401(k) Deferral of Signing Bonus and 3rd Quarter Profit Sharing
To: USW Represented Employees
Re: 401(k) Deferral of Signing Bonus and 3rd Quarter Profit Sharing
Under the newly ratified labor agreement, there will be a signing bonus paid to all eligible bargaining unit employees. If you wish to defer all or part of your signing bonus into your 401(k) Savings Plan you must change or make an ADM Bonus deferral election by logging in to your Fidelity account at www.401k.com by October 26, 2018 at 5:00 PM EST.
If you wish to change your bonus deferral election, to apply to the 3rd quarter Profit Sharing payment, you must change your ADM Bonus deferral election the week of October 29, 2018, but no later than November 2, 2018 at 5:00 PM EST.
Please note that if you currently have an ADM Bonus deferral election in the Fidelity system it will be applied to your signing bonus. If you do not wish to defer the signing bonus into your 401(k) you must change your ADM Bonus election by October 26, 2018 at 5:00 PM EST.
If you have any questions please contact your local Human Resources representative.
Cleveland-Cliffs Inc. Employee Benefits
Posted on 18 Oct 2018 by Pat Nylander