401K Enrollment Information
1099 employees are not eligible for 401k.
General Information
The 401(k) Savings Retirement Plan is administered through ADP Retirement Services. Epitec matches 25% per dollar of employee contribution up to the first 6% of your gross wages. We also offer a Roth IRA deferral option (post tax). Eligibility and participation will be effective on the first day of the month following your hire date. For example, if you are hired on August 17th, your eligibility date would be September 1st."
Financial Management:
Epitec has engaged Morgan Stanley to help manage your savings and retirement choices. As licensed financial advisors, Morgan Stanley will be available to provide you with information to make good financial decisions for you and your family’s future. You can contact Epitec's Financial Advisors at 248-988-2383.
To enroll in the 401(k):
Log into ADP workforce now and click on the myself tab, benefits, retirement savings, it will take you to the 401k page. When you click in there to enroll and follow the steps it will let you see all of the plans.
For 401(k) Transfers and rollover:
You will need to sign the rollover form in ink and scan it back to us. We can then have our plan administrator sign the document. The plan number is 471510 , if you have any further questions Customer Service line for ADP at 866-695-7526. Please reference the plan number when you call. Once both signatures are obtained, we will send this to ADP for processing.
Contribution:
The maximum annual contribution for 2023 is $22,500
For over the age of 50, you are eligible for an additional $7,500 in catch up contributions, for a total of $30,000.
For more information, please view this article: 401k Rollover Form & Process
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