Tag Archives: 401k

401k End of Year Reminders

For TAG members with a TAG 401k Plan through Vanguard, the 2023 contribution year is at a close. Due to holiday hours at payroll locations and the TAG office holiday closure from Fri., Dec. 22, 2023 at 2 p.m. to Mon., Jan. 1, 2024, no more changes can be made to 401k payroll deduction settings for this year. But you can plan ahead for January and check your 401k status to prepare for your 2024 participation in the TAG 401k Plan.

Contribution Limits
TAG 401k Plan contribution limits for 2024 have gone up! If you are under the age of 50, you can now contribute up to $23,000 dollars to 401k plans. And if you are over the age of 50, you can contribute an additional $7,500 to that amount.

If you wish to set up 401k contributions or make adjustments to your current deduction percentages, you can find the forms and information on the TAG website.

First Paycheck of 2024
Make sure to check your first paychecks of the new year to confirm that the 401k deductions you have set up are being made at the percentage you requested. Due to many different issues that can occur at payroll, some contribution setups may not carry over to the new year correctly, and this can cause missed 401k contributions. TAG has no access to the weekly payroll information and can’t monitor these issues for you. It is up to you to proactively monitor your 401k contributions and contact us at 401k@tag839.org for help when payroll issues arise.

FAQs about the 401K Plan: What you need to know!

I’d like to start a 401k plan. I’ve never enrolled before – what can I do?

The best way to get started is to go to the 401k Quickstart page on the Animation Guild website.  Follow the instructions there and complete and return a form. The fastest way to submit a completed form is to scan and email to 401k@tag839.org.

I think I’m already enrolled, but I would like to re-start contributions, or make another change.

For changes to paycheck deferrals, or restarting contributions if you have switched seasons, switched shows, or switched employers, please use the Enrollment/Change form available on our website. 

How can I get access to the TAG 401k Plan at Vanguard’s website?

If you are already enrolled, access your 401k account at Vanguard using the following instructions.

Online: To sign up for online account access, visit vanguard.com/register and follow the prompts. You’ll need your plan number: 094523. If any of your personal information on file at Vanguard is not correct and you have difficulty setting up a log-in, we can correct those issues (contact the office at 401k@tag839.org).  Once registered, you can log on to your account at vanguard.com/retirementplans.

By phone: Call Vanguard Participant Services at 800-523-1188. Associates are available Monday through Friday from 5:30 a.m. to 6 p.m. (PST). (Special Note: If you also have private accounts with Vanguard you will need to get Special Instructions from Vanguard to log in. Call Vanguard to begin the conversation.) 

I’m looking for a specific form – where can I find 401k forms?

All 401k forms are available on our website here.

The most commonly used forms are:

  1. Easy Enrollment Form: A simple form that will enroll an eligible participant in the TAG 401k Plan. Deferrals will be pre-tax, and deferrals will be invested in the Vanguard Target Date fund that has a target date closest to when you turn age 65.
  2. Long-Form Enrollment/Change Form: A longer form offering more enrollment options, including Roth, 50+ Catch-Up contributions. Enrollees should choose how they want funds to be invested, and can choose a Target date fund or any of the other funds. All Allocation percentages need to add to 100%. All fields on the first page inside “Payroll Directions” must be completed!

The Enrollment/Change form should also be used for re-starting contributions after a change in employer.

There has been money deducted from my paycheck, but I’m not seeing it appear in my Vanguard account yet. What’s going on?

When funds are deducted from your paycheck, it can take up to two to three weeks for the funds to be properly transferred to Vanguard, processed, checked, and then become visible in your account. If you are seeing a delay longer than two to three weeks for contributions to appear, send an email with your name, the studio you are working for, the production and, if applicable, the season you are on to 401k@tag839.org. Someone from the union office will respond and look into the situation.

Something has happened with my 401k contributions that I don’t understand, and I would like some help figuring out what’s going on.

Please send an email with your name, the studio you are working for, the production and, if applicable, the season you are on to 401k@tag839.org. Someone from the union office will respond and assist you.

What are the limits for 401k Contributions for 2019?

For 2019, the IRS has set the following limits for 401k contributions. Generally, the total limit on all contributions is $19,000 for calendar year 2019. If an individual will be age 50 or older during the calendar year 2019, they may additionally make up to $6,000 in catch-up contributions.

I’m going through a divorce or other situation, and need help with a Qualified Domestic Relations Order (QDRO).

To begin this process, please send an email with your name, the studio you are working for, the production and, if applicable, the season you are on to 401k@tag839.org. Someone from the union office will respond and assist you.

What else should I keep in mind?

Have you designated a beneficiary for your 401K plan or recently checked to make sure your beneficiary is correct? Log on to vanguard.com/retirementplans to review your account, click on My Profile, or call Vanguard Participant Services at 800-523-1188.