Huntington Ingalls Industries Savings Plan ... - Benefits Connect

Huntington Ingalls Industries
Savings Plan SPD
March 2011
How To Enroll in the Savings Plan
Automatic Enrollment for Active Employees Transferred from Northrop
Grumman Corporation
If you are an eligible employee who transferred employment from Northrop Grumman
Corporation as a result of the Spin-Off and if your account balance under the Northrop
Grumman Savings Plan (NGSP) was transferred to this Plan within 45 days of the Spin-
Off, you are automatically enrolled in this Plan. Your deferral elections, investment
election and beneficiary designation under NGSP will be effective under this Plan. You
may change your elections and beneficiary designation by logging on to Your Benefits
Resources through HII Benefits Connect at http://hiibenefits.com and following the online
instructions. You may also call the Huntington Ingalls Benefits Center (HIBC) at 1-877-
216-3222.
Automatic Enrollment for New Hires and Rehires
If you are an eligible new hire or rehire or you transfer to a participating business unit, you
will be enrolled automatically in the Plan at a 2% tax-deferred contribution rate
approximately 45 days after your hire, rehire, or transfer date. Your contribution rate will
automatically increase by 1% each year to help you reach your retirement goals. If you do
not wish to participate in the Plan or the contribution rate escalation feature, you may
decline by logging on to Your Benefits Resources through HII Benefits Connect at
http://hiibenefits.com and following the online instructions. You may also call the
Huntington Ingalls Benefits Center (HIBC) at 1-877-216-3222. All contributions will be
invested in the Retirement Path portfolio based on your age. You can change your future
investment direction at any time.
If you participate in the Plan through automatic enrollment, be sure to go to Your Benefits
Resources or call the HIBC to designate your beneficiary.
Enrollment for Current Employees
If you are an active, eligible employee and you are not currently participating in the Plan,
you have two enrollment options:
• Quick enrollment: This option is designed for employees who want to enroll in the
Plan quickly and easily. If you elect this option, you will be enrolled in the Plan at a
tax-deferred contribution rate that provides the maximum company matching
contribution under your sub-plan (if applicable) or a minimum of 2%. Your contribution
rate will automatically increase by 1% each year to help you reach your retirement
goals. If you do not wish to participate in the contribution rate escalation feature, you
may decline by logging on to Your Benefits Resources through HII Benefits Connect
at http://hiibenefits.com and following the online instructions. You may also call the
Huntington Ingalls Benefits Center (HIBC) at 1-877-216-3222. Your contributions will
be invested in the Retirement Path portfolio based on your age. You can change your
future investment direction at any time. To take advantage of this time-saving feature,
simply log on to Your Benefits Resources through HII Benefits Connect at
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