Participation

Overview

If you are an eligible Employee, you may begin participating in the Plan as soon as administratively possible following your completion of a 401(k) Enrollment / Contribution Change Form.

401(k) Enrollment / Contribution Change Form

Summary Plan Description

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Savings Highlights & Contribution Limits

Overview

You may contribute to the Plan, up to a specified per hour amount as pre-tax and/or Roth contributions, in accordance to limits set by the Federal tax laws.

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Payment Options

Overview

At the time you turn age 59 ½ years, or 6 months after you stop working in covered employment and, following receipt of your application for benefits, your account balance will be paid in a single-sum payment as soon as administratively possible.

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Withdrawal Rules

Overview

Retirement

The Account of a Participant who is (was) a Non-Collectively Bargained Employee shall become distributable once the Participant has a separation of employment with the Employer (including separation due to retirement, Disability or death).

Loans

The Plan allows you to borrow against the value of your account balance. It’s a way for you to borrow your own money. 

Hardship

Under the Plan, you are permitted to withdraw a portion of your account if you experience certain financial hardships.

Summary Plan Description

John Hancock Account Maintenance

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