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RETIREMENT SAVINGS PLAN
Employees may also participate in the EIS 401(k), which is
a retirement savings plan for the benefit of the employees. EIS
has partnered with Paychex and
Fidelity Investments
to provide an excellent opportunity for employee-directed retirement
saving. Fidelity is an established investment company with funds commonly
performing at the head of the financial markets. Within the 401(k)
Plan, each employee has his/her own investment account. The employee
decides a salary deferral rate of 1% to 12%, chooses from one
or more of the Fidelity funds below, and how to allocate the deferral
among the chosen funds. For each dollar the employee defers,
EIS will contribute (match) another fifty cents to the employee
account up to a 6% deferral rate. The employee directs the investment
of both employee and employer contributions. Loans may also be
taken against your 401(k) account with the interest being paid
back to your 401(k) account. Further information can be found
in the Enterprise Information Solutions, Inc. Profit Sharing and
401(k) Plan Summary Plan Description. Highlights
Maximum Deferral: The employee may defer up to 12% of
his/her salary each payroll period to the IRS-imposed maximum
($10,500 for 2000).
Company Matching: EIS will match $0.50 on each $1.00 up
to 6% of the employee's contributions.
24 hour 800 number: EIS employees can call 1-800-401-3999
to check on their 401k account balances, transfer funds, change fund
allocations, change pay deferral percentages, obtain fund performance,
request account statements, request a prospectus, and more! Fidelity Advisor Funds:
Vesting: The vesting schedule for employer contributions is as follows:
You are always 100% vested in your own contributions.
Eligibility: To be eligible for participation in the EIS
401(k), the employee must complete 1 continuous year of service
and be over 21 years of age.
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