Page 63 - Wages, Salaries and Other Earnings

Retirement Plan Contributions

Qualified automatic contribution arrangements

 Under a qualified automatic contribution arrangement,
your employer can treat you as having elected to have a
part of your compensation contributed to a section 401(k)
plan.

 You are to receive written notice of your rights and
obligations under the qualified automatic contribution
arrangement.

Qualified automatic contribution arrangements

 The notice must explain:
• Your rights to elect not to have elective contributions
made, or to have contributions made at a different
percentage; and
• How contributions made will be invested in the
absence of any investment decision by you.
 You must be given a reasonable period of time after
receipt of the notice and before the first elective
contribution is made to make an election with respect to
the contributions.