Page 50 - SIH 2022 Re-Enrollment Guide
P. 50
Employer Contributions Plan Fees Recordkeeping
Currently, SIH matches 50% of your contribution or Administrative Fees
up to the irst 5% of eligible compensation. You Investment Options & Fees
are eligible for this Employer Match contribution There is a participant fee for recordkeeping
into the Plan the irst of the month following services. This annual lat administration fee of $59
your completion of 1,000 hours of service within is calculated monthly and deducted quarterly from
12 consecutive months commencing with your your account at $14.75. For information on Plan Fees
date of hire and during any subsequent Plan and expenses, please review the Plan’s Notice of
Year. Thereafter, in order to receive a Matching Investment Returns & Fee Com.
Contribution for a subsequent Plan Year, you must
have completed at least 1,000 hours of service A wide array of investment options is available
during the prior Plan Year. A Matching Contribution through the SIH Plan. Please review the Plan’s
is not guaranteed each Plan Year. The amount of the Notice of Investment Returns & Fee Comparison
Matching Contribution, if any, will be determined for information on the investment options
under a matching formula established by SIH for at empowermyretirement.com. Once you
each Plan Year. have enrolled, investment option information
is also available through the website at
SIH may provide for a Basic contribution (proit empowermyretirement.com or by calling the
sharing) in an amount of 1.5% of your eligible Voice Response System toll free at 833.SIH.401K
compensation. To be eligible for the proit sharing 833.744.4015. The website and the Voice Response
contribution into the Plan, you must complete 1,000 System are available to you 24 hours a day, 7 days a
hours of service after one calendar year. You must be week.
employed on the last day of the last pay period of
the calendar year to be eligible. Withdrawals Permitted
Vesting Schedule Qualifying distribution events are as follows:
Vesting refers to the percentage of your account X Retirement
you are entitled to receive upon the occurrence of a X Permanent Disability upon receipt of
distributable event. The value of your contributions appropriate paperwork and approval by the
(including rollovers from previous employers), Retirement Plan Committee
Matching Contributions, and any earnings they X Financial hardship (as deined by the Internal
generate are always 100% vested. The value of Basic Revenue Code and SIH Plan provisions)
contributions to the Plan and any earnings they
generate are vested as follows: X Severance of employment (as deined by
Internal Revenue Code provisions)
Percentage of Employer X Attainment of age 59½
Years of Service Vested
Contributions
Less than 3 years 0% X Death (your beneiciary receives your beneits)
3 years 100%
50
Currently, SIH matches 50% of your contribution or Administrative Fees
up to the irst 5% of eligible compensation. You Investment Options & Fees
are eligible for this Employer Match contribution There is a participant fee for recordkeeping
into the Plan the irst of the month following services. This annual lat administration fee of $59
your completion of 1,000 hours of service within is calculated monthly and deducted quarterly from
12 consecutive months commencing with your your account at $14.75. For information on Plan Fees
date of hire and during any subsequent Plan and expenses, please review the Plan’s Notice of
Year. Thereafter, in order to receive a Matching Investment Returns & Fee Com.
Contribution for a subsequent Plan Year, you must
have completed at least 1,000 hours of service A wide array of investment options is available
during the prior Plan Year. A Matching Contribution through the SIH Plan. Please review the Plan’s
is not guaranteed each Plan Year. The amount of the Notice of Investment Returns & Fee Comparison
Matching Contribution, if any, will be determined for information on the investment options
under a matching formula established by SIH for at empowermyretirement.com. Once you
each Plan Year. have enrolled, investment option information
is also available through the website at
SIH may provide for a Basic contribution (proit empowermyretirement.com or by calling the
sharing) in an amount of 1.5% of your eligible Voice Response System toll free at 833.SIH.401K
compensation. To be eligible for the proit sharing 833.744.4015. The website and the Voice Response
contribution into the Plan, you must complete 1,000 System are available to you 24 hours a day, 7 days a
hours of service after one calendar year. You must be week.
employed on the last day of the last pay period of
the calendar year to be eligible. Withdrawals Permitted
Vesting Schedule Qualifying distribution events are as follows:
Vesting refers to the percentage of your account X Retirement
you are entitled to receive upon the occurrence of a X Permanent Disability upon receipt of
distributable event. The value of your contributions appropriate paperwork and approval by the
(including rollovers from previous employers), Retirement Plan Committee
Matching Contributions, and any earnings they X Financial hardship (as deined by the Internal
generate are always 100% vested. The value of Basic Revenue Code and SIH Plan provisions)
contributions to the Plan and any earnings they
generate are vested as follows: X Severance of employment (as deined by
Internal Revenue Code provisions)
Percentage of Employer X Attainment of age 59½
Years of Service Vested
Contributions
Less than 3 years 0% X Death (your beneiciary receives your beneits)
3 years 100%
50
