Pay Deferral Form

Pay Deferral Election Form

If you have employees participating in the 401K plan, they must complete this Pay Deferral Election Form. Please download, print and complete the form below. Submit this form with your contribution report when you sign on a new employee or an existing employee chooses to elect 401K.

Pay Deferral Election Form

The 401K Rule

Once an employee elects 401K, that employee is locked in for the year. The only time the employee can drop 401K is January of the following year. If the employee chooses to drop 401K, a new election form must be completed and submitted by December 31st. Otherwise, that employee will be locked into 401K for another year.