401(K) Update: Vanguard to ADP

We are pleased to announce, effective November 1, 2023, Danos is partnering with ADP Retirement Services to make significant and exciting changes to the Danos, LLC 401(K) retirement plan. We chose ADP as our 401(k)-service provider to record keep and perform administrative services because of their solid commitment to outstanding administration, plan participant education, communications and quality service.

Improved Features
As an eligible participant in the plan, you will be offered a new array of services that can make it easier for you to save toward your retirement goals.

• Easy account access via internet and phone - You may access your account 24 hours a day, 7 days a week through the:
  • ADP 401k participant website
  • ADP mobile solutions app
  • Single sign-on functionality via the payroll portal
  • ADP 401k automated voice response system  

You will have the ability to view and perform transactions in your retirement plan account through each of these options.

• Interactive financial wellness solutions- You will have access to a wealth of retirement planning information and tools, including interactive calculators, to help prepare you for all of life’s financial challenges.
• A wide range of investment options – As a participant in the plan, you will have access to a broad range of investment options.

Important Information

• The process of converting our plan means that our plan will experience a “blackout period” beginning October 24 and is expected to end on or before December 14. Additional information regarding the blackout period will be distributed via mail to all participants.
• Our current Trustee is scheduled to transfer the current plan investments on or shortly after November 1, 2023, to the new plan trustee, Reliance Trust Company. Investment options will remain the same, and your current selection will be mapped to the same investment option. This process is called “mapping” and it enables your account balance to stay invested in the market during the blackout period. Additional information regarding the new investment options and mapping will be mailed to you along with the blackout notice.
• At the end of the blackout period, you will receive a welcome letter from ADP Retirement Services which will include a personal identification number (PIN) to access your account. This new PIN will permit you to access your account when you call the new Voice Response System or visit the new 401k website to request a current account balance or to change your investment and deferral options.

Stay Tuned

We’re excited about the upcoming changes and look forward to communicating more detailed information to you. The mailed material to follow will include the specific details of the transition process, a schedule of events, a listing of the services and tools available, and the resources offered to help answer your questions. Our goal is for you to be well-informed throughout the transition process, so you may take full advantage of the retirement plan.

If you have questions or need additional information, please contact [email protected].