Chrysler SESP and HEDPP Plans
The Chrysler Salaried Employees' Savings Plan (SESP) and Hourly Employees' Deferred Pay Plan (HEDPP) 401(k) plans have several dozen mutual funds from a multitude of fund companies. These plans offer a wide range of funds to choose from to build a well diversified portfolio for your Chrysler 401k savings.
Please visit our “Fund Commentary” section below for further information on specific funds and/or fund types within the SESP and HEDPP accounts.
To the right you will find articles of interest as well as news and updates to Chrysler employee and retiree benefits. Check this page for future updates to the SESP and HEDPP plans, as well as news that affects Chrysler employees and retirees.
News and Updates
Chrysler PLM Award Payout - January 2014
Participants should be sure to review their current deferral election to confirm it is in line with their desired deferral for the PLM. Participants may need to make adjustments to the current election under the “Base Only” or “Total Contribution” options prior to the deadline.
Keep in mind, any deferred PLM Award will be applied toward the annual 401(k) contribution limit. The IRS limit for pre-tax contributions in 2014 is $17,500, with an additional $5,500 for participants age 50 or older. If the PLM deferral takes the participant to the contribution limit, any remaining amount will be paid in cash.
If you would like to discuss your PLM Award payment and the deferral options, do not hesitate to contact Mainstay toll-free at 1-866-444-6246.
Chrysler Pension Freeze – June 2013
If you have questions about the pension freeze, how you should manage the contributions in the EMRP, or how these changes will impact your retirement plan, contact Mainstay Capital Management toll-free at 1‑866‑444‑6246.
Chrysler 401(k) Plan Overhaul – January 2013
If you have questions about the plan overhaul and how your account should be invested in light of this announcement, contact Mainstay Capital Management toll-free at 1‑866‑444‑6246.
SESP & HEDPP Fund Change Announcement - September 2012
All remaining balances and future contributions will be transferred to the Eagle Small Cap Core Portfolio. The Eagle Small Cap Portfolio is currently an option in the plans.
Chrysler Plan Change - August 2011
The new investment option, Institutional Money Market Portfolio, provides a similar investment objective as the Chrysler Stable Value Fund, however differs in risk and return characteristics.
If you have questions about this change to the plan or any other plan provisions, contact Mainstay Capital Management toll-free at 1-866-444-6246.
SEIDP & ESSP Will No Longer Accept Deferrals
Effective January 2009, the SEIDP and the ESSP plans will no longer accept deferrals. In addition, all distribution elections previously in effect are cancelled and your total account will be distributed to you as a lump sum in January 2009. However, if you do not want to receive the lump sum distribution in January 2009, there are two alternatives.
Elections regarding the distribution of your lump sum must be made by December 31, 2008. If you would like assistance in choosing an option as it relates to your personal financial plan, do not hesitate to call us toll-free at 1-866-444-6246 to speak with a Financial Advisor.
For questions regarding any of the Chrysler Savings Plans, feel free to contact Mainstay Capital Management toll-free at 1‑866‑444‑6246 or send an email to firstname.lastname@example.org.
Chrysler Savings Plan Changes – Effective December 2008
Effective December 12, 2008, DWS Dreman High Return Equity Fund, Fidelity Dividend Growth Fund, and Goldman Sachs Structured Small Cap Collective Trust will be eliminated from the Savings Plans. Assets in these funds and future contribution to these funds will be transferred to the new funds at the close of business on December 12, 2008, accordingly:
As of December 17, 2008 the three new investment options will be available in the Savings Plans and participants will be able to access their transferred investments and make changes to how their account balance is allocated or how their future contributions are to be directed.
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