Quality Systems Integrators 401(k) Plan
401(k) Automatic Enrollment Notice
Eligibility: If you are over the age of 21 you can enter the plan quarterly after 12 months of service (and having worked 1,000 hours or more during that 12 month period). This is detailed in Section Two: ‘Eligibility’ of the Plan’s General Information Sheet.
Automatic Enrollment: The QSI plan is an automatic enrollment 401(k) plan. This means that you will automatically be enrolled in the 401(k) plan unless you opt out. To opt out please complete an OPT OUT FORM and email the form to Christi or our payroll contact Scott Thornton at scott@satcpa.net.
Automatic Enrollment – Deferral Rate: When enrolled 3% of your pay will be automatically deducted from your paycheck and be deposited into your 401(k) account. You will also receive a match. Over the next three years, on each anniversary, your 401(k) deferral rate will increase by 1% until it reaches 6%. This is detailed in ‘Section Three: Contributions’ of the ‘General Information Sheet’.
Opt Out or Change Deferral Rate: You can opt out of the Automatic Enrollment process and choose A) not to participate or B) to participate at a different deferral rate. Making these changes is a payroll function so you will need to communicate your wishes to us so we can make sure they are correctly reflected in the payroll system.
Internet Access: Once your first deposit has been made, you will show up on the Paychex system. If you need assistance please contact Paychex Participant Services at 877-244-1771.
Please note:
This notice constitutes your 401(k) Automatic Enrollment Contribution Notice.
You will automatically be enrolled in the Plan unless you opt out (after the 1 year waiting period of course).
After your 1 year anniversary you can enter the Plan quarterly; January 1, April 1, July 1, October 1.
Please email Gerald Asplund the Plan’s Investment Advisor if you would like a copy of the Plan’s General Information Sheet. His email is geralda@highcroftinc.com.
You will need to communicate with Scott Thornton at scott@satcpa.net in order to make changes to your 401(k) deferral.
To gain access to your 401(k) account you will need to log in at paychexflex.com (if you have problems you can use their chat feature or you can call the Paychex Participant Support Team at 877-244-1771).
IMPORTANT: in order to gain log in access at Paychex your mobile phone needs updated in their system, otherwise you will not be able to complete the dual authentication process. QSI or Scott can update your phone number in the Paychex system.