Annual contributions are fully funded by the Company.
plan # 092133
Annual contributions are fully funded by the Company.
All employees (excluding interns and co-ops) are automatically enrolled in the plan when they are hired. Employees must be on the Intact payroll on the last business day of the year to receive a contribution for that year.
All annual contributions are made by the company. There are potentially two types of contributions: an annual fixed contribution and an additional variable contribution.
Typically both the fixed and variable contributions (if applicable) are made during the first quarter of the year following the calendar year for which a contribution is made. The variable contribution is determined by the Board of Directors based on to what extent the company has achieved its annual financial goals. Both the fixed and variable contributions will be invested based on the investment election each participant has on file with Vanguard.
All employees are eligible for the fixed contribution. Employees who participate in any long-term incentive plans are not eligible to receive a variable contribution.
Intact Insurance Specialty Solutions is the marketing brand for the insurance company subsidiaries of Intact Insurance Group USA LLC. Coverages may be underwritten by one of the following insurance companies: Atlantic Specialty Insurance Company, a New York insurer; Homeland Insurance Company of New York, a New York insurer; Homeland Insurance Company of Delaware, a Delaware insurer; OBI America Insurance Company, a Pennsylvania insurer; OBI National Insurance Company, a Pennsylvania insurer; or The Guarantee Company of North America USA, a Michigan insurer. Each of these insurers maintains its principal place of business at 605 Highway 169 N, Plymouth, MN 55441, except The Guarantee Company of North America USA, which is located at One Towne Square, Southfield, MI 48076. This material is intended as a general description of certain types of insurance coverages and services. Coverages and availability vary by state; exclusions and deductibles may apply. Please refer to your insurance policy or consult with your independent insurance advisor for information about coverages, terms and conditions. Some coverage may be written by a surplus lines insurer through a licensed surplus lines broker. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.