401(k) Plan

CNL Managed Communities

401(k) Plan Updates

This notice is regarding information and eligibility under the Prestige Care 401(k) Plan.


ELIGIBILITY

All team member's at CNL communities are eligible to participate in the plan first of the month following 60-days of employment. Thereafter team members will be able to enroll at any time and make changes to their contribution elections up to one-time per pay period.


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
  • 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

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