• Who can I talk to about my retirement plan?

If you have general questions regarding your retirement plan account, you may contact you company’s Benefits Manager. If you have investment related questions regarding your retirement plan account, you may contact your company’s Financial Representative. If you need assistance in identifying either of these individuals, Trinity can provide you with their information.

• How much can I contribute to my 401(k) plan this year?

The maximum 401(k) deferral amount for 2009 is $16,500. If you are 50 years of age or older you may make an additional “catch up” contribution of $5,500. The 2009 limits are listed here.

• Can I roll my retirement account from my previous employer into my new 401(k) plan?

If your plan document allows for rollovers (most do), you are permitted to roll over your account balance from your previous company’s retirement plan into your new company’s plan. Your rollover option is outlined in your retirement plan Summary Plan Description (SPD).

• Can I take a loan from my retirement plan account?

If your plan document allows for Loans to be taken from plan, you may be permitted to take a loan under certain conditions. Loans can be attractive because you are permitted repay the loan amount to your own account without penalty. Typical conditions for loans include: purpose of loan, maximum permitted amount, interest rate, repayment terms, etc. Your loan policy should be included with your retirement plan Summary Plan Description (SPD).

• Can I take money from my retirement account if I’m in financial stress?

If your plan document allows for In-service Hardship Withdrawals, you may be permitted to take a withdrawal under certain conditions. Hardships can be attractive because you do not have to repay the amount back; however, there is a 10% penalty. Typical conditions for a hardship include: type of hardship, money types available, etc. Your distribution options available are outlined in your retirement plan Summary Plan Description (SPD).

• Can I take money from my retirement account before I retire?

If your plan document allows for In-Service Withdrawals to be taken from plan, you may be permitted to take a withdrawal before you retire under certain conditions. In-Service Withdrawals can be attractive because you are permitted to take a withdrawal without penalty. Typical conditions for an in-service withdrawal include: attaining age 59 ½, money types available, etc. Your distribution options available are outlined in your retirement plan Summary Plan Description (SPD).

• Is there a tax penalty for taking withdrawals from my 401(k) account early?

If you take an In-Service Hardship Withdrawal or Cash Out your retirement account upon termination, a 10% penalty will be applied. There are limited instances where you can withdrawal money without penalty. Your distribution options available are outlined in your retirement plan Summary Plan Description (SPD).

• I took a distribution from my retirement account but I didn’t get all of the money that was there – why?

In a typical 401(k) plan any contribution that has been made by your employer is subject to a vesting schedule. This means if you terminate employment before a specified date, you will forfeit a certain amount of the employer contribution. Your vested amount is the amount you will not forfeit upon termination. Your vesting schedule is outlined in your retirement plan Summary Plan Description (SPD).