401(k) Savings Plan

In addition to the pension plans that most members participate in, a voluntary 401(k) program is also available. All 401(k) contributions are made by the member. Because employers generally make contributions for the pension plans, there are no matching employer contributions in the 401(k) plan.

Contributions: Members can contribute up to 25% of their pre-tax wages (to a maximum of $16,500 for 2009) into an individual 401(k) account.

"Catch up" contributions may be available up to a max of $5,500 for 2009. Members will be at least 50 years old by the end of the current year can make catch-up contributions. This catch-up limit is in addition to the regular limit.

Enrollment: Members may enroll twice a year during two enrollment periods prior to January 1st and July 1st. The enrollment will be effective that January 1st or July 1st.

Changes: Contribution percentages can be changed four times a year – for effective dates of January 1st, April 1st, July 1st or October 1st.

The Fund has contracted with the Principal Group as the service provider. The 401(k) Savings Plan is administered by a professional staff. The Board of Trustees make all the policy decisions and monitor its operations.

Enrolling & Making Changes

Enrollment Forms

Catch Up Contributions

Small Distributions

Voluntary Contribution Changes

External Links

Principal Financial Group

Retirement Calculators: www.principal.com/calculators/retire.htm

IRS.gov – See www.irs.gov/retirement/participant/article/0,,id=151786,00.html for further information on contribution limits

Contact Us

New York Hotel Trades Council &
Hotel Association of New York City, Inc. 401(k) Savings Plan
305 W. 44th Street, 4th Floor
New York, NY 10036

Hours: Monday - Friday 9:00 AM to 5:00 PM
Phone: (212) 586-6400 ext. 4215
Fax: (212) 586-3596