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| RETIREMENT SAVINGS PLAN |
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Borrowing & Withdrawing
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Loan Provision
You are strongly advised to consider the advantages, disadvantages,
and alternatives to requesting a loan from your retirement savings plan.
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for more information. However, the Valassis Employees' Retirement Savings
Plan does allow you to borrow money from your plan account as long as
you have a vested account balance of at least $2,000. There is a loan
origination fee of $50.00. The minimum amount you may request is $1,000.
Beginning in 2008, you can have only one loan outstanding at a time.
Valassis Communications, Inc. and NCH associates paid through ADP that
currently have two loans outstanding will be allowed to continue payments
on these loans but will not be allowed to take another loan until both
loans are paid in full. To request a loan, contact JPMorgan at 1-800-345-2345
or log on to www.retireonline.com.
The interest rate will be the prime rate in the Wall Street Journal
on the first day of every month.
The maximum repayment period for regular loan is a maximum period of
five years. A loan taken for the purchase of primary residence has a
maximum repayment period of 10 years. Proof of the residential purchase
must be submitted with the loan application.
Loan payments (plus interest) are automatically deducted from your
paycheck though after-tax payroll deductions, usually beginning in the
month after the loan proceeds are received from the participant.
You can prepay your outstanding balance in full at any time. However
partial prepayments are not allowed. In order to obtain your loan payoff
amount and payment instructions, please call the JPMorgan Retirement
Plan Services at 1-800-345-2345. Payoff amounts are to be sent directly
to JPMorgan.
If you terminate your employment with the company, JPMorgan will give
you the opportunity to repay your loan in full after you leave the company.
If you do not repay your loan within 60 days from the date you terminate
employment, the outstanding amount of your loan could then be deducted
from your account and will be considered a distribution. You would then
be subject to federal and state taxation on the loan amount plus interest.
If you are younger than age 59 1/2, you may be subject to a 10% excise
tax penalty on this amount as well.
 
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