MS&A 401(k) Plans

Click here to view or download the Employee Per Pay Period Contributions document

This plan summary includes a brief description of your employer's retirement plan features, as supplied to Principal by Michael Sullivan & Associates. Click here to view or download MS&A's 401(k) Rollover document.

Eligibility and Entry

  Requirements for deferrals and employee contributions
Age 21
Service 1 month of service
Hours of service Not applicable
Entry service period Not applicable
Entry date Monthly

Deferrals and Employee Contributions

Elective deferral contributions Allowed Elective deferral (pre-tax)
Catch-up deferral (pre-tax)
Roth deferral (after-tax)
Roth catch-up deferral (after-tax)
Minimum deferral None  
Maximum deferral 100.00%  
When deferrals can be changed Monthly  
When deferrals can be stopped Any date  
Auto enrollment and features Yes
Contribution arrangement
Auto enrollment percent

Automatic contribution arrangement (ACA)
5% of eligible pay, applied when participants enter or re-enter the plan
Rollovers Allowed  

Employer Contributions

Matching contributions Allowed
Match formula: Discretionary
Catch-up contributions matched: Yes
Vesting schedule: (See Vesting schedule below)
Discretionary contributions Allowed
Vesting schedule: 1 Year = 20%, 2 Years = 40%, 3 Years = 60%, 4 Years = 80%, 5 Years = 100%


Loans allowed Number of outstanding loans allowed: 1
Number allowed in a 12-month period: unlimited
Interest rate: determined when you apply
Minimum amount $1,000
Maximum amount The lesser of:
  • $50,000
  • 50% of the participant's vested account reduced by any outstanding loanbalance
Vested contributions available Refer to Summary Plan Description or Loan Policy
Term of loan 5 years, longer durations may be allowed if loan is taken for the purpose of purchasing a primary residence

In-Service Withdrawal Options

Age 59 1/2 Availability: anytime
Financial hardship Availability: anytime
Rollover Availability: anytime

Retirement and Other Benefits

Normal retirement age The older of age 65 or your age on the date 5 year(s) after your entry date occurred  
Normal retirement date The date you reach your normal retirement age  
Start of retirement benefits before termination from employment On or after the later of:
  • Your normal retirement date
  • Age 59 1/2
Small amounts force out limit $5,000 Rollovers are not included in this amount
Automatic rollover distribution:
  • An individual retirement plan designated by the plan administrator
Deemed severance for military service Allowed  
Distribution at termination of employment Allowed  
Distribution at death Required  

While this plan summary outlines many of the major provisions of your employer's retirement plan, this summary does not provide you with every plan detail. The legal plan document, which governs this plan, provides full details. If there are any discrepancies between this plan summary and the legal plan document, the legal plan document will govern.

From time to time, your employer may elect to amend the retirement plan provisions. This plan summary may be updated to reflect proposed amendments to the plan document provisions. Until a plan amendment is adopted, however, the legal plan document will govern. Contact your plan sponsor if you would like more details regarding applicable retirement plan provisions.

If you have questions about the retirement plan or your account information call 1-800-547-7754 Monday through Friday, 7 a.m. - 9 p.m. (Central time), to speak to a retirement specialist at The Principal®.

To learn more about The Principal® or to access your account information, visit

Insurance products and plan administrative services are provided by Principal Life Insurance Company, a member of the Principal Financial Group® (The Principal®), Des Moines, IA 50392.