[All_staff] TIAA-CREF 401(k) GSRA Open Enrollment ends today, December 12

[Joshua Cameron]

Attention All Regular and Term Employees: 

The 401(k) Group Supplemental Retirement Annuity (GSRA) Open enrollment for Calendar Year 2015 ends today Friday, December 12, 2014 at 5pm. All elections will be reflected in the January 15, 2015 paycheck. Human Resources is providing web-based enrollment for your convenience. 

To access the 401(k) GSRA enrollment link, go to the Lab's Insight page, under Announcements. Or you may follow this link: https://mis.jlab.org/mis/apps/hr/gsra_enrollment/ 

DO YOU NEED TO ENROLL? 

    * If you wish to contribute more or less than the 5% default contribution, or opt-out of this program, you must enter the on-line system no later than close of business today (5:00pm) December 12. 

WHAT HAPPENS IF YOU DO NOT ENROLL? 

    * If you do not enter the on-line system prior to close of business today (5:00pm) Friday, December 12, 2014 you will automatically be enrolled in the default employee 5 % contribution plan that is based on your current salary. 


Important Updates 

    * Effective January 1, 2015 benefits eligible employees’ 401(k) contribution provided by the Lab will be reduced from 10% to 9% of your eligible compensation. Eligible employees will remain 100% vested in the employer paid 9% contribution as in the past. 

The 401(k) GSRA 2015 Annual Contribution Limits are as follows: 

    * Voluntary Employee Contribution - $18,000 
    * Catch-Up Allowance (50+ years of age) an additional $6,000, totaling $24,000 maximum 
    * Total annual maximum contribution from the employee and employer is $53,000 


If you have questions, please contact Treva Ferguson (x 7291) or Doug Roeder (x 7576). 

Regards, 
Rhonda 
Human Resources 

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