| Q. |
What are the advantages of
participating in a 401(k) plan? |
| A. |
When people talk about 401(k)
plans, you often hear about advantages like:
- Free money from your employer
- Lower taxable income
- Savings and earnings that accumulate without you having to remember to
make deposits
- The opportunity to retire and not have to worry about money anymore
Does this sound too good to be true? It isn’t. It’s what you can gain from
investing in the Labor Unions 401(k) plan. The 401(k) is one of the most
popular retirement plans around. |
| Q. |
How do I participate? |
| A. |
In most cases, you are eligible
to participate immediately upon employment under a collective bargaining
agreement (CBA) or non-bargaining participation agreement that permits wage
reduction contributions to the Plan. You can check your CBA, ask your
Human Resource Department, or contact BeneSys to confirm this. |
| Q. |
How do I make contributions? |
| A. |
You contribute through payroll
deduction by completing an enrollment form and giving it to your employer. |