•
What is E-mail Express?
A free service to send your 401(k) balance to you by e-mail
once per week. We also provide links to online information about your
401(k) plan to help your better manage your investments. To
subscribe click
here.
•
How
do I access my 401(k) account information?
In order to view your balance, go to our home page and click
on “Plan Participants” and then on “Manage Your Account.”
Enter your Social Security Number (SSN) (without hyphens) and
your Personal Identification Number (PIN). The default PIN Number is the last four digits of your SSN. You may change your User ID and PIN once you are already logged into your
account.
•
What do I do if I forgot my PIN,
my Pin is locked in a security log, or my SSN/PIN is the
wrong combination?
Go
to the “Manage Your Account” section of our site and
fill out the form under ”Reset your PIN?”
•
What
is the difference between a password and a PIN?
Your
password is used for the enrollment or change forms which are
located
here. Your PIN is used to view your 401(k) account balance which is
located
here.
•
How
do I know my account information is secure?
The account information and transaction area uses secure
socket layer encryption to ensure that your account information is
not accessible to others. You
are also required to enter a personal identification number (PIN) to
access your specific account information. Upon accessing your account, you should change your PIN to something
different. This PIN should be kept confidential.
•
I
received my statement and the amount of contributions does not match
the amount deducted on my pay stub - why?
Your payroll service by law has until the 15th business day of the
month following the month in which the deferral was deducted to
transmit it to your 401(k) plan. Therefore, there is always a lag
between the time it is deducted and when it appears on your cash
basis statement. Your payroll service may transmit your money more
frequently than monthly if administratively possible. However, the
compilation of the data file that must accompany the money is
complex and includes required data to make the contribution. The
file usually includes thousands of employees, meaning the processing
time is lengthy and the reason your deferral can’t be transmitted
any faster. Once the funds and the data file are received, it takes
Slavic 2 to 4 days to process the information and send the trade to
the fund companies. The fund companies have, by law, three days to
settle the trade, after which, you will see your contribution on
your statement via the Web or voice response system.
•
Why
do we have two plans?
Your company may have an old frozen, single employer plan that is not
compatible with the new multiple employer plan. Because they are
different types of plans, the regulations prevent them from being
merged and the assets must remain separate. If you have a balance in
both plans, you will receive two statements in separate mailings.
•
Where
is the money held if there is a 4 to 6 week delay in investing it?
As explained in a previous question, the compilation of the required data
accompanying the contribution is a lengthy and complex systems
process. Until this is accomplished, your money remains at your
company. It cannot be invested until an electronic data file can be
compiled. When the file is ready, the money is sent to a trust account
while Slavic does the accounting, plan testing, and the trade. This
usually takes 3 days. During this period, interest does not accrue to you
because trust accounts, by law, do not pay interest: nor does Slavic earn
any interest on your money. Your 401(k) plan has daily valuations and
segregated accounts requiring advanced systems to provide you this
information. Your deferral is tested before it goes to the fund companies
to insure that eligibility is met, vesting is computed, and that you
haven’t exceeded certain deferral limits. This process takes 2 to 4 days
and requires all of your payroll information for every contribution in
order to operate your plan compliantly. If your company could increase the frequency of
transmissions, the cost of the plan would go up because more
processing would occur. For this reason, your deferrals are being
invested cost effectively and as fast as administratively feasible.
•
Can
I transfer my 401(k) balance in the frozen plan into an IRA if I’m
fully vested?
You cannot take a distribution or roll to an IRA while you are still
employed under IRS regulations.
•
Why
can’t I take my money out of the plan if I am no longer
participating?
IRS
regulations prevent taking a distribution if you are still employed at
your company or the work-site employer. Once you terminate
employment, you can get your vested balance.