We recommend that you consult your Plan's Summary Plan Description for details on your Plan’s Eligibility and Entry provisions. In general, most Retirement Plans have both an age and a service requirement that must be met before an Employee may enter a Plan and begin participating. Some Plans require Employees to be at least a certain age before joining, such as 18 or 31; others do not have an age requirement. Some Plans require Employees to have completed a certain minimum period of employment before joining; such as 12 months, 6 months, 90 days, or 30 days; others do not have a service requirement where Employees become eligible the day of their employment. In addition to the age & service Eligibility requirements, some Plans have Plan Entry Provisions which stipulate when an Employee who has already met the age and service requirements (if any) may enter the Plan and begin making salary deferral contributions (a.k.a. open enrollment or enrollment window). Examples of common Plan Entry Provisions include semi-annual entry, quarterly entry, monthly entry or immediate entry.
What are my Plan's Eligibility and Entry provisions? Print
Modified on: Thu, 4 Jun, 2020 at 1:30 AM
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