The following information is a summary of the features of the Vanguard Retirement and Savings Plan (RSP). For detailed, specific plan information, refer to the RSP Summary Plan Description.
The RSP gives crew members a convenient and tax-advantaged method of saving for retirement through the 401(k) feature of the plan. Crew members also receive additional contributions from Vanguard that provide a significant supplement to their own savings.
Eligibility and enrollment
You're immediately eligible to participate in the plan, and the RSP's automatic enrollment feature provides additional convenience by enrolling all newly hired and rehired crew members at a pre-tax deduction rate of 4% and setting up an investment in the Vanguard Target Retirement Trust closest to the year you turn age 65. Additionally, the One Step® feature increases your savings rate automatically by two percentage points each January until it reaches 12% or the IRS limit.
If you choose not to participate in the plan, be sure to contact Vanguard within two weeks of your date of hire. You can opt out of auto-enrollment by logging on to vanguard.com/retirementplans or calling Vanguard Participant Services at 800-523-1188 (internally at Ext. 42000). But think carefully. Saving and investing are great ways to help achieve long-term financial goals. One Step helps you do both—automatically. Keep auto-enrollment working for your future!
If you previously chose not to participate in the RSP but are ready to enroll now, simply log on to your account at vanguard.com/retirementplans. You can join the RSP quickly by agreeing to use the plan's suggested elections or making your own choices.
It's important to designate a beneficiary for your RSP account as soon as you are enrolled in the plan and after a life event such as marriage or the birth of a child. To manage your beneficiary information online, log on to vanguard.com/retirementplans. Select My Profile, then select Beneficiaries. If you have multiple accounts with Vanguard, select Employer plans to access the My Profile tab.
If you are married and are designating someone other than your spouse as a primary beneficiary, your spouse must consent in writing to your election; the form will be mailed to you automatically upon your designation.
Note: An election made without submission of the required written spousal waiver will not be honored in the event of your death.
All investing is subject to risk, including possible loss of the money you invest.
For more information about any fund, including investment objectives, risks, charges, and expenses, call Vanguard at 800-523-1188 to obtain a prospectus or, if available, a summary prospectus. The prospectus contains this and other important information about the fund. Read and consider the prospectus information carefully before you invest. You can also download Vanguard fund prospectuses at vanguard.com.
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