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Retirement plan next steps

Rick Fernandez
over 5 years agoDecember 6, 2016
Page 1
Some obvious questions:  (1) what does it mean to "freeze" the plan?  (2) why was the plan frozen?  (3) the article mentions what didn't change, but it's unclear what did change.  (4) the article mentions "minimum impact".  So what is that minimal impact?  (5) are there any decisions or actions employees need to consider?
Lori Kainer
over 5 years agoDecember 6, 2016
I noticed that my normal 6% contribution did not come out on the last check.  The above letter does not say when the plan was frozen and that the contributions would be frozen.   Questions: 1. Have you changed the employee contribution?  Have you changed your matching contribution from 6% to 3%?   2. who do we contact if we have questions? 3. Will we need to sign up to start contributing again.
Lori Kainer
over 5 years agoDecember 6, 2016
I meant to ask what date was the plan frozen.  Are the contribution amounts changing from 6% to 3%.
Isabel Hormel - Retirement/HR Asante
over 5 years agoDecember 6, 2016
Lori - In looking at your 12/2 check, I do see your 403b contribution.  I am not certain how confidential this page is, so I am going to take a snapshot of your check and send it to you via your Asante email address.

To answer your questions above, however - no, Asante cannot change the employee contribution; that can only be done by the Employee.   You are always welcome to contact me if you have questions.  My name is Isabel Hormel, and my phone number is 789.4610.  The Asante match amounts are not changing at all - they will remain at a 'base' 3% of eligible wages, and a 'match' contribution up to a maximum of an additional 3%, which is based on what the Employee is deferring.

I hope this helps answer your questions, but please feel to contact me if I can help with anything else.
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