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<p>Personal savings is an important part of everyone’s retirement income. The Health Alliance 401(k) Retirement Savings Plan is designed to help you build future financial security while taking advantage of current tax laws. You may enroll anytime after you become an eligible associate. You may contribute 1% up to 100% of eligible salary [subject to Internal Revenue Service (IRS) limitations] on a pre-tax basis. </p> <p>By making pre-tax contributions to a 401(k), you reduce your taxable income by the amount you save. Since taxable income is reduced, you will pay less current federal income tax as well as less state tax income tax (in most states). You will not be required to meet any tax obligations on your contributions or the investment growth of your account until it is paid out to you. You direct the investment of your contributions among the various funds provided under the plan. You are always 100% vested (ownership) in your contributions. </p> <p>The 401(k) Retirement Savings Plan has a loan provision which gives you access to your vested account balance for any reason. The minimum loan amount is $1,000. The maximum amount is 50% of your vested account up to $50,000. The interest rate is based on prime rate plus 1% and is fixed for the life of the loan. </p> <p>Withdrawals are also available, with certain restrictions, while you are an associate. If you are under age 59 1/2, withdrawal of pretax contributions is restricted to qualified financial hardship as defined by the IRS. </p> <p>You can access information on the investment funds and your account, transfer existing balances, change fund elections for future contributions, obtain a loan and other general information any time by using the Internet site, <a href="http://www.principal.com" target="_blank">www.principal.com</a> or by calling toll free, 1-800-547-7754. Gradison financial advisors are available to help you make investment selections and design a comprehensive financial plan for the future.</p>
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