Page 5 - Franklin Madison 2021 Benefits Guide
P. 5
Important Enrollment Deadlines
Type of Employee Type of Coverage Enrollment Deadline Coverage Efective Date
Health Beneits, Voluntary First of the month following
Insurance Beneits, and 30 days from date of hire date of hire
Flexible Spending Plans
New Hires All eligible employees will
be auto-enrolled into the
401(k) Savings Plan 401(k) savings plan at 4%, As soon as administratively
feasible after enrollment
beginning with their irst
payroll
Health Beneits, Voluntary Annually during the Open January 1 of the following
Insurance Beneits and Enrollment period year
Current Flexible Spending Plans
401(k) Savings Plan Changes may be made at As soon as administratively
any time
feasible
Changes must be made
Employees who experience a qualiied Health Beneits, Voluntary within 30 days of the life Date of Life Event
Insurance Beneits, and
Life Status Change* Flexible Spending Plans status change
* If you do not elect Voluntary Life Insurance when you are irst eligible and you wish to elect it at a future date, you and your dependents may
need to provide Evidence of Insurability before coverage begins.
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Type of Employee Type of Coverage Enrollment Deadline Coverage Efective Date
Health Beneits, Voluntary First of the month following
Insurance Beneits, and 30 days from date of hire date of hire
Flexible Spending Plans
New Hires All eligible employees will
be auto-enrolled into the
401(k) Savings Plan 401(k) savings plan at 4%, As soon as administratively
feasible after enrollment
beginning with their irst
payroll
Health Beneits, Voluntary Annually during the Open January 1 of the following
Insurance Beneits and Enrollment period year
Current Flexible Spending Plans
401(k) Savings Plan Changes may be made at As soon as administratively
any time
feasible
Changes must be made
Employees who experience a qualiied Health Beneits, Voluntary within 30 days of the life Date of Life Event
Insurance Beneits, and
Life Status Change* Flexible Spending Plans status change
* If you do not elect Voluntary Life Insurance when you are irst eligible and you wish to elect it at a future date, you and your dependents may
need to provide Evidence of Insurability before coverage begins.
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