Posted:
August 17, 2018
AMO 401(k) Plan participants will soon be receiving in the mail the Summary Plan Description (SPD) booklet that explains the benefits of your American Maritime Officers 401(k) Plan. The SPD booklet includes information regarding eligibility and the advantages of participating in the 401(k) Plan.
Your participation in the 401(k) Plan is a major factor for your retirement future. If you are not currently enrolled in the 401(k) Plan, but would like to participate in having additional savings for retirement, please take a minute to review the 401(k) quick start guide and complete and submit the AMO 401(k) enrollment form to the Plan office.
AMO 401(k) Plan highlights include:
Tax Savings
There are tax advantages to saving toward your retirement in the AMO 401(k) Plan on a pre-tax basis. This means you realize a reduction in your income taxes. That is because the amount you contribute to the plan will not count as part of your taxable income. Pretax savings can be a significant benefit, so it generally makes sense to save as much as you can afford.
Tax-Deferred Growth
"Tax-deferred" means your investments and the earnings on your investments are not subject to taxes until withdrawn. Tax deferral is important because your investments have the potential to experience considerable growth when allowed to compound tax-free over long periods of time.
Account Portability
You may be able to transfer money from another retirement plan into your new account, or, if you leave the employment of your company prior to retirement, you may be able to transfer your account to another plan or IRA.
You can also visit the American Maritime Officers Plans website. A link to a digital copy of the SPD for each benefit plan is available on the title page for each plan on the website. The 401(k) Plan SPD can be accessed on the AMO 401(k) Plan title page.
If you have any questions concerning your benefits under the American Maritime Officers 401(k) Plan, please contact the Plan office at 800-348-6515 Ext. 14 or via .
AMO Plans: Summary Plan Description for AMO 401(k) Plan mailed to participants
AMO 401(k) Plan participants will soon be receiving in the mail the Summary Plan Description (SPD) booklet that explains the benefits of your American Maritime Officers 401(k) Plan. The SPD booklet includes information regarding eligibility and the advantages of participating in the 401(k) Plan.
Your participation in the 401(k) Plan is a major factor for your retirement future. If you are not currently enrolled in the 401(k) Plan, but would like to participate in having additional savings for retirement, please take a minute to review the 401(k) quick start guide and complete and submit the AMO 401(k) enrollment form to the Plan office.
AMO 401(k) Plan highlights include:
Tax Savings
There are tax advantages to saving toward your retirement in the AMO 401(k) Plan on a pre-tax basis. This means you realize a reduction in your income taxes. That is because the amount you contribute to the plan will not count as part of your taxable income. Pretax savings can be a significant benefit, so it generally makes sense to save as much as you can afford.
Tax-Deferred Growth
"Tax-deferred" means your investments and the earnings on your investments are not subject to taxes until withdrawn. Tax deferral is important because your investments have the potential to experience considerable growth when allowed to compound tax-free over long periods of time.
Account Portability
You may be able to transfer money from another retirement plan into your new account, or, if you leave the employment of your company prior to retirement, you may be able to transfer your account to another plan or IRA.
You can also visit the American Maritime Officers Plans website. A link to a digital copy of the SPD for each benefit plan is available on the title page for each plan on the website. The 401(k) Plan SPD can be accessed on the AMO 401(k) Plan title page.
If you have any questions concerning your benefits under the American Maritime Officers 401(k) Plan, please contact the Plan office at 800-348-6515 Ext. 14 or via .