TIH 401(k) Savings Plan

You’ve got plans—so it’s never too early to start thinking about retirement. The TIH Insurance Holdings, L.P. ("TIH") 401(k) Savings Plan can help you get there.


Eligibility and enrollment

You become eligible to enroll in the TIH Insurance Holdings, L.P. 401(k) Savings Plan on your first day of employment. Matching contributions from TIH begin after your one-year anniversary. (You must have worked at least 1,000 hours and be at least age 21). 

Enrollment in the plan and investment elections are done through Fidelity NetBenefits®. You can enroll at any time during the year.

Plan features

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  • Managed by Fidelity Investments®
  • Contributions can be made on a pre-tax or after-tax basis
  • TIH (including CRC Insurance Services, Inc.) matches contributions, aside from catch-up contributions, 100% on the first 4%, up to the IRS limit, after one year of employment.
  • Immediate vesting in the employer-matching contributions
  • Maximum contribution of up to 50% of your compensation (subject to any regulatory restrictions)
  • Earnings on pre-tax contributions are not taxed until you withdraw your money
  • Earnings on after-tax contributions are tax-free if taken at age 59½ or later from an account held for at least 5 years (other restrictions may apply)
  • Access to a broad range of investment funds
  • Optional account management services from Fidelity® Personalized Planning & Advice, investment professionals who invest, monitor, and rebalance your account as needed to adjust to changes in the market, or changes to your situation
  • Optional self-directed account through Fidelity BrokerageLink®, which provides an opportunity to invest in a broad range of investment options beyond those offered directly through the plan

With Fidelity NetBenefits®, you can access your 401(k) plan and resources to help make your best financial decisions.


401(k) withdrawals

In some cases, you may be able to withdraw funds from your TIH Financial Corporation 401(k) Savings Plan account while you are still employed. 

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Withdrawals will generally be subject to 20% withholding for federal taxes and applicable state taxes and an additional 10% early withdrawal penalty. You're limited to two withdrawals per calendar year. 

  • Age 59½ withdrawals
    Once you reach age 59½, you may withdraw your entire account balance or any portion thereof, even if you're still employed. The withdrawal will be subject to 20% withholding for federal taxes and applicable state taxes, but you won't incur the 10% IRS penalty for early withdrawal. 
  • Voluntary withdrawals
    Voluntary withdrawals (subject to restrictions) may be available prior to your reaching age 59½ and are subject to 20% withholding for federal taxes and applicable state taxes and a 10% IRS penalty for early withdrawal. You're limited to two withdrawals per calendar year. 
  • Hardship withdrawals
    Hardship withdrawals may be made for the following reasons:
    • Costs directly related to the purchase of your primary residence (not including mortgage payments)
    • Prevention of your eviction from, or foreclosure on the mortgage of, your primary residence
    • Home repairs for your primary residence not covered by insurance (not due to normal wear and tear)
    • Tuition, related educational fees, and room and board expenses for the next 12 months of post-secondary education for you, your spouse, children, or dependents
    • Medical expenses that are not covered by insurance for you, your spouse, or your dependents
    • Burial or funeral expenses

401(k) loans

The amount you may borrow from your TIH Financial Corporation 401(k) Savings Plan as a loan is limited by rules under the tax law.

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In general, all loans will be limited to the lesser of:

  • $50,000 reduced by your highest outstanding balance of loans from the Plan during the one-year period ending on the day before the loan is made (for example, if you take a $30,000 loan this year and pay it off, next year your maximum would be a $20,000 loan)
  • 50% of your account balance

The minimum loan amount is $1,000, and the interest rate will be the TIH prime rate plus 1%. Your account will be charged a $75 administrative fee per loan. You may take only one loan per plan year and may have only one outstanding loan at a time. Generally, loans must be repaid through payroll deductions with after-tax dollars over a period of one to five years. Log in to your 401(k) to request a loan.

Beneficiary designations

Beneficiary designations for the TIH Financial Corporation 401(k) Savings Plan are made on Fidelity NetBenefits®.


Retirement plan forms and legal notices