Page 21 - Optima Tax EE Guide 01-19 CA_FINAL
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Retirement Savings








         TransAmerica | 401(k)
         You are encouraged to participate in Optima Tax Relief’s 401(k) plan. This plan allows
         you to fund your retirement with pre-tax dollars. You can defer a percentage of your
         annual salary to IRS benefit maximums. If you are 50 years old or older during the plan
         year, you may contribute a catch-up deferral. Contact the Human Resources Department
         to confirm eligibility and enrollment dates.


         401(k) IRS Maximums                                              2019                      2020

         Elective Deferral                                               $19,000                 Indexed for
         Catch-Up Deferral (Age 50+)                                      $6,000                   Inflation


         Contribution Limits                                   Loans & Hardship Withdrawals
         Please refer to the table above for IRS Maximums.     Contact the Human Resources Department for
         Please note, if you work for multiple employers       information / requirements for loans and hardship
         during the year, these limits are combined for all    withdrawals.
         plans that you contribute to during the year.
         Restrictions may apply to these limits based on plan   Rollover Contributions
         documents and annual testing requirements.            If you have an outside qualified retirement plan or
                                                               account such as a 401(k), 403(b), 457(b) or IRA, you may
         Employer Contributions                                transfer that account into your new plan with Optima
         Optima Tax Relief offers an excellent 401(k) program   Tax Relief. Please contact TransAmerica or the Human
         that will match 50% of your contribution up to 3% of   Resources Department for additional information.
         your annual income.
                                                               Termination of Employment
         Contribution Changes                                  Upon termination of employment from Optima Tax
         You may stop your contributions entirely at any time,   Relief, regardless of reason, you will be entitled to
         but be sure to check with Human Resources             request a full distribution of your vested account
         Department for frequency and process for changing     balance. This may be done as a rollover to another plan
         your contributions. Requests to change or stop your   or IRA. You may also request a lump-sum cash payment
         contributions must be submitted through your online   to yourself. Please be aware of possible taxes and
         account at www.ta-retirement.com.                     penalties which may apply to any payment other than a
                                                               rollover.








            Enrollment and Account Access                                                  Vesting         % of
            •   Attend a monthly 401(k) Enrollment Meeting to learn                         Year       Ownership
               more about the 401(k) plan.                                                    0             0%
            •   Email HR@optimataxrelief.com to enroll in the 401(k)                          1            20%
               and set up an account.                                                         2            40%
                                                                                              3
                                                                                                           60%
            •   Go to www.ta-retirement.com to check your 401(k)                              4            80%
               account balance, view your contributions, change your                      5 or more       100%
               investments, and more.




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