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401(k) Retirement Summary Plan Description (enter 48935 at prompt)
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401(k) Retirement Savings Plan
Suhor Industries, Inc. has had a long history of providing the best possible Retirement Benefit available. The company's 401(k) retirement savings plan, managed by Fidelity Investments (the largest provider of 401(l) services nationally), provides a great opportunity to set aside money for retirement while you are working. In fact, the 401(k) is by far the most popular retirement savings plan existing in the United States today. Your contribution and matching funds from the company accumulate on a tax-deferred basis creating a great investment opportunity. Special care has been taken to provide investment strategies ranging from virtually no risk, through growth and income to aggressive postures.
When you enroll in the plan, you may enroll the beginning of any calendar quarter following 90 days of employment, a portion of your paycheck is placed in a separate account for your benefits. You choose the amount, within certain guidelines, that will be set aside and how it is to be invested. Moreover, all monies in your account that have contributed by you, including the earnings, belong to you and you alone. Matching funds contributed by the company vest (your percentage of ownership increases with time) over a five year period at which time you become 100% owner of all monies and earnings in your account. You owe no tax until such time as your 401(k) assets are distributed to you.
You have complete control of your account and may access it either by phone or online. You can view your account balances, see what kind of return you are making, look at your investment history, make changes in your investments, change your deduction amount or even apply for a hardship loan.
To access by phone: Call Fidelity at 1.800.835.5097. Phone representatives are available 8:30 am - 8:00 pm in any time zone, Monday - Friday. Spanish 1.800.587.5282.
On line access: www.401k.com
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