How Do I Set Up a 529 College Savings Account?
Quick Answer You can open a 529 college savings account directly with the provider of your choice. Getting Started * Research and select a 529 plan that fits your goals. * Consider factors such as fees, investment options, and risk tolerance. * Complete the account setup directly with the provider. Helpful …
Does LWG Offer a College Savings (529) Plan?
Quick Answer LWG does not sponsor or manage a specific 529 plan, but team members may choose a plan that best fits their needs and set up payroll deposits independently. What This Means * You may choose any 529 provider or plan. * You control plan selection, investment options, and risk level. * LWG’s role is…
What Happens If I Miss Open Enrollment?
Quick Answer If you miss Open Enrollment, you generally cannot enroll in or make changes to your benefits until the next Open Enrollment period, unless you experience a qualifying life event. Important Details * Open Enrollment is the annual opportunity to enroll in or make changes to your health, dental, and v…
How Do I Fund My 529 Account Through Payroll?
Quick Answer You can fund your 529 college savings account by updating your direct deposit settings in Dayforce to send post-tax dollars from your paycheck directly to your chosen 529 account each pay period. How Payroll Contributions to a 529 Plan Work * Contributions are made using post-tax dollars. * You de…
When Am I Eligible to Participate in LWG’s 401(k) Program?
Quick Answer You are eligible to participate in LWG’s 401(k) plan after completing six months of consecutive, full-time service. Eligibility Details * The LWG 401(k) plan is administered through Voya Financial. * Once eligibility requirements are met, you may enroll on the first day of any calendar quarter. *…
When Can I Enroll or Make Changes to My Benefits?
Understanding when you can enroll in or make changes to your benefits can be confusing, especially since different rules apply depending on the situation. This comparison chart is designed to help you quickly understand when you can enroll, what changes are allowed, and when coverage takes effect based on whether you…
Who Is Eligible to Be Covered as a Dependent?
Quick Answer Eligible dependents generally include your legal spouse and eligible children, including children attending college and certain disabled children, subject to plan rules. Commonly Eligible Dependents Eligible dependents typically include: * Legal spouse * Biological children * Stepchildren * Ado…
What Happens if I Forget to Enroll in Benefits on Time?
Quick Answer If you miss your enrollment deadline, you generally cannot enroll in benefits until the next Open Enrollment period unless you experience a qualifying life event. Why This Happens This restriction is required by IRS regulations that govern employer-sponsored benefit plans and limit when changes can …
What Is a 529 College Savings Plan?
Quick Answer A 529 college savings plan is a tax-advantaged investment account designed to help families save for future education expenses. Key Features * Funds can be used for qualified education expenses. * Contributions are made with post-tax dollars. * Investment growth may be tax-free when used for elig…
