From: Howard Rothschild on behalf of 32BJ Benefit Funds – Employer Relations
To: Participating Employer (Resident Managers & Full-Time Superintendents Accounts Only)
Subject: Additional SRSP Contributions RAB ABA and RAB RM – Friendly Reminder
Dear Participating Employer,
I wanted to remind you of the benefits of the Additional Profit-Sharing Contribution available to all Resident Managers and Full-Time Superintendents. In case you are not aware, Employers may VOLUNTARILY ELECT to make an additional contribution to the Supplemental Retirement & Savings Plan (“Plan”) for Resident Managers and full-time Superintendents (“Additional Contribution”).
The benefits of the Additional Profit-Sharing Contribution for the members are:
- Tax-Deferred Earnings
- Helps build their nest egg for retirement
- Great way to reward your employees
- Employment retention
Employers deciding to make an Additional Lump Sum Contribution must complete the attached form by November 1st, 2022, and the contribution is due before or on December 20th, 2022. The Lump Sum Contribution may not exceed $10,000 or be less than $2,500. The Employer Relations Department will create the invoice and enter the member and the amount provided by the employer. This invoice can then be paid by the employer through the Employer Self Service system (ESS).
Please complete the attached SRSP Additional Contribution Authorization Form and ensure the form is completely filled out to avoid delays in processing. Once the form is submitted, the obligation to contribute cannot be revoked or canceled, providing that the employee is actively employed.
If you have additional questions, contact the Realty Advisory Board on Labor Relations, Inc. (RAB) at 212-889-4100 (or) Employer Services at 212-388-3354.
SRSP ADDITIONAL CONTRIBUTION AUTHORIZATION FORM