Page 26 - 2015 ASARCO Enrollment Guide
P. 26
2015 Beneit Guide
401(k) Savings 401(k) Savings Plan
Plan Participating in the ASARCO 401(k) Savings Plan may be the most
important piece of your retirement puzzle. That is because the other
basic pieces of the puzzle are Social Security and personal savings,
With convenient automatic and these pieces may only provide a limited portion of your income
payroll deductions, saving
for your retirement could when you retire. Employees may set aside up to 75% of annual salary
not be easier. up to the IRS maximum limit for 2015 ($17,500 in 2014) and the
Under your ASARCO 401(k) which maximum catch-up contribution allowed for employees over age 50
is administered through Vanguard, ($5,500 in 2014).
you can diversify your investments
through a variety of options. To learn ASARCO will match your deferral including catch-up contributions, up
more about your plan, investment to the following percentages of your base annual salary:
opportunities and account status:
Visit www.vanguard.com and set X Hired prior to 5/1/2011—9%
up your account for easy online X Hired on or after 5/1/2011—6%
access
ASARCO automatically enrolls employees in the One Step program
Call (800) 523-1188
and begins deferring a savings rate of 3% of your pay on a pre-tax
basis on the irst of the month following 30 days of employment,
unless you elect not to participate in One Step. Your saving rate
will increase by 1% each March, if you have completed one year of
employment, until you reach 6%.
Employees hired on or after July 1, 2014 will become vested in the
Company match after two (2) years of service (from the date of hire).
Employees who were hired on or before June 30, 2014 are immediately
vested in the Company match.
Vanguard Financial Planning Services “Ask a CFP” is a free service
available to participants over age 55.
Update Your 401(k) Vanguard Beneficiary
Information
Annual Enrollment is always a good time to consider updating your
beneiciary information on both your life insurance and your 401(k).
Even if you have updated your life insurance beneiciary information in
ESS, you must update this information for your 401(k). To change your
beneiciary for your 401(k) simply contact Vanguard at (800) 523-1188
or log into www.vanguard.com.
26
401(k) Savings 401(k) Savings Plan
Plan Participating in the ASARCO 401(k) Savings Plan may be the most
important piece of your retirement puzzle. That is because the other
basic pieces of the puzzle are Social Security and personal savings,
With convenient automatic and these pieces may only provide a limited portion of your income
payroll deductions, saving
for your retirement could when you retire. Employees may set aside up to 75% of annual salary
not be easier. up to the IRS maximum limit for 2015 ($17,500 in 2014) and the
Under your ASARCO 401(k) which maximum catch-up contribution allowed for employees over age 50
is administered through Vanguard, ($5,500 in 2014).
you can diversify your investments
through a variety of options. To learn ASARCO will match your deferral including catch-up contributions, up
more about your plan, investment to the following percentages of your base annual salary:
opportunities and account status:
Visit www.vanguard.com and set X Hired prior to 5/1/2011—9%
up your account for easy online X Hired on or after 5/1/2011—6%
access
ASARCO automatically enrolls employees in the One Step program
Call (800) 523-1188
and begins deferring a savings rate of 3% of your pay on a pre-tax
basis on the irst of the month following 30 days of employment,
unless you elect not to participate in One Step. Your saving rate
will increase by 1% each March, if you have completed one year of
employment, until you reach 6%.
Employees hired on or after July 1, 2014 will become vested in the
Company match after two (2) years of service (from the date of hire).
Employees who were hired on or before June 30, 2014 are immediately
vested in the Company match.
Vanguard Financial Planning Services “Ask a CFP” is a free service
available to participants over age 55.
Update Your 401(k) Vanguard Beneficiary
Information
Annual Enrollment is always a good time to consider updating your
beneiciary information on both your life insurance and your 401(k).
Even if you have updated your life insurance beneiciary information in
ESS, you must update this information for your 401(k). To change your
beneiciary for your 401(k) simply contact Vanguard at (800) 523-1188
or log into www.vanguard.com.
26
