NEW 401(k) Offering

CHR Managed Communities

NEW 401(k) Plan Offering

We are pleased to announce that your owners have adopted the Prestige Care 401(k) Plan, administered by Empower Retirement, as part of the Prestige Plus Benefits Suite for Managed Communities. Please continue to read this notice for more information regarding eligibility, timing and educational resources.


ELIGIBILITY

All team member's at CHR communities are eligible to participate in the plan first of the month following 60-days from Jan 1, 2016 for an effective date of April 1, 2016.


New hires that joined CHR Jan 1, 2016 and beyond will be eligible for the plan first of the month following 60-days of employment.


A FEW PLAN HIGHLIGHTS

  • Rollover retirement funds from other qualified retirement plans are accepted
  • Includes owner matching contributions, after matching criteria is met
  • Deductions may be taken in whole percentage amounts up to 100% of eligible employee compensation
  • Enrollment, changes and account management is handled online and available 24/7
  • Beneficiaries for the 401(k) plan must be entered/changed online through Empower Retirement; Life Insurance beneficiaries may be elected/changed through the Benefits Team at Central Support
  • Letters with enrollment information will be mailed to eligible team members home mailing addresses in March, however enrollment online without a PIN is available
  • Once the team member becomes eligible for the plan they may enroll or make changes up to one-time per pay period via the online system through Empower Retirement


Please note: at this time matching contributions and vesting eligibility are based on the date of plan adoption January 1, 2016 and not prior hire dates before Jan 1.

Education and Materials

A 33 minute retirement plan video and information may be found online through Prestige Connect at www.PrestigeCare.com/Connect at any time.


Free Financial Advice from Wells Fargo Advisors

We have partnered with a third party advising firm through Wells Fargo which offers free financial planning advice to all team members. Team members may reach an advisor by calling 844-206-4015. This information is also included on the poster mailed to your community. Note: this resource is for financial planning only and not for navigating the Empower Retirement website.

Posters and Login Instructions

On Wednesday, Feb 10, we mailed posters and login instruction flyers to each CHR location for posting and distribution. Please post and make these flyers available in a common team member area such as the break room.

Updated Benefit Brochures

The Managed Communities Benefit Brochures for 2016 have been updated to reflect the 401(k) Retirement Plan. Please use these updated brochures located on the X Drive > HR & Benefits > Benefits, LOA & ADA > 2016 Benefits > Benefit Brochures > MNG Brochure.


These brochures are accompanies by the Health Care Reform IRS mandated notice and the Benefits Acknowledgement form which is to be distributed to all employees upon hire, rehire and status change.

Prestige Plus Benefits Team

For additional questions and support to you and your team members, please contact the Benefits Team


Monday - Friday

7:30am - 4:30pm Pacific