Important 401K Announcement
As we finalize our transition from Principal to Empower as our new 401(k) provider, we would like to remind you of the upcoming blackout period, which begins on December 6th to January 13th, 2025.
During this timeframe, contributions, elections, and fund withdrawals, cannot be changed. You should have already received your Empower welcome guide in the mail. I have attached the guide again, along with a step-by-step guide via mobile app for your review. We appreciate your understanding as we complete this important transition. If you have any questions, feel free to reach out. Thank you!
Questions about Benefits and/or 401K?
Contact our People Partner, Falina McLaughlin
people@lavishroots.com or askhr@meta.com
FAQs
How do I access my account?
Your plan is accessible when you’re on the go! The Empower mobile experience puts your retirement plan at your fingertips. Use it to access and manage your 401(k) plan account when you’re on the go — right from your mobile device.
Prefer to begin your journey now online?
Log on to empower.com
Select Register.
Choose the I do not have a PIN tab.
Follow the prompts to create your username and password.
If we don’t have your email or phone number on file from your employer, or if you have another account with Empower (with a former employer, for example), you will need to call to access your new plan account.*
401K Notice: 10/24/2024
Dear Lavish Roots Team Member,
Great news! We are pleased to announce the selection of Empower as our new provider of administrative, investment and communication services for your Retirement Plan. Effective December 18, 2024, Empower will replace the current service provider, Principal. Empower will provide recordkeeping services for the Plan and access to a voice response system, KeyTalk®, and an interactive website that are available 24 hours a day, seven days a week for obtaining your account information.2 Online Investment Advice, Online Investment Guidance and Managed Account services will be offered by Advised Assets Group, LLC, a federally registered investment adviser. An Introduction to Empower Services—Our New Local Service Partner Headquartered in Colorado and with a dedicated local service representative, Empower focuses on providing high-quality retirement plan services to employers and their employees. It is a leading provider of employer-sponsored defined contribution retirement programs primarily to corporate, government, healthcare and nonprofit entities.
The Plan Transition
Changing to a new service provider involves, among other activities, transferring participant accounts from Principal to Empower. Once moved from Principal to Empower, your records will be reconciled to ensure they are correct. You will receive more detailed information regarding this process prior to the change to Empower.
Your Enhanced Services
Empower will bring significantly improved services to your Plan. Beginning December 18, 2024, you may benefit from the following:
❶ New Investment Choices
We are introducing an outstanding array of new investment options. Your contributions, along with your employer
contributions will be invested in accordance with your selections. This means that you will be able to choose from a
number of different investment options, including [variable funds, pre-mixed asset allocation “Profile Portfolios” and
a fixed investment option].
❷ New Technology Services
A range of new services will make it easier to manage your account and obtain Plan and investment information. A
helpful, interactive website, www.empower-retirement.com/participant, and toll-free voice response system,
KeyTalk at (800) 338-4015, will make it easier to manage your account and make transactions anytime you
choose, 24 hours a day, seven days a week.
❸ Quarterly Statements and eNewsletter
Empower will mail quarterly account statements beginning in [month]. You may receive paper or electronic
statements—it’s your choice. Your Empower quarterly statements will include a graphical snapshot of your asset
allocation and contribution amounts. A retirement planning quarterly eNewsletter will also be available on the
participant website. You will receive a separate statement from your Self-Directed Brokerage Account (SDBA)
provider (depending on the provider and/or the activity within your SDBA) that will detail the investment holdings
and activity within your SDBA, including any fees and charges imposed in connection with the SDBA.
❻ Reality Investing® Advisory Services
Participants can take advantage of a new suite of investment tools and services, Reality Investing Advisory
Services, which allows you to choose from three levels of investment assistance and advice products to suit your
individual needs. For those participants who would prefer to have a professional investment adviser choose their
investments and re-balance their assets regularly, consider the Managed Account service.3 Participants who prefer
to manage their own account may want to consider utilizing Online Investment Guidance or Online Investment
Advice. Online Investment Guidance and Online Investment Advice services are available on the website.
Investment guidance and advice are based on the existing portfolio of investments available in your Plan. For more
information, including how to enroll in one of the services and any applicable fees, log in to your plan’s website.
There is no guarantee that participation in Reality Investing Advisory Services will result in a profit or that your
account will outperform a self-managed portfolio.