TIAA-CREF 401(k) GSRA Open Enrollment Begins
December 8, 2011
Message from Rhonda Barbosa
Attention All Regular and Term Employees:
TIAA-CREF 401(k) GSRA Open Enrollment Begins Today
The 401(k) Group Supplemental Retirement Annuity (GSRA) Open enrollment for Calendar Year 2012 will be offered for one week, beginning on December 8, 2011 and closing on December 15, 2011.
Human Resources will be providing web-based enrollment for your convenience. To access the 401(k) GSRA enrollment link, go to the Lab's Insight page, under Spotlight News. Or follow this link:
DO YOU NEED TO ENROLL?
- If you wish to contribute more or less than the 5% default contribution, or opt-out of this program, you must enter the on-line system no later than close of business (5:00pm) on December 15.
WHAT HAPPENS IF YOU DO NOT ENROLL?
- If you do not enter the on-line system prior to close of business (5:00pm) on Wednesday, December 15, you will be automatically enrolled in the default employee 5 % contribution plan that is based on your current salary.
2012 Contribution Limits:
- Voluntary Employee Contribution - $17,000
- Catch-Up Allowance (50+ years of age) - an additional $5,500
- Total Contribution (excluding catch-up) - $50,000
Safe Harbor Plan Participant Notice:
- Please review the attached Safe Harbor notice
- Jefferson Lab is required to provide you with the 401(K) Safe Harbor non-elective contribution which describes plan related rules
If you have questions, please contact Treva Ferguson (x 7291) or Doug Roeder (x 7576). You can change your contribution amount any time during the year by submitting a new Salary Reduction Agreement form. These forms are located in the Human Resources Office in the VARC building.