How do we change a deferral amount?
If participants wants to change the dollar amount of their contribution, this change must be made at the cooperative. Each time money is submitted by the cooperative for deferred compensation accounts, the cooperative must also provide a Group Purchase Form for Contributions to Deferred Compensation Plan Accounts with allocation instructions unless the money is submitted by Direct Deposit ACH.
How do participants change fund purchase allocations?
If participants has an asset allocation model on their account, they control their allocations through the model by logging into their Homestead Funds account online and making changes. Refer to the Adding an Asset Allocation Model section for more information.
If participant do not have an asset allocation model, they will have to speak with the cooperative’s payroll department to make the updates. The cooperative will need to ensure the changes are reflected in the next payroll cycle’s Group Purchase Form or updated in the payroll system if using Direct Deposit ACH.
Neither asset allocation nor diversification guarantees a profit or protects against a loss in a declining market. They are methods used to help manage investment risk.