Introduction

With over 30 investment options available, the Inteva Products 401(k) is among the best plans in the country. There are certainly enough funds in this plan to build a well-diversified portfolio for your Inteva Products 401k savings.

For your reference, we have provided a “Fund Commentary” section below for further information on specific funds and/or fund types within the Inteva Products 401(k).

Below you will find articles of interest as well as news and updates to the Inteva Products employee and retiree benefits. Check this page for future updates to the Inteva Products 401(k), as well as news that affects Inteva Products employees and retirees.


For Your Interest


Plan Updates

Inteva Fund Line-Up Changes – January 2017

Principal, the provider of the target-date funds in the Inteva 401(k) plan, has announced it will rename the Principal TrustSM Target Date Collective Investment Funds to the Principal LifeTime Hybrid Collective Investment Funds (CITs). This change takes place on January 1, 2017.

The new investment options will provide the same investment objective and expenses as the former funds. To discuss this change to the Inteva target-date fund, do not hesitate to contact us toll-free at 1-866-444-6246.

Inteva Products Fund Change Announcement – December 2015

Inteva Products has announced changes that will impact certain mutual fund investment options in the Inteva Products, LLC Salaried Employees’ Savings and Retirement Plan ("the Plan").

Three of the mutual funds currently offered in Plan will close and balances in these funds will be automatically directed to a new investment option unless participants elect otherwise. These changes impacting the Plan will take effect on February 1, 2016.

To discuss these important changes to the Inteva 401(k) plan line-up and how to allocate your portfolio accordingly, do not hesitate to contact Mainstay toll-free at 1-866-444-6246.

Improvements to Inteva Savings Plan Match for Salaried Employees – December 2015

Effective January 1, 2016, Inteva Products is making a change to the savings plan match for salaried employees. Inteva will continue to match 50% of Pre-Tax contributions up to 5% of base pay, excluding Catch-up contributions, but will now also match Roth contributions. Mainstay recommends that all Inteva salaried employees are contributing at least 5% (any combination of Pre-Tax and Roth) in order to take advantage of the company match.

Inteva Products Fund Change Announcement – January 2014

Inteva Products has announced changes that will impact certain mutual fund investment options in the Inteva Products, LLC Salaried Employees’ Savings and Retirement Plan ("the Plan").

The pending changes will include closing several of the mutual funds currently offered in Plan, as well as offering several new options. All changes impacting the Plan will take effect on April 1, 2014.

To discuss these important changes to the Inteva 401(k) plan and how to allocate your portfolio in light of the new investment menu, do not hesitate to contact Mainstay toll-free at 1-866-444-6246.

Principal Financial Group to replace Fidelity as 401(k) plan administrator – January 2011

Effective January 1, 2011, Principal Financial Group will replace Fidelity as the administrator for the Inteva Products Savings and Retirement Plans for Salaried and Hourly Employees. With Principal Financial Group, Inteva Products employees will continue to have online access to their account and plan provisions such as eligibility, waiting periods, and benefit structure will not change. As with any plan transfer there will be a short “black out period” where employees will not have access to accounts and some fund changes are to be expected. Employees will be made aware of the timing of the “black out period” and any fund changes prior to the transfer.

Reinstatement of savings plan match for Inteva Products Salaried Employees – October 2010

Beginning January 1, 2011, Inteva Products will reinstate the savings plan match for employees with at least six months of service. Inteva will match 50% of Before-Tax Contributions up to 5% of base pay, excluding Catch Up Contributions. Mainstay recommends that all Inteva salaried employees are contributing at least 5% in order to take advantage of the company match.

Special Note for Inteva Products Employees – April 2008

With the transition from Delphi to Inteva Products, employees have various options for the disposition of assets in their Delphi 401(k) account. The available options are:

  • Roll-over your account balance into the Inteva Products Savings Plan
  • Roll-over your account balance into an IRA
  • Leave your account balance in the Delphi 401(k)

Important - Any Delphi 401(k) assets rolled into the Inteva plan will be locked in that plan, and you will not be able to roll these assets to an IRA until age 59 1/2 or separation of service from Inteva.

Please contact us to discuss these very important 401(k) plan decisions and any retirement planning questions by calling toll-free 1-866-444-6246.


News and Articles


Fund Commentary

Principal LifeTime Hybrid Target Date Funds

The Principal LifeTime Hybrid Target Date fund family is designed for those participants who wish to base their asset allocation decision on a specific target date, typically aligning the account with the fund that most closely matches their projected retirement date.

Twelve of these funds are included in the plan, with 5-year incremental targets from 2010 to 2060, along with a fund targeted as an Income Fund. The way the target retirement funds are designed, the further away the target date, the more aggressive the asset allocation, conversely, the closer the date, the greater the emphasis on preservation of capital in the asset allocation.

These funds hold some appeal in that they are simple to explain and administer. While this approach is unique, we believe the asset allocation decisions provided by these funds are crude at best. Target date funds attempt to make decisions about asset allocation based solely on a target date. An investor’s tolerance for risk and financial goals are other key factors that should largely play a role in determining the investment strategy and asset allocation. Additionally, they leave no room for the fund manager to tactically adjust the strategy based on specific opportunities within the financial markets or in response to prevailing market conditions.

The returns realized in these commingled vehicles are diluted by a rigid adherence to mechanical allocation parameters. These parameters may prove to be shortsighted and inappropriate for everyone participating in the pool. The real world changes every day, yet proponents of target date funds expect someone to stick to a single game plan for as much as 40 years, whether interest rates are rising or falling, or whether the economy is in expansion or recession. While target date funds offer a simple one-stop-solution, we continue to advise participants to avoid target date funds and retain the flexibility to proactively adjust their portfolios as needed.

Please reference The Problem With Target-Date Funds


 

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Important Consumer Disclosure

Mainstay Capital Management, LLC is an investment advisor registered with the Securities and Exchange Commission. Due to various state regulations and filing requirements, Mainstay and its representatives may only provide investment advisory services in those states in which it is first appropriately registered or otherwise exempt or excluded from registration requirements. The purpose of this website is to provide the public with general information about the services offered by our investment management firm. Mainstay does not render personalized investment advice or services or effect, or attempt to effect any securities transactions, on this website. Our firm continuously monitors its filing requirements in all states, and will provide individualized advisory services only in accordance with various state regulations. Mainstay does not make any representations or warranties as to the accuracy, completeness, or relevance of any information prepared by any unaffiliated third party provider, whether linked to Mainstay's website or incorporated herein. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.