401(k): Empower Retirement
You are eligible to contribute to the 401(k) plan after reaching one month of service. Upon meeting the eligibility requirement, you will be automatically enrolled with a 3% deferral, unless an election is made otherwise. You will receive an enrollment packet in the mail when you become eligible.
If you elected into the WoodmenLife pension plan (this option was not available for associates who joined WoodmenLife after 2006), you may participate and make contributions to the 401(k) plan, but you will not be eligible for the matching and service-related contributions.
If you were hired after Oct. 1, 2006, or if you elected not to continue participating in the pension plan, WoodmenLife will match your contribution, dollar for dollar, up to 5% of your eligible compensation. 100% of your contributions are always vested.
The information on this page is a partial description of benefits, limitations, exclusions, and other provisions of the group benefits provided by Woodmen of the World Life Insurance Society (WoodmenLife). If there is a difference between the information in this summary and the plan document for each plan, the plan documents govern. Eligibility requirements apply to each of the benefits offered, criteria may include employment status and/or individual qualifications. For more detailed information, refer to the Summary Plan Description of each plan. WoodmenLife may amend these plans at any time. The description of the plan is not a guarantee of benefits and should not be construed as such.
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