As a current participant in the 401(k) plan, I need to notify you that this is your quarterly opportunity to restart contributions (if you aren’t currently contributing) or make changes up or down to your contribution level. For the first pay period in any calendar quarter you can enroll in the plan and/or change your contribution level up or down. Between those quarterly periods you can ONLY stop making contributions altogether, NOT increase or decrease. If you wish to enroll in the plan or change your contribution percentage for the 2nd calendar quarter of 2012 you must get your forms back to Human Resources by June 25, 2012.
The ceiling for contributions in 2012 will be $17,000 unless you are considered a “highly compensated employee”. If you are over 50 you can also contribute an additional $5,500.00 “catch up”. You might want to take this into consideration when deciding how much you wish to contribute to your 401(k). If you wish to take advantage of the “catch up” provision please contact me or Sulema Castellanos individually.
You can pick up change forms from any of the following:
We have a broker/financial advisor to provide service and answer questions for our employees. Fred Pieracci at Cape Star Company can be contacted at 949/855-8770 with any investment questions at any time
