When Can I Start Contributing to My Retirement Plan?

In order to start contributing to your retirement plan, you will need to satisfy the eligibility requirements to participate as outlined by your specific plan.  Once you have satisfied those requirements, you will then enter the plan, when you can begin contributing, on a date also determined by your plan.

Specific eligibility and entry requirements for your Plan with Howard Simon are outlined in the Summary Plan Description for your Plan.

You can access the Summary Plan Description online using the HowardSimon Retirement Portal. If you do not have access to the website yet, please reach out to your Human Resources Department or contact us at [e-mail] or [phone] for a copy.

Once you have logged into your account, from your dashboard select the Documents & Reports menu and then Documents/Forms.

In the Documents/Forms window, expand the Form Group: Plan Forms and then select Summary Plan Description.  The file will automatically download.

For information regarding Eligibility and Entry dates, reference Appendix I - Participation in the Plan at the beginning of the Summary Plan Description.

To become Eligible to contribute to the plan, you typically need to satisfy a work requirement, for example, three months of service, as well as an age requirement, usually age 21.  Once you have met those requirements, you are Eligible to participate in the Plan. 

However, once you become Eligible, you will not Enter the plan until the entry date specified in the Summary Plan Description, for example, the first day of the month coinciding with or the next one after you have met eligibility.

EXAMPLE: Eligibility requirements of three months of service, and age 21; Entry is the first day of the month coinciding with or the next one after you have met eligibility.

Hire Date: 4/7/23

Eligibility Date: 7/7/23

Entry Date: 8/1/23

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