Per the 401k Plan’s provisions, on July 1 of each year Misericordia will increase the Automatic Salary Reduction Contribution by 1% for those who have not opted out of this plan provision. This automatic salary reduction will take place until the plan year in which your contribution equals 10%, unless you wish to increase the amount beyond 10%. For those who have previously opted out of the automatic increase and would like to turn it back “ON”, follow the steps below. Please note: All changes to your salary reduction contribution need to take place through Correll Co’s online portal at www.correllco.com by June 30.
To verify if you are registered for the Automatic Increase, please login to your Correll Co account at www.correllco.com.
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Select “Manage”, “Manage Investments”, then select “Change Contribution”
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If auto increase is ON and you would like to turn it OFF, select “Edit Pre-Tax”, select “Change Contributions” and slide the radio button to “OFF”. Continue to follow the prompts until complete.
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If auto increase is OFF and you would like to turn it ON, select “Edit Pre-Tax”, select “Change Contributions” and slide the radio button to “ON”. Continue to follow the prompts until complete.
Website: www.correllco.com
Participant Line: 800-876-7160
Additional information regarding the Automatic Increase will be forthcoming.
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