Red Rock Behavioral Health Services 401(k) match, vesting and fees

The plan document also includes an automatic deferral feature whereby a participant who becomes eligible to participate in the Plan will automatically be enrolled at a 1% deferral rate unless the participant makes an affirmative election otherwise.

The plan document includes provisions authorizing loans from the Plan to active eligible participants. Loans are made to any eligible participant demonstrating a qualifying need. The maximum amount of a participant’s loans is determined by the available loan balance restricted to the lesser of $50,000 or 50% of the participant’s vested account balance. All loans are covered by demand notes and are repayable over a period not to exceed five years (except for loans for the purchase of a principal residence) unless the participant is paying the loan in full. Interest on the loans is based on local prevailing rates as determined by the plan administrator. Loans are paid ratably through direct payments from the participant’s personal checking account.