Summary of Material Modification (SMM) - Amendment 2020

Please note that there is a new Summary of Material Modification (SMM) posted to AGNES under Benefits for the 401k Plan.  An amendment was made to the plan effective 10.1.20 regarding terminated participants with vested account balances between $1 - $5,000.  If a terminated participant does not elect a distribution within a reasonable time period after termination by either electing a cash distribution or rolling over their account to another qualified retirement plan or IRA, the Absolute Concrete 401k Plan will automatically roll these vested account balances over to another IRA outside the plan. Please take a moment to read the SMM for more detail.

Any questions regarding Amendment 2020-1 can be directed to the Human Resources Department.

Ben Fasse - Director of HR
bfasse@ag-iowa.com
(515) 497-6124