401(k) Profit Sharing Plan

401(k)

NWPS Benefits

Lemek LLC offers the opportunity for you to begin saving money for retirement. The 401(k) retirement savings plan allows you to contribute any amount you wish up to the IRS annual maximum through payroll deductions each pay period.

Lemek LLC provides a discretionary match of 25% up to 6% of your pretax earnings contributions into the 401(k). Earnings from plan contributions (yours and Lemek LLC’s) are tax-deferred until they are distributed from your 401(k) account.

When You Are Eligible

You are eligible to participate the first quarter following one year of service, if you work at least 1,000 hours, from your date of hire. You must be 21 years or older to enroll.

How to Enroll

When you are eligible to enroll in the plan, enrollment materials will be mailed to your home. The information will provide all of the plan details and enrollment instructions.

You can also contact Human Resources or NWPS Benefits for enrollment details.

When You Are Vested

The term “vested” refers to your ownership of the money in your account. Your own contributions are always 100% vested. Lemek LLC’s matching contributions are vested 20% per year of service. Participants are fully vested after they have been credited with 5 years of Vesting Service or tenure with the company.

Your Investment Options

Your investment choices include 21 lifestyle funds plus 9 target date fund arrangements.

How You Access Information

You have access to your account information in many ways:

Quarterly Account Statements.
Toll-free telephone access is available by calling NWPS Benefits at 888-700-0808.
You can speak to a representative between the hours of 9:00 a.m. and 8:00 p.m. EST, Monday –Friday.
For web access: www.yourplanaccess.net/nwps/

Loans

Should you need to access your money, loans are permitted, with a minimum amount of $1,000 not to exceed 50% of your vested balance or $50,000. However, you cannot have more than one loan outstanding at a time. To apply for a loan call NWPS Benefits at 888-700-0808 or online at www.yourplanaccess.net/nwps/.