401K Plan
Eligibility
Generally, all non-union employees may participate in the Plan upon hire.
Employee Contribution
Employer matching contributions are made on a per-pay period basis based on the amount of the employee’s pre-tax and/or after-tax Roth contributions. The employer match is 100% of employee deferrals up to the first 3% of compensation for the period and 50% of the next 2% of compensation for the period, and is immediately vested. To maximize the amount of match received annually, you must contribute continuously throughout the year.
Contribution (Elective Deferrals)
- You may make pre-tax and/or "Roth" after-tax contributions (referred to as "elective deferrals") of 1% to 80% (in 1% increments) of eligible compensation per pay period, including wages, overtime, bonuses and commissions.
- You may change or stop elective deferrals at any time by accessing your account; changes are accepted daily and generally take effect within 1 to 2 payroll periods.
- For 2016, the maximum limit on elective deferrals to a 401(k) plan is $18,000 for participants under age 50 and $24,000 for participants age 50 and over by the end of the calendar year.
- For participants who are considered "highly compensated employees," as defined by the Internal Revenue Code (IRC), employee elective deferrals may be further limited by nondiscrimination testing requirements.
- The annual compensation limit under IRC Section 401(a) (17) which can be considered for employee and employer (if applicable) contributions is $265,000 for 2016.
Enrollment and Account Access
Eligible employees may enroll in the Plan or access their accounts virtually at any time:
- Connect by Phone: 888-401-5273
- Connect Online: Log into the Retirement Service CenterSM via the Employer Service CenterSM (ESC) at esc.insperity.com. If you do not have access to the ESC, log in directly at retirement.insperity.com.
- Mobile Access your account using the Insperity Retirement App available for download in the iTunes® App Store® or Google PlayTM.
Note: Plan deductions generally begin within 1 to 2 payroll periods after enrollment.
