Pace Industries has adopted Automatic Enrollment to help you begin saving for your future! New participants will be enrolled in the Pace Industries Savings and Investment Plan at a 2% contribution rate, and have your future contributions invested in a Vanguard Target Date Fund, based on your date of birth and retirement age of 65.
These changes do affect you! If you do not want to get enrolled at 2%, you will have 30 days to log into the Retirement Plan website or call the Retirement Service Center to re-elect your contribution rate and/or to decline enrollment. You may also take this time to change your investment elections!
Annual Limits for 2020
401(k) elective deferrals: $19,500
Catch-up contributions to 401(k) eligible governmental plans for employees age 50 or older: $6,500 (unchanged)
Contact Wells Fargo at 1-800-728-3123.