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Panum Group, LLC 401(k) plan1 |
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PANUM GROUP |
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Panum Group offers its regular full-time employees an opportunity to participate in the Company-sponsored 401K plan. To enroll, please complete and submit the 401K enrollment form. The key features of the plan include:
PLAN YEAR: January 1 to December 31
PLAN EFFECTIVE DATE: July 15, 2008
ELIGIBILITY: Age 21. If you were hired on or before July 15, 2008, you are automatically eligible to participate in the Plan.
ENTRY DATES: Participation in the plan may begin on January 1st, April 1st, July 1st, and October 1st.
You may increase or decrease your 401(k) election as of the first day of each quarter. Your 401(k) election is deemed valid on a continuing basis unless revoked (at any time by written notice to the Payroll Dept.) or modified. If you stop contributing, you may begin participating again at any subsequent Entry Date.
COMPENSATION: Compensation for plan purposes is total pay, including overtime, bonuses, commissions, etc.
EMPLOYEE CONTRIBUTIONS: Participants may defer up to 100% of total compensation on a pre-tax basis up to the IRS maximum (Year 2009 limit is $16,500 for all except those 50+ years old for whom the limit is $22,000). Your election may be made as either a fixed dollar amount or as a percentage of pay. 401(k) Contributions will be made through regular payroll withholding and deposited into the Plan account by your Employer at regular intervals following each pay period.
401(k) Contributions will be made through regular payroll withholding and deposited into the Plan account by your Employer at regular intervals following each pay period. _________________________ 1 This outline provides Plan Highlights ONLY. Please refer to Plan Document & Summary Plan Description for complete Plan provisions. |