As a clarification and reminder to everyone, Seedorff will be making a strategic change to move our 401k plan from Empower to T Rowe Price. We are making this change to further utilize the expertise of our professional service provider, Captrust. Seedorff has used Captrust for many years to advise and assist us in selecting investment opportunities in the 401k program and make sure we are offering the best value possible to ourselves. We are confident Captrust’s expertise in retirement benefits programs will continue to allow us to provide the best services and investments we can find for the plan.     

Many of us have already seen and followed instructions from T Rowe Price to set up a new user account (Workplace Retirement | T. Rowe Price). It is important to know you will not see any funds or investments in that account yet ($0).  Setting up your T Rowe Price account is prep work for the change which will be happening later in July and finalized by August 16. You do not need to make changes to your current payroll elections, nor change any other aspect of your online investments detail.  The process to deduct from payroll and deposit into the 401k plan will remain seamless. Also, funds in the new T Rowe Price program have already been selected which match current offerings available to you through Empower. This includes the target date funds and other popular investments. Your current balances and future investments will be sent to the new matching fund in T Rowe Price.   

As always, if you have any questions or concerns regarding the upcoming change, please feel free to contact Sam Schlee in the Strawberry Point office.