Page 17 - 2020 HEICO Enrollment
P. 17
2020
The Heico Companies, LLC Benefits Enrollment
401(k)
Mass Mutual
Contract Number: 60082 Will the Company
What Is a 401(k) Plan? Contribute to My Account?
A 401(k) is a retirement savings account that allows you to invest Yes! After six months of service,
money “tax-deferred” from income tax. This means that your eligible Heico will match 100% of the
contributions are deducted from your paycheck and reduce your irst 3% of compensation that
taxable income. you contribute, plus 50% of the
next 2% of your contributions.
Eligibility The maximum match you can
You are eligible to participate in the Plan on the irst day of the month earn is 4% on a 5% or greater
following the date you meet the following requirements: employee contribution.
You are an employee of one of the employers covered by the Plan When Will My Deductions
and you are employed on a permanent, full-time basis Begin?
You are at least 21 years of age Your deductions will begin at
You are not a nonresident alien who receives no earned income the beginning of the next month
from an employer which constitutes income from sources within the following your enrollment.
United States;
You are not a temporary employee of an employer; Can I Rollover My Previous
401(k) or IRA Account?
You will complete at least 1,000 hours of service in any Yes, you can rollover your 401(k)
12-consecutive-month period; from a previous employer or an
You do not belong to a group of hourly employees represented by a IRA into the Heico 401(k) Plan.
collective bargaining representative, unless the Plan was extended to To do so, indicate that you would
your group through collective bargaining. like to rollover when you enroll
at www.retiresmart.com or call
How Do I Enroll? Mass Mutual at 800.743.5274.
To enroll, simply go to www.retiresmart.com.
To register, select “create account” to create your username and PIN.
■ You will receive a welcome kit mailer which provides
plan information.
When Can I Enroll?
You can enroll on the irst day of the month following the date you have
completed 30 calendar days of employment with your company.
17
The Heico Companies, LLC Benefits Enrollment
401(k)
Mass Mutual
Contract Number: 60082 Will the Company
What Is a 401(k) Plan? Contribute to My Account?
A 401(k) is a retirement savings account that allows you to invest Yes! After six months of service,
money “tax-deferred” from income tax. This means that your eligible Heico will match 100% of the
contributions are deducted from your paycheck and reduce your irst 3% of compensation that
taxable income. you contribute, plus 50% of the
next 2% of your contributions.
Eligibility The maximum match you can
You are eligible to participate in the Plan on the irst day of the month earn is 4% on a 5% or greater
following the date you meet the following requirements: employee contribution.
You are an employee of one of the employers covered by the Plan When Will My Deductions
and you are employed on a permanent, full-time basis Begin?
You are at least 21 years of age Your deductions will begin at
You are not a nonresident alien who receives no earned income the beginning of the next month
from an employer which constitutes income from sources within the following your enrollment.
United States;
You are not a temporary employee of an employer; Can I Rollover My Previous
401(k) or IRA Account?
You will complete at least 1,000 hours of service in any Yes, you can rollover your 401(k)
12-consecutive-month period; from a previous employer or an
You do not belong to a group of hourly employees represented by a IRA into the Heico 401(k) Plan.
collective bargaining representative, unless the Plan was extended to To do so, indicate that you would
your group through collective bargaining. like to rollover when you enroll
at www.retiresmart.com or call
How Do I Enroll? Mass Mutual at 800.743.5274.
To enroll, simply go to www.retiresmart.com.
To register, select “create account” to create your username and PIN.
■ You will receive a welcome kit mailer which provides
plan information.
When Can I Enroll?
You can enroll on the irst day of the month following the date you have
completed 30 calendar days of employment with your company.
17
