee benefit plan options and rewards. It is your responsibility to complete your benefits election in Ultipro, no later than 30 days from eligibility.