MGBW E-News

 PARA ESPANOL – HAGA CLIC AQUÍ.

MGBW is pleased to introduce our new 401(k) provider -ADP Retirement Services

ADP is a leader in the Retirement Services industry and provides participants with the tools and services to make saving for retirement convenient and easy.

ADP Retirement Services will provide all recordkeeping services for your 401(k) plan, including the transfer of all investment options to the new plan.

During this plan transition there will be a blackout period where you will NOT be able to make any changes to your investments. 

This means you will NOT be able make changes to your current contribution rate (%) nor will you be able to make changes to investments or make withdrawals from your plans.  

At the end of the blackout period, you will receive a Welcome Letter from ADP Retirement Services which will include a Personal Identification Number (PIN) to access your account.

Blackout Period:

(No changes or withdrawals can be made to your investments)

06/28/2024 – 08/15/2024

If you have questions concerning this notice, please contact: Delia Lozoya, delia@marinegroupbw.com, 619-427-6767 ext 120.

Additional Transition Period Information

Remember that each investment option has potential risks, so it is important to read the prospectus and/or other investment related information carefully. Prospectuses, which include information about fees and expenses as well as investment objectives, will be made available to you at the enrollment meeting and/or you may obtain them from the Plan Administrator. An investment in money market funds is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. Although money market funds seek to maintain a $1.00 share value, there is no guarantee that they will be able to do so.

Whether or not you are planning retirement in the near future, we encourage you to carefully consider how this blackout period may affect your retirement planning, as well as your overall financial plan. For your long-term retirement security, you should give careful consideration to the importance of a well-balanced and diversified investment portfolio, taking into account all your assets, income and investments.

Federal law generally requires that you be furnished notice of a blackout period at least 30 days in advance of the last date on which you could exercise your affected rights immediately before the commencement of any blackout period in order to provide you with sufficient time to consider the effect of the blackout period on your retirement and financial plans. If you have become a participant or beneficiary with an account balance in the Plan after blackout notices were initially furnished to affected participants and beneficiaries, this notice has been provided to you as soon as reasonably possible upon the beginning of your participation.

ADP, LLC and its affiliates do not offer investment, tax or legal advice to individuals. Nothing contained in this communication is intended to be, nor should be construed as, particularized advice or a recommendation or suggestion that you take or not take a particular action. Questions about how laws, regulations, guidance, your plan’s provisions or services available to participants may apply to you should be directed to your plan administrator or legal, tax or financial advisor.

What does that mean for you?

• You’ll have to download the ADP Connect 401K mobile app or visit the ADP website to register your account
• Easy-to-use dashboard and push notifications on the ADP Connect 401k app where you can navigate your 401K and/or Roth account with ease, and make changes, including updating your contribution percentage

You’ll have access to tools for planning and saving all on the ADP app.

ADP RETIREMENT  SERVICES 71 Hanover Road, Florham Park, NJ 07932

ADP, the ADP logo and Always Designing for People are trademarks of ADP, LLC. iPhone, iPad, iPod touch, iOS, and Apple App Store are registered trademarks of Apple Inc. All other trademarks and service marks are the property of their respective owners. 99-5600-P-1219 ADPRS-20191114-0422 Printed in USA. Copyright  © 2016-2019 ADP, LLC. All Rights Reserved.