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The Vocent 401(k) plan is administered by (http://retirement.standard.com).
Employees are eligible to participate in the plan on the first of
the month following date of hire. The 401(k) plan encourages employees
to accumulate savings for retirement. The wide variety of investment
funds range from a guaranteed interest fund to stock funds.
At this time there is no employer matching contribution. Employees
are 100% vested in their contributions. Vocent may make discretionary
contributions in the future. Employees may contribute up to 20%
of their salary to a max of $13,000 for the year 2004.
General Information
Taxes- Plan participants will pay
no federal or state tax on contributions or Plan earnings until
the funds are withdrawn. If withdrawals are taken before age 59
1/2, there is an early withdrawal 10% tax penalty.
Hardship Withdrawals- Plan participants
may withdrawal early from the plan without penalty under certain
limitations. Examples of a hardship withdrawal are purchase of a
home, certain types of tuition expense, prevention of a foreclosure
on primary residence or medical expenses. Please talk to the plan
administrator for additional information.
Participant Loans- Plan participants
can borrow a portion of the contributions from their 401(k) Plan.
The maximum term is 5 years for a loan and 30 years for a mortgage.
The interest rate is prime rate plus 2%. Each participant may have
a maximum of 1 loan. Further information is available from the Human
Resources Department.
Investment Performance- Plan participants
will receive a quarterly statement reflecting investment performance
and individual account balances. Participants may also go on-line
(http://retirement.standard.com/)
for quarterly reports.
401(k) Investment Options
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Stable
Asset Fund II
Harbor Bond Fund (HABDX)
Columbia Fixed Income Fund (CFISX)
Vanguard Wellington (VWELX)
T. Rowe Price Equity-Income (PRFDX)
Vanguard 500 Index (VFINX)
Harbor Capital Appreciation Fund (HACAX)
TCW Galileo Select Equity I (TGCEX)
American Century Value (TWVLX)
Federated Mid Cap Index (FMDCX)
T. Rowe Price Mid Cap Growth (RPMGX)
Fidelity Advisor Mid Cap Instl (FMCCX)
Sterling Capital Small Cap Value (SPSCX)
T. Rowe Price Small Cap Stock (OTCFX)
Liverty Acorn Z (ACRNX)
Janus Aspen WOrldwide Growth (JAWGX)
Templeton Foreign Advisor (TFFAX)
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If you need additional information on the Vocent 401(k), or wish
to enroll, please contact the Human Resources department .
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