PGK87.com

Effective [four days ago], we are temporarily suspending the company match on the [company] 401k plan. You will continue to vest on the current employer matches already deposited to your account and your employee contributions are always 100% vested. We encourage you to continue your 401k contributions as it allows you to deposit monies on a pre-tax basis, saving on federal and state taxes and is an important component in your retirement planning.

Should you wish to make changes in your 401k election, we have enclosed an enrollment form. Any changes that you wish to make prior to the February 15 payroll must be submitted to Human Resources (Esther or Kim) prior to February 9, 2009.

Also, effective March 1, 2009, we are increasing each employee’s premium payment by $25/pay period. This change is across all plans and for all participating employees. If, as a result of the change to employee contributions, you wish to change your medical plan or your flexible spending account election, you will have that opportunity. We will be holding a one week open enrollment period for your employee benefits to accommodate these changes. Enrollment will be from February 9 – 16 for an effective date of March 1.

These are difficult decisions and we are attempting to spread the burden of these cost reductions across all employees to minimize the impact on any one person. This is a very fluid situation. When times settle down and the economy stabilizes, we will revisit these changes with an eye towards moving our benefits back to the original 2009 levels. Should you have any additional questions, please feel free to contact me or hr@xxxxxxx.com.

Thanks,