Page 17 - Future Steps
P. 17
401(k)
NISC offers a 401(k) plan administered by NRECA. You are eligible to Investment Funds
make contributions to the 401(k) plan in your second calendar month of Money Market
employment (provided you worked at least 84 hours in your irst calendar Short-Term Bond
month). You are eligible for employer contributions in the irst month
following your irst year of employment. Growth and Income Stock
S&P 500 Stock Index
Upon eligibility, NISC contributes a base of 4% of your salary to your Small-Company Stock Index
401(k) account and will match up to 4% of any contribution you make.
You may elect to make your contributions either pre-tax (traditional) or International Stock
post-tax (Roth). You are immediately vested in your 401(k) account. Diversiied Growth Stock
2020 Target Date Portfolio
NISC contribution 4% base + 4% match
2017 IRS maximum $18,000 + catch up for age 50 2030 Target Date Portfolio
2040 Target Date Portfolio
Please complete the 401(k) election form available on the NISC
Community to make changes to your employee contribution. Self-Directed Brokerage
(administrative fees applied)
Loan Options
Once you have reached $2,000 in your account, you may obtain up to 4
loans from your account. This requires a $100 administrative fee for each
loan. The minimum loan is $1,000; the maximum loan is 50% of your
pre-tax account balance.
Roll Over
You may transfer monies from your previous company’s 401(k) plan, so
long as it is a qualiied plan (follows IRS guidelines).
17
NISC offers a 401(k) plan administered by NRECA. You are eligible to Investment Funds
make contributions to the 401(k) plan in your second calendar month of Money Market
employment (provided you worked at least 84 hours in your irst calendar Short-Term Bond
month). You are eligible for employer contributions in the irst month
following your irst year of employment. Growth and Income Stock
S&P 500 Stock Index
Upon eligibility, NISC contributes a base of 4% of your salary to your Small-Company Stock Index
401(k) account and will match up to 4% of any contribution you make.
You may elect to make your contributions either pre-tax (traditional) or International Stock
post-tax (Roth). You are immediately vested in your 401(k) account. Diversiied Growth Stock
2020 Target Date Portfolio
NISC contribution 4% base + 4% match
2017 IRS maximum $18,000 + catch up for age 50 2030 Target Date Portfolio
2040 Target Date Portfolio
Please complete the 401(k) election form available on the NISC
Community to make changes to your employee contribution. Self-Directed Brokerage
(administrative fees applied)
Loan Options
Once you have reached $2,000 in your account, you may obtain up to 4
loans from your account. This requires a $100 administrative fee for each
loan. The minimum loan is $1,000; the maximum loan is 50% of your
pre-tax account balance.
Roll Over
You may transfer monies from your previous company’s 401(k) plan, so
long as it is a qualiied plan (follows IRS guidelines).
17
