Retirement
We are pleased to provide you with a competitive and convenient way to save for your retirement through payroll deductions and a generous company match!
Eligibility
You are eligible to participate in the plan as soon as administratively possible following 30 days of service with the company and attainment of age 18.
Enrollment
New employees may enroll by contacting Transamerica Retirement Solutions at 800-755-5801 or my.trsretire.com. You will receive an Enrollment Booklet mailed to your
home address on file. This booklet will provide you with important information and details regarding the enrollment into the plan and investment options available.
If new hires do not take any action to enroll, they will be automatically enrolled into the 401(k) retirement savings plan at a contribution rate of 3%. Eligible rehired employees may enroll sooner than 30 days and will not be auto-enrolled.
Employee Contributions
Contributions from your pay are made on a pre-tax basis or an after-tax basis if you elect Roth deferrals — up to the IRS maximum. If you are 50 years of age or older, or
if you will reach age 50 by the end of the year, you will be automatically enrolled to make catch-up contributions in addition to the normal IRS annual limit. You may opt-out of the catch-up contributions by contacting Transamerica Retirement Solutions at 800-755-5801 or my.trsretire.com prior to your 50th birthday.
Employer Matching Contributions
Grifols will make a matching contribution each payroll period equal to 100% of the first 5% of your pre-tax or Roth salary deferral contributions.
Vesting
Vesting refers to your right of ownership to the money in your account. You are immediately vested in all your salary deferral contributions and earnings and the employer matching contributions.
Auto-Escalation
Saving for retirement is very important and we want to support our employees in achieving maximum savings, especially since Grifols matches
100% up to 5% of your contributions! In efforts to help you save, your contributions will increase by 1% every year on January 1 until you are contributing 6% of your pay. You
can “opt-out” at any time by contacting Transamerica Retirement Solutions at 800-755-5801 or my.trsretire.com.
Retirement Planning Consultant Support
Access free one-on-one planning sessions with a retirement planning consultant. Your consultant will review your overall retirement strategy and discuss other financial goals that you may have. Sign up for a 30-minute or 1-hour virtual or phone consultation. Phone consultations are also available in Spanish.
For More Information
For additional details about the 401(k) retirement savings plan, please contact Transamerica Retirement Solutions at 800-755-5801 or my.trsretire.com. To view the Summary Plan Description (SPD), visit the CTS Share Point site.
Naming or updating your beneficiary only takes a few minutes and will ensure your hard-earned money goes to the people in your circle of trust. Log into my.trsretire.com to change your current designation.
Resources
DURING OPEN ENROLLMENT (11/7-12/3) YOU HAVE THREE WAYS TO ENROLL:
- Call 833-557-0382 to speak to a professional benefits counselor.
- Schedule an appointment below with a benefits counselor during the enrollment period.
- Enroll for benefits online at employeenavigator.com/benefits/account/login. Look for the Enroll Now! menu item. If you are a new user, register at employeenavigator.com/benefits/account/register
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