The MAA 401(k) Savings Plan is a valuable employee benefit and one of the best ways to save for retirement. To assist you in saving and investing wisely, the Plan offers easy-to-understand retirement planning tools and a broad range of competitive investment options through its recordkeeper, Empower Retirement (“Empower”). The eligibility requirement to participate in the MAA 401(k) Savings Plan is six (6) months of service. After satisfying the eligibility requirement, you will become a participant in the Plan on the Entry Date, which is the first day of the month immediately following or coinciding with the date you meet the eligibility requirement (i.e., in most cases, the 1 st of the month on or after 6 months of service). Notes for Rehires: If you are being rehired within five (5) years and you met the six (6) month eligibility requirement in your previous employment with MAA, you are immediately eligible to participate in the Plan. If you are being rehired within five (5) years and you did not meet the six (6) month eligibility requirement in your previous employment with MAA, the months of service completed in your previous employment with MAA will be counted toward the six (6) month eligibility requirement and you will be eligible to participate in the Plan the first of the month on or after meeting the eligibility requirement. If you are being rehired after more than five (5) years, you must meet the six (6) month eligibility requirement upon rehire. Automatic Enrollment and Investment for Your Contributions: To make saving for retirement under the MAA 401(k) Savings Plan easier for you, the Plan offers an automatic enrollment feature using a default contribution election of 2% of your pre-tax eligible pay. You can choose a different contribution amount or choose not to contribute at any time through Empower’s website (empowermyretirement.com) or by calling Empower at (844) 465-4455. An Initial Automatic Enrollment Notice and Welcome Guide will be mailed to you by Empower at least 30 days prior to your Entry Date. If you do not make a different contribution election or elect not to contribute within 30 days from the date of your Initial Automatic Enrollment Notice, you will be automatically enrolled in the Plan with a contribution election of 2% of your pre-tax eligible pay each pay period starting with your first paycheck after 30 days from the date of your Initial Automatic Enrollment Notice. In addition, your contributions will be automatically invested in the Plan’s default investment option, unless you make a different election. You can make an election and change how your account is invested at any time through Empower’s website (empowermyretirement.com) or by calling Empower at (844) 465-4455. Employer Matching Contributions: MAA will match 100% of your contributions that are not over 3% of eligible pay, plus 50% of your contributions which are over 3% but not over 5% of your eligible pay. The matching contributions are made each pay period and are immediately vested in your account. Follow the instructions below to register for your account under the MAA 401(k) Savings Plan online through Empower’s website. Go to empowermyretirement.com and select the button labeled “Register”. Complete the fields under “I do not have a PIN” and select “CONTINUE”. Create a username and password and select “REGISTER”. Request a verification code be sent to your phone number or MAA email address. Enter the verification code and select “SIGN IN” to complete registration. MAA is committed to helping you get the most out of your Plan. When it comes to making contributions to the Plan, below are the ways we help you get started and continue to invest in your retirement throughout your career at MAA.
Empower’s service center representatives are available weekdays from 7am to 9am Central time and Saturdays from 8am to 4:30pm Central time by calling (844) 465-4455.
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