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Slavic401k.com Reports & Reviews (1)

- Glendale, CA, USA • Jan 31, 2025

I received a letter in the mail from Slavic 401K saying that I had to log on to their site if I wanted to "stop automatic contributions to the 401K plan that I was automatically enrolled in". I am reporting the business because NONE of the information they provided in the letter is true: there is no "new retirement policy" saying that I am "automatically enrolled" in my employer's 401K plan unless I opt out. Also, my employer does not use Slavic 401k. When I went to the website they gave me to "opt out of automatic contributions" the first page asked for my name and SSN. I did not provide any of those details as I understood that it was a scam.

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Here is an excerpt from the letter I received:

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READ THIS NOTICE CAREFULLY -

Notice of Automatic Enrollment in yoru Employer's 401(k) Plan

- Dear 401(k) Plan Participant,

Starting January 1, 2025, you will be automatically enrolled in your employer's 401(k) plan with a 3% pre-tax contribution per pay period. This rate will increase by 1% annually until it reaches 10%.

If you recently enrolled or opted out and you received a confirmation of your transaction, you may disregard this notice.

To stop automatic contributions, please take action promptly after receiving this notice.

Please review this notice for further information on how the automatic enrollment impacts you.

- 1) Why am I being automatically enrolled?

Our records indicate that you are eligible to participate in your employer's 401(k) plan but have not yet enrolled or opted out. Consequently, in accordance with the new retirement plan regulations, you will be automatically enrolled beginning with your first paycheck in January 2025. A 3% pre-tax deduction will be applied to your paycheck and contributed to your employer's 401(k) plan.

- 2) How can I enroll or opt out?

If you do not want to contribute ot your employer's 401(k) plan, you will wan tot PT -OUT form being automatically enrolled. By opting out you will avoid any automatic contributions. IF you are not sure if you opted out previously, you may elect to go through the opt out process again.

To Opt-Out:

Go to www.slavic401k.com and select Enroll/Opt-out, then select the link at the bottom of the page for "AUTOMATIC ENROLLMENT OPT OUT and follow the steps to opt-out until you receive the opt out confirmation e-mail.

- 3) After January 1, 2025:

If you do not opt-out before January 1, 2025, and you have automatic contributions taken out of your pay, you will still be able to opt-out or change your contribution rate at any time.

...

To enroll, opt-out, change investments, or withdraw contributions after January 1, 2025, visit www.slavic401k.com or contact the Retirement Service Center at (800) 356-30009.

- Sincerely,

Slavic401k

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