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If you qualify for this new benefit, you will receive an informational packet by mail with a return address from ERISA, Fiduciary Service Inc, if you have not already received it.
All eligible employees are automatically enrolled as of March 1, 2020. If you wish to
opt-out, please do so via the mailed packet instruction after March 1.
If you are a qualified employee and do not receive the mailed packet or are unable to
opt-out in March, you are still able to do so until May 29, 2020 via the Paychex Benefits website.
Those who keep their auto-enrollment in the 401(k) program will be auto-enrolled with a 1% employee contribution factor, unless specified differently. If you are not currently eligible and become eligible for the eKidzCare 401(k) plan, Paychex will notify you.
Should someone choose to leave the plan after 90 days, their contributed funds will be returned to them, but they will be assessed the standard 10% early withdraw penalty. Please note, there is no current employer matching for the 401(k) plan, however the Management Team will continue to re-evaluate the plan on a consistent basis.