401(k) PLAN
401(k) PLAN
Our 401(k) savings plan helps you build security for your future by allowing your savings, company-matching contributions, and investment earnings to grow on a tax-deferred basis.
ELIGIBILITY AND ENROLLMENT
You are eligible to enroll in our 401(k) plan after 90 days of employment. Our 401(k) plan includes an Automatic Deferral Program, which means eligible employees are automatically enrolled in the plan unless they elect not to be. Any new eligible employees who wish not to participate must complete and return the APG 401(k) form that was sent to them, indicating on the form that they choose not to make salary deferrals to the plan at this time. Those who do not fill out the enrollment form will be automatically enrolled in the plan, and a 3% deferral of gross wages will be deducted weekly and deposited into their 401(k) account. The automatic deferral will be invested in the most appropriate Target Retirement Fund nearest the expected date of retirement of the eligible employee.
You can always change the amount you want to contribute into your 401(k) account, or cease contributions until further notice. Log on to Empower to select a new contribution percentage. Changes made by end-of-day Tuesday will be reflected on the current week’s payroll.
WHEN CAN I MAKE WITHDRAWALS?
Generally, you may withdraw vested funds for three reasons:
- You reach age 59 ½
- You become disabled
- You leave APG
There is an extra 10% tax on distributions before age 59 ½. However, those who have reached the age of 55 and are 100% vested can rollover their matching balance into an IRA without the tax penalty.
You can borrow up to 50% of your vested balance (the minimum loan amount allowed is $1,000) and may withdraw funds if you have a hardship. Unlike loans, hardship distributions are subject to the extra 10% tax and must be for an immediate and heavy financial need for a reason defined by the IRS.
HOW CAN I CHANGE MY INVESTMENTS?
To review your balance, adjust your contribution, or change investment elections, log on to www.empower.com/login-v1 or call Empower at 855.756.4738.
Questions regarding any of our investment funds and requests for investment advice should be directed to our investment adviser, Matthew J. Bostwick at 810.355.8502 or matt.bostwick@www.apg.company.
Offices: Clearwater • Lakeland
Corporate Headquarters
4825 140th Avenue North
Clearwater, Florida 33762
727.530.0077
© 2025 APG. All Rights Reserved. | Terms of Use
Offices: Clearwater • Lakeland
Corporate Headquarters
4825 140th Avenue North
Clearwater, Florida 33762
727.530.0077