Your Choice 401(k) Plan
Most active members have two PERSI accounts:
Base Plan - this is your regular, mandatory PERSI plan. Your Base Plan is a Defined Benefit plan, meaning your retirement benefit is based on a defined formula.
Choice 401(k) Plan - this is your PERSI account that you may contribute to voluntarily. It contains gain sharing distributions, any voluntary contributions you make, rollovers you may make from other plans, possible employer contributions, and the earnings on those funds. Your Choice Plan is a Defined Contribution plan, meaning the amount you receive at retirement is based on the contributions and earnings in the plan.
My Choice 401(k) Plan Account - Access your account or request a PIN reminder letter here or by phone (toll-free 1-866-437-3774). You may view account balance details (total, vested amount, by funds and by source), review plan guidelines and fund details. You may also make changes to the allocation of current and future contributions, request PIN changes and order materials. If you're eligible for a loan or withdrawal, submit your request online via the "Actions" tab once you've logged onto your account. PERSI's partner for Choice 401(k) Plan Record Keeping is Xerox HR Solutions
|Choice 401(k) Plan Informational Materials and Forms|
|Quarterly Fee and Performance Summary||This is the quarterly performance status of the funds in the PERSI Choice 401(k) Plan.|
|Request an Enrollment Kit||An e-mail link to request a Choice 401(k) Plan Enrollment Kit, which includes an Enrollment Form, Fund Transfer Worksheet, and Fund Summaries from all investment options.|
|Choice 401(k) Plan Deferral Election Brochure||Members can boost their retirement security by making voluntary contributions to a retirement savings account designed to supplement their Base Plan. The brochure explains how to start, stop or change payroll deductions for tax-deferred contributions to the PERSI Choice 401(k) Plan.|
|Choice 401(k) Plan Deferral Election Form||You may begin voluntary contributions to the Choice Plan at any time (depending on your employer's ability to accept voluntary contributions). To begin contributions, complete this Enrollment Form and return it to your Payroll Clerk.|
|Choice 401(k) Plan Comparison Chart||Unlike many workers, you have a choice when deciding how to save for retirement. The comparison chart summarizes and compares some of the main features of each of the retirement savings plan options available to you.|
|Choice 401(k) Plan Guide||This 30-page guide is designed to help cut through the financial confusion and explain in detail some of the basics of investing in simple terms.|
|Choice 401(k) Plan Highlights||This 10-page brochure explains the specifics of the Choice 401(k) Plan including contributions, rollovers, election changes, in-service withdrawals, loan features, investment options, distribution options, and record keeping fees.|
|Choice 401(k) Plan Legal Document||The articles which define the legal framework and rules for the Choice 401(k) Plan.|
|Choice 401(k) Plan Fund Transfer Worksheet||The PERSI Total Return Fund is the default investment fund. If you want to transfer money from that fund into the other 11 investment fund options, use this handy worksheet. Changes can be made via this Web site or by calling the toll-free number (1-866-437-3774). Have your Social Security Number and PIN handy.|
|Defined Contribution Plan Limits Calculator||Online calculator for testing your contribution limits for the calendar year.|
|Request to Contribute Rollover Funds to the Choice 401(k) Plan||The Choice Plan accepts rollover contributions from other qualified retirement plans. Instructions and additional information are included with the form to guide you through the process.|
|Choice 401(k) Plan Request for Death Benefit Payment||Use this form to certify you are a beneficiary of a deceased Choice 401(k) Plan
participant and to request payment of the deceased participant's Choice 401(k) Plan funds.
Instructions and important tax information are included with the form.
|Choice 401(k) Plan Request for Installment Payments||Use this form to request to receive your distribution of funds in the Choice 401(k) Plan in monthly installment payments. (If you are a beneficiary of a deceased participant, use Form RS807, Choice 401(k) Plan Request for Death Benefit Payment.)|
|What Happens to Your Choice 401(k) Plan Money When You Retire?||This document helps members understand the distribution options for their Choice 401(k) Plan money at retirement.|
Choice 401(k) Plan Investment Options - Summaries of the various of investment options available to you, and links to fund sites.
Choice 401(k) Plan Investment Policy - The Choice 401(k) Plan is intended to be a long-term investment vehicle rather than a platform for speculative investment activities. To see the plan's investments policy follow this link.
Choice 401(k) Plan Trading Restrictions - Rapid trading practices by a small number of Choice 401(k) Plan participants triggers Retirement Board to make changes to 401(k) investment policies.