Whether you are just starting out or have been saving for awhile, we encourage employees to take advantage of this savings program. Your small efforts now could have a significant impact on your financial future. Keep in mind, the sooner you start planning for retirement, the more your retirement savings will accumulate over time.

 

How it works:

• You decide how much you want to contribute each pay period.
• This amount is deducted from your paycheck—before taxes are taken out—and deposited directly into your 401(k) account.
• Inotiv may match a uniform percentage of your pre-tax contributions up to a dollar amount or percentage of included compensation. This match is basically free money you receive just for participating. Matching contributions are discretionary and determined annually.
• Taxes aren’t paid until the money is withdrawn from the account.

 

Getting started:

Whether on your computer or mobile device, you can easily access your retirement account to review your status, make changes, or access tools that help you personalize your retirement strategy.

• Go to www.netbenefits.com.
• Click the “Register as a New User” hyperlink.
• Create an account and follow the instructions.
• You can also download the NetBenefits app from the App Store or Google Play.

 

Designate beneficiaries

If you want to ensure your loved ones are cared for after you’re gone, one of the best things you can do now is designate beneficiaries for your retirement account. A will doesn’t cover assets held within a retirement plan account, so designating beneficiaries helps your heirs avoid added stress and administrative work. To designate or update your beneficiaries, visit www.transamerica.com.

 

How to enroll:

New hires are automatically enrolled with a 6% deferral amount in the Inotiv 401(k) retirement plan on the first full pay period following 90 days of employment, unless they elect a different percentage or elect to not participate.