Account Realignment

realignment occurs when the participant changes the percentage of money allocated among the various fund offerings in the plan. A participant’s account can be realigned for the current balance

Employee After-Tax Voluntary

voluntary contributions made by an employee to his/her retirement plan after taxes have been withheld. This does not include after-tax contributions required in a Pension or Profit-Sharing plan

Employer Discr Match (Employer Discretionary Match)

a type of employer contribution in which an employer can match a portion of the employee’s contribution, but is not required to do so on an annual basis

Employer Match

the amount, if any, a company contributes on an employee`s behalf to the employee’s retirement account. The amount is tied to the employee’s own contribution.

Employer Fix (Employer Fixed Contribution)

a type of employer contribution that is usually based on a percentage of the employee’s salary and is made regardless of what the employee contributes to the plan

Employer Fully Vest

employer contributions that are fully vested. Examples would be a QNEC (Qualified Nonelective Contribution) or a rollover from a former plan in which the employer contributions were fully vested.

Entry Date

date that the participant became eligible to participate in the plan

Exchange Type

the type of contribution (i.e., employer, employee, after-tax or all) that a participant wishes to realign or transfer to another fund

Fee

any money withdrawn from the participant’s account to pay for the administrative costs of the retirement plan

any earnings gain or loss on the participant’s account balance due to daily market fluctuations

Hardship Withdrawal

a withdrawal based on a specific hardship need: medical care for the employee, spouse or dependent; purchase of a primary residence; post-secondary educational expenses for the employee, spouse or dependent; prevention of the employee from his or her principal residence or foreclosure on the mortgage of that residence; burial or funeral expenses for an employee’s parents, spouse, child or dependent; or expenses for the repair of damage to the participant`s principal residence under Code Section 165. Code 165 specifies that damages must arise from fire, storm, shipwreck, other casualty or damage from theft.

Interfund Transfer

moving all or a partial amount of money in the participant’s account from one fund to another

Mandatory

contributions that an employee must make to their retirement plan as required by his/her employer to participate in the plan

Market Value

the price at which a security is trading and could presumably be purchased or sold

a number, which along with the User ID, is used by the participant to access his/her PlanWeb account

Pre-Tax Deferral

monies contributed by the employer on behalf of the employee as a pre-tax contribution to his/her 401(k) plan

Price

the amount that each share is being sold for

Profit Sharing

contributions that are made by the employer based on the company’s profits for any particular year

occurs when assets are transferred from one qualified retirement plan or IRA to another

Status

Active Status Codes:

00 – Active and Eligible – the participant is eligible for contributions

02 – Rehire; Prior Termination – the participant had terminated employment, but was rehired and is now eligible for contribution

03 – Ineligible – the participant is not eligible for contributions

04 – Eligible; Not Participate – the participant is eligible but is not currently participating in the plan

06 – Break in Service – the participant is on a leave of absence from the employer

Suspended Status Codes:

10 –Suspended from EE Contributions only – used in instances of hardship withdrawals – the participant is suspended from making contributions

16 – Suspended from Forfeiture Allocations and EE and ER Contributions – used in instances of a QDRO (Qualified Domestic Relations Order) or alternate payee - the participant is suspended from making contributions and from receiving forfeiture allocations and employer contributions

Terminated Status Codes:

20 – Retired and Receiving Installments– the participant is retired and is receiving installment payments

30 – Terminated and Awaiting Payment – the participant terminated employment, requested a termination withdrawal and is awaiting payment on that request

31 – Terminated and Paid Out – the participant terminated employment, and requested a termination withdrawal, which has been paid out to him/her

32 – Terminated with Payment Deferred – the participant terminated employment, and requested a termination withdrawal which will be paid out to him/her at a later date determined by the participant

Termination Date

date that a participant separated service from his/her employer

Termination Withdrawal

a withdrawal made when an employee separates service from his/her employer

Transfer-In and Transfer-Out

refers to monies in the account moving into and out of the various funds due to either interfund transfers or a loan

Units

number of shares

User ID

a participant’s Social Security Number, which along with his/her personal identification number (PIN) is used to access to the PlanWeb account