Northeast Data

401k Plan

After 3-months of employment or 250 working hours, new Northeast Data employees will be automatically enrolled into the company 401K program. Full Time Employees who work 250 hours, employed for 3 months, and are over 21 years old will be automatically enrolled the program. The program is currently with Principal Financial. The 401K plan has an auto increase of 1% annual until a Maximum of 5% is reached. You may cancel this auto enrollment or auto increase by opting out of these choices shown at the bottom of this benefit page.

The Matching formula is as shown below:

Employee Contribution Employer Contribution
0% 0%
1% 1%
2% 2%
3% 3%
4% 3.5%
5% 4%
6+% 4%

The vesting schedule for the matching contributions are as follows:

Years of Service Employer Contribution
1 0%
2 20%
3 40%
4 60%
5 80%
6 100%

Normal Retirement age under the plan is age 65.

To set up your account:

Note: If you already have a Principal Financial account created for Group Life Insurance Benefits, your login credentials will be the same.

  1. Go to: https://www.principal.com/
  2. Choose Log in to “Employer Retirement Plan”
  3. Click “Register”
  4. Create a new account by verifying your Social Security Number, Last Name, Zip Code, and Date of Birth
  5. You will then receive a verification code sent via either email or text
  6. Once the verification code has been entered, you will return to the Log In screen to create your new credentials.

To Opt-Out of Auto-Increase:

To Opt Out of the 401K but keep the plan open for future contributions

For help on 401K Selections, please contact:

Christopher Brett Montich

cmontich@1creative.com

Phone: 610-832-3745

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