RETIREMENT & SAVINGS
401(k) Retirement Plan
Save. Plan. Enjoy. Taking advantage of Compass Group’s 401(k) retirement plan is among the best things you can do to enhance your financial future.
Compass Group offers a comprehensive retirement program administered by Wells Fargo.
The Compass Group Retirement Plan allows you to save from 1 percent to 50 percent of your pay (before income-tax withholding) and invest it in a variety of assets – stocks, bonds, mutual funds.
As an incentive when you join the program, Compass Group may make a basic matching contribution of $0.35 on each dollar you contribute up to 6 percent of your gross compensation.
You decide how your money is invested in your 401(k). Talk to an investment professional about the best investment strategy to help you reach your retirement goals.
Know the Penalties
Since 401ks are designed to help you save for retirement, there are stiff penalties for taking your money out early. Withdrawals are subject to IRS guidelines. You will owe income taxes on the total amount and, if you’re younger than 59½, also may owe a 10 percent early-withdrawal penalty.
On your first visit only, provide your Social Security number (for your registration ID) and date of birth.
Determine how much you want to contribute to your 401(k) account and learn what your investment options are.
- https://www.wellsfargo.com Your Retirement Accounts > First Time User
- Create your unique user name and password. You will be asked a series of security questions for future identification. After you have completed the registration, you will have full account access
- Enter the amount you plan to contribute
- Select your investment option
- Receive a written confirmation of your enrollment
Enroll by mail
Complete and sign the Easy Enrollment Form.
For more information about the Compass Group Retirement Plan
|Call||Wells Fargo Institutional Retirement & Trust
|Compass Group Retirement/Savings Department