Business Internet - HR Info - Retirement
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Frequently check John Hancock website for any account messages (alerts or notifications) that may have been posted for the plan. These typically include
- notices that a participant took a hardship but deferral deposits are still being made and/or
- that it has been 6 months since a hardship distribution was taken and a participant is now eligible to being making deferrals again and/or
- notices that pertain to your contribution deposits.
2008 Limits
401(k)/401(b)/457 Salary Deferral Limit - $15,500 per year
Catch-up Contributions (for Participants age 50 and older at any time during 2007) - $5,000 per year
Compensation Limit - Limited to $230,000
Defined Contribution Plan Limit
- Maximum annual contributions/forfeitures to any participant is the lesser of $46,000 or 100% of compensation.
Taxable Wage Base - $102,000
Definition of Highly Compensated Employee
(1) Greater than 5% owner and lineal ascendants or descendants
(2) Compensation in excess of $100,000 in 2007
Definition of Key Employee
(1) Greater than 1% owner earning $150,000 or more in 2008
(2) Officer earning $140,000 or more in 2008
2006 Limits
401(k)/401(b)/457 Salary Deferral Limit - $15,000 per year
Catch-up Contributions (for Participants age 50 and older at any time during 2006) - $5,000 per year
Compensation Limit - Limited to $220,000
Defined Contribution Plan Limit
- Maximum annual contributions/forfeitures to any participant is the lesser of $44,000 or 100% of compensation.
Taxable Wage Base - $94,200
Definition of Highly Compensated Employee
(1) Greater than 5% owner and lineal ascendants or descendants
(2) Compensation in excess of $95,000 in 2005
Definition of Key Employee
(1) Greater than 1% owner earning $150,000 or more
(2) Officer earning $140,000 or more
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Crane Interiors 401K Plan
Trustees:
- Larry Bucklin, 615-563-4800
- Tom Evans, 615-563-4800
- Larry Officer, 615-563-4800
Administrator:
213 West Maplewood Lane, Ste 500 Nashville, TN 37207
(615) 309-9900
Investments:
- Toll Free FAX Numbers
Enroll Forms (866) 377-8846
Other (866) 377-9577
2007 Limits
401(k)/401(b)/457 Salary Deferral Limit - $15,500 per year
Catch-up Contributions (for Participants age 50 and older at any time during 2007) - $5,000 per year
Compensation Limit - Limited to $225,000
Defined Contribution Plan Limit
- Maximum annual contributions/forfeitures to any participant is the lesser of $45,000 or 100% of compensation.
Taxable Wage Base - $97,500
Definition of Highly Compensated Employee
(1) Greater than 5% owner and lineal ascendants or descendants
(2) Compensation in excess of $100,000 in 2006
Definition of Key Employee
(1) Greater than 1% owner earning $150,000 or more
(2) Officer earning $140,000 or more
Employees are SOLELY responsible for the management of their invest-ment accounts and no one at Crane Interiors is competent to advise them or authorized to intercede with any investment activity. John Hancock has the appropriate forms, maintains extensive Internet services, and has direct telephone access for employees to check and revise their invest-ments. That is TOTALLY their responsibility.
Company involvement is limited to distributing forms provided by John Hancock, telephone numbers, and, if necessary showing, employees how to access their records on the Internet.
2009 Limits
401(k)/401(b)/457 Salary Deferral Limit - $16,500 per year
Catch-up Contributions (for Participants age 50 and older at any time during 2009) - $5,500 per year
Compensation Limit - Limited to $245,000
Defined Contribution Plan Limit
- Maximum annual contributions/forfeitures to any participant is the lesser of $49,000 or 100% of compensation.
Taxable Wage Base - $106,800
Definition of Highly Compensated Employee
(1) Greater than 5% owner and lineal ascendants or descendants
(2) Compensation in excess of $105,000 in 2008
Definition of Key Employee
(1) Greater than 1% owner earning $150,000 or more in 2009
(2) Officer earning $160,000 or more in 2009
