All full-time and part-time employees of the participating Employer Sponsors are eligible to participate in the Vista 401(k) Supplemental Retirement Plan

The maximum you can contribute to your account is limited by federal tax law. The annual limit is $23,500. If you are 50 years old or older you can contribute another $7,500 for a total of $31,000. The yearly contribution limits apply to the Traditional and Roth 401(k) Plans combined. It is NOT $31,000 per plan.

Note: This figure may change each year as the maximum amount is indexed on an annual basis by the IRS.

Your account continues to enjoy tax-deferred earnings if you selected a Traditional 401(k) Plan. If you selected a Roth 401(k) Plan your account continues to enjoy post-tax earnings. You will continue to enjoy the same benefits as other participants.

You may withdraw your money from the Vista 401(k) Plan when you have reached 59.5 years of age or have terminated your employment. The IRS does allow provisions for hardship. Specific criteria are listed in the “Vista 401(k) Plan Highlights”, found under the “401(k) Plan” tab. Many of the same rules apply to the Roth 401(k) Plan. However, the Roth does not allow you to remove funds for 5 years following your first contribution.

Your 401(k) plan has a loan provision to give you access to your money. There are certain rules that apply:

• You must have a minimum of $2000 in your account.
• You can borrow up to 50% of your account balance, with a maximum of $50,000.
• Minimum loan amount is $1000.
• You have up to 5 years to repay the loan.
• Only one loan is permitted at a time. There is also a (30) day waiting period to acquire a new loan after paying off an existing loan
• The interest rate will be 2% over Prime, however repayment of both principal and interest is re-deposited into your account.
• There is a $85 loan processing fee.

The money you contribute to your traditional 401(k) is not taxed until you receive a qualified distribution from your plan. All contributions are pre-tax, thereby reducing your taxable income. If you select the Roth 401(k) each contribution is after-tax and grows tax-free, with qualified withdrawals in retirement being tax-free.

“The chart below compares the Traditional 401(k) Plan to the Roth 401(k) Plan. The chart illustrates the tax savings for an employee earning $2000 per pay period, income taxes of 20% based on deductions, 7.65% FICA tax, and a contribution of $100 per pay period for both the Roth and Traditional 401(k) Plans.

Please contact the Retirement Services Department at (866) 325-1278 for additional information.

Yes, just like IRAs or other retirement plans, you must begin receiving payments from your Traditional 401(k) account starting with the year after the year in which you achieve age 73. However, if you selected a Roth 401(k) plan, you are not required to take distributions.

You may request an Enrollment Form or get additional information by calling the Retirement Services Team at 1-866-325-1278 (M-F, 8 a.m.- 5 p.m.). You may also visit the Vista401k.com homepage and click on the  “Account Login/Enroll” box at the top of the page.”

Mail your completed form to Vista 401(k) at P.O. Box 1878, Tallahassee, Florida, 32302-1878.

Simply complete the form indicating:

• The per pay period amount you want to contribute.
• How you want your money invested.
• The beneficiary who will receive your account in the event of your death.

You must have a minimum account balance of $2,000 to begin a loan. The minimum loan amount is $1,000. Your loan cannot exceed 50% or account assets and cannot exceed $50,000. You may not have more than one loan active at any given time.  Once a loan is paid off there is a 30 day waiting period before a new loan may be taken.

Call the Retirement Services Department at (866) 325-1278 for instructions.

You can rollover your other previous employer’s Traditional 401(k) and Traditional 403(b) accounts at any time.  You may rollover current employer Traditional 403(b) accounts into your Traditional Vista 401(k) account as long as you meet certain IRS requirements:

• You are over the age of 59 ½ OR
• No longer working for the plan sponsor of your Traditional 403(b) account
• Rolling over funds to your Traditional 401(k) account may be a good way to cut expenses and keep more of your returns.

NOTE: You cannot roll your Traditional 401(k) account into your Roth 401(k) account under the Vista 401(k) Plan.

No, this is not required. The Vista 401(k) Plan automatically calculates your RMD amount and sends out a check to the address on file. Contact our office to update your contact information if needed. The Roth is an after-tax vehicle and grows tax-free, with qualified withdrawals in retirement also being tax-free. No RMD is required for the Roth 401(k).

Note: If you remain employed, you are not obligated to start taking your RMD at 73 years of age. 

Participant statements are posted to your account online after each quarter. If you wish to receive a hard copy you must visit your account online and change the option from paperless. If you have any questions please contact the Retirement Services Department at (866) 325-1278.