Dear R.G.U.S. Employee;

You will soon be receiving some material about Illinois Secure Choice, a state provided retirement plan. With this plan, 5% of your salary will be deducted from your paycheck and placed in a retirement account in your name. You can choose to participate or “Opt Out” of this program so that the automatic withdrawal will not happen. If you have questions please call Secure Choice at 855-650-6913 or R.G.U.S., Inc. at 224-904-3309 for assistance.

In order to replace Illinois Secure Choice, we are happy to announce that beginning October 1, 2019 we will have an R.G.U.S., Inc. 401(k) Retirement Savings Plan which will allow you to save money for retirement. In addition, R.G.U.S., Inc. will contribute to your plan. Participation is not required, and you will decide if you want to be part of this program.

Who is eligible to participate in this plan?

Any employee, over the age of 21 who has worked for more than 1000 hours during the previous year may contribute to the plan.

How much money will be deducted from your salary?

It is up to you to decide on the percentage. It can be an amount between 3% and 10% of your salary, before taxes. You will not pay income taxes on this money at the time it is deducted.

Where does the money go?

The money will be held in a trust for you at this time by Principal Financial Services, Inc. until distribution. There are legal requirements for distribution. R.G.U.S. will not have access to the money. At the time of distribution, the income taxes will be withheld.

How is R.G.U.S. involved?

We provide the recordkeeping services and ensure that the plan is in compliance with law.

As your employer, we will make a contribution to each employees’ 401 (k) accounts.

Will an employee, who meets eligibility requirements, be required to participate?

Absolutely not. We are offering this program, because we believe that people should think ahead to their retirement years, and perhaps save a little money for the future.

You will be receiving further information about the R.G.U.S., Inc. 401(k) plan soon including the name and number of a person to contact with your questions. Eligible employees who decide to participate in the 401K plan will have the opportunity to have a yearly private meeting with a financial advisor.

If you have questions about the 401(k) you may call our office at the number listed above or at the phone numbers listed in the information you receive. Translation services will be available. R.G.U.S. is unable to provide financial advice.

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