As announced in June, as part of the new Collective Bargaining Agreement, the National Benefit Fund (the Fund) will be providing a one-time matching contribution of up to 1% of annual base pay to the 401k accounts of BFSA staff who contributed to the 401(k) Plan in 2016.
As the last payroll of 2016 has been processed, the Human Resources Dept. will begin calculating the matching contribution for those BFSA staff who are eligible to receive it. This process should be completed within the next 7 – 10 business days.
When the Fund remits the matching contribution to Principal Financial (our 401k Provider), it will be deposited in the applicable investment funds based upon on the investment allocation on file for each eligible BFSA Staff member. Please note that participants can change the investment allocation of 401k contributions as often as they like by visiting the Principal website at www.principal.com or by calling the Principal’s Customer Service line at (800) 547-7754.
If you have any questions please email Richard Kral in Human Resources at Richard.Kral@1199Funds.org.
Thank you,
Benefit Fund Staff Association