Corporate Finance Group 401(k) match, vesting and fees

Participants are immediately vested in their deferral and rollover contributions, including the earnings on those amounts. Vesting in the Company contributions portion of their accounts is based on years of continuous service. Participants are fully vested in employer contributions upon the completion of six years of service. Participants are also fully vested upon reaching normal retirement age, death or total disability.

The Plan includes an auto-enrollment provision whereby all newly eligible employees are automatically enrolled in the Plan unless they affirmatively elect not to participate in the Plan. Automatically enrolled participants have their deferral rate set at 6% of eligible compensation, increasing by 1% annually with a maximum automatic enrollment of 10%, and their contributions invested in the designated default fund until changed by the participant.

Participants may borrow from their accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or one-half of their vested account balance. Loan terms range from one to five years, except for loans to purchase a primary residence, which may be offered over a term of up to 20 years. The loans are secured by the balance in the participants’ accounts and bear interest at a rate commensurate with local prevailing rates, as determined by the Plan administrator. The notes currently bear interest at rates ranging from 4.25% to 9.50%. Participants may only have one loan outstanding at any given time.