Employee Care Resources

We are excited to announce that in 2025, we will be transitioning to a new 401(k) provider and fund administrator. This change is part of our ongoing efforts to provide better retirement savings options while reducing overall administration costs by 50%.

 

Key Changes to Expect:

• Lower Costs: We are moving to a new provider that will significantly reduce our 401(k) plan's administration costs.

• Better Fund Options: We will offer publicly traded Target Date and Lifestyle Funds, which provide more readily available fund information for better transparency and decision-making.

• Improved Integration with ADP: The new system will integrate seamlessly with our existing ADP platform for smoother tracking and management of your contributions.

• Enhanced Roth Savings Opportunities: The new plan will offer improved Roth savings options, including a Backdoor Roth feature, which allows employees to save more in Roth accounts—giving you greater flexibility in your retirement planning.

 

What You Need to Know:

• Automatic Transition: The changes will be made automatically, so there is nothing you need to do to make the switch.

• Upcoming Information: You will receive more detailed information electronically shortly. We will also be sending out a formal notice to all employees with an email address on file.

 

A Reminder About Your 401(k) Match:

As a reminder, the company matches 100% of the first 3% of your contributions and 50% on the next 2%—for a total company match of 4%. Be sure to take full advantage of this match to maximize your retirement savings!

We are excited about these changes and believe they will offer you more flexibility and cost-effective options for your retirement planning. Please stay tuned for further communications and feel free to reach out to HR with any questions.

​