Page 105 - Benefits Summary 2018-2019 b_Neat

PLAN HIGHLIGHTS

Hercules Real Estate Services, Inc.
401(k) Plan

Introduction Employer Contributions Profit Sharing Contributions
This section describes highlights 1 year of service 0%
of your employer's retirement Profit Sharing
plan. It represents a general Your employer has established a 2 years of service 20%
overview of the information Profit Sharing plan. A Profit
printed in your employer's Sharing plan is a tax-qualified 3 years of service 40%
Summary Plan Description retirement plan in which your
(SPD). Your retirement program employer makes contributions on 4 years of service 60%
is more fully described in the your behalf. The amount of the
formal provisions of your contribution is determined by an 5 years of service 80%
employer's plan document. If allocation formula that is generally
there is a conflict between these based on participant earnings, 6 years of service 100%
plan highlights and your SPD, while annual contributions are
the language provided in the generally based on the company's Rollovers
plan document will govern. profits. Contributions may be Money from other qualified plans
modified during times of business such as 401(k) plans is accepted.
Eligibility Requirements hardship. Rollover contributions are allowed
You are eligible to participate in prior to meeting the eligibility
the plan when you are 21 years of Employer Match requirements of the plan.
age and have 1 year of service. Your employer may match a
portion of the contributions you Investment Transfers
Enrollment Dates make to the plan. Using Voya's automated telephone
Once you have met the eligibility or Internet service, you have the
requirements, you can join the plan Vesting ability to review your accounts and
semi-annually. You will always be 100% vested in transfer funds from one investment
the portion of your account option to another, 24-hours a day.
Employee Contributions attributable to your Employee
You may contribute 0 - 100% of contributions. You are also 100% Hardship Withdrawals
your annual pay, not to exceed vested upon your death, normal Hardship withdrawal may be taken
$18,500 annually. Annual retirement, or disability. Your in case of extreme hardship as
limitations are set by the IRS and employer contributions are subject defined by the IRS when no other
are subject to change. The tax laws to the following vesting schedule: sources are available.
may also let you contribute an
additional amount over the regular Employer Match Contributions Distribution & Withdrawals
annual limit if you are at least 50 1 year of service 0% Funds are available at retirement,
years old. Check with your benefits death, disability, or termination of
manager to see if you can take 2 years of service 20% service.
advantage of the increased
opportunity to 'catch up' and 3 years of service 40% Participant Account Statements
contribute even more to your Your investment statements are
employer's plan. If your adjusted 4 years of service 60% provided quarterly.
gross income does not exceed
certain limits, you may be eligible 5 years of service 80%
for a tax credit.
6 years of service 100%

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