Employee Relations

Hello All Lakemary Center 401k Plan Participants and future participants,

As introduced during our Summit Meetings, we are beginning the initial stages of transitioning our 401k Plan from TIAA Cref over to Creative Planning and Principal.  We want to share with you the initial steps and some highlights of what’s to come over the next couple of months.  We will be holding some brief group meetings to go over this information this week via Teams. 

The Teams meeting links are:    

Join the meeting now, Thursday, Oct. 10th @ 7:30 AM 
Join the meeting now, Thursday, Oct. 10th @ 3:30PM

Join the meeting now, Friday, Oct. 11^th @ 12:00 PM.

***Current and future participants are welcome to attend the meetings.  

Eligibility Requires:  One completed year of service and a minimum of 1,000 hours worked. 

• Please find below a guide for setting up your new website/app access at Principal.
• If you are currently contributing to the 401k Plan, please note that your contributions beginning with your October 15^th paycheck will be directed to Principal.

• • You are welcome to create your account at Principal ANYTIME, starting NOW and select new investment options for these contributions to be invested into.

• • • •  If you would like help with choosing an investment strategy, please reach out to our financial advisor, Kristen Shope (contact listed below).

• • If you do NOT setup your account at Principal prior to the October 15^th contribution coming over to Principal, do NOT Panic!  Your contribution will be invested into the Managed Account which is managed by Creative Planning.  The investment allocation will be based on many factors such as your age, etc.  This can always be changed. 

• Your account balance at TIAA will be ready to transfer to Principal in mid November.  We will hold separate meetings to discuss that process. 
• If you currently have an outstanding loan through your account at TIAA, please continue to make your loan repayments – nothing is changing there for now.
• Lastly, please find attached your Qualified Default Investment Alternative Notice which discusses the Managed Account option for anyone that does not actively select investment options in their Principal account.  Also, your ERISA 404a Notice which discusses the investment option summary and their associated fees. 

Please feel free to reach out to our new Financial Advisor, Kristen Shope, at Creative Planning with any questions.  She can be reached directly at 913-742-7263 or Kristen.shope@creativeplanning.com.