Effective January 1, 2019, there will be some updates to the National Life Group 401(k) plan.
- 2019 National Life Interest Account Rate
The 2019 rate for the Interest Account remains at 3.10%. This rate is applied to all money invested in the interest account only and does not pertain to money in mutual fund investments within the plan. Please remember that funds in this account are assessed an administrative fee of 10 basis points (0.1%) annually. This rate is reviewed and subject to change annually.
- 2019 Deferral Limits
The 401(k) Plan deferral limit for 2019 is $19,000.
- 2019 Catch-Up Contributions
Employees age 50 and over can contribute up to an additional $6,000 catch-up contribution. If you currently make catch-up contributions, they will continue through 2019.
- 2019 Annual Recognizable Compensation
The maximum annual recognizable compensation for 2019 is $280,000.
- 2019 415 Defined Contribution Limit
The total limit you can contribute between your pre-tax or Roth contribution, company match, and after-tax contributions for 2019 is $56,000.
- Prudential Retirement
You can log onto the Prudential Retirement portal at www.retirement.prudential.com. If you have any questions, please feel free to call them at 877-778-2100 with any questions.
- Beneficiaries
If you have not completed your beneficiary information on the Prudential Retirement portal, you will want to log into your account to choose your beneficiaries.
If you have any questions regarding any of this information, please email Lorraine Bishop me at lbishop@nationallife.com or call me at 229-3177.