Welcome to The Pure Pharmacy 401k Plan

On this page you will find information about your options regarding the Pure Pharmacy 401k Plan. This plan can play a vital role in providing for your financial future and offers an array of options for you to control your tax liability, invest your money, and access financial advice that is centered around your needs. Keep scrolling below to learn more, or if you have questions, please feel free to contact us at getstarted@infinitivewealth.com.

First, some basics:

 

how do I enroll?

Enrollment in the plan is automatic. Unless you choose otherwise, 4% will be withheld from your pay and will be matched 100% by your employer.

what if i don’t make an investment election?

In the event that you are hands-off with your plan, but still making contributions, your funds will be automatically invested in the Target-Date Fund that most closely aligns with the year you turn 65.

How Does Participating Affect My Taxes?

You are in control with the Pure Pharmacy 401k Plan. You can elect to participate in either the Traditional 401k or access the ROTH(k).

With the traditional plan, both your contributions and employer match are made pretax, meaning that you will not pay tax on either of these contributions. Instead, tax will be applied when you withdrawal your funds at some point in the future.

Conversely, if you elect to participate in the ROTH(k), your contribution to the plan will be taxed as income in the year it was earned. It is important to note that currently, your employer match must still be made as pretax - though, there is legislation in process that may change this soon.

What are my investment options?

The design of this plan was to keep things simple for the employees of Pure Pharmacy. Therein, the menu of investment choices are limited to three general categories:

  • Stable Value Fund

  • Target-Date Funds

  • Index Funds

To learn more about your plan’s investment options, please see below.

How much can I save?

As of 2023, the IRS allows for you to save up to $22,500 per year. Additionally, for employees age 50 and over, catch-up contributions of $7,500 can be withheld.

Can I access my account while still working?

Your plan accommodates certain types of withdrawals while you are still employed, such as loans and in-service distributions. To learn more about your loan and withdrawal options, please refer to your Summary Plan Description.

What is a summary Plan description?

The overall guide to any plan is referred to a Summary Plan Description or “SPD”. Versus a simple overview, like this, your SPD will cover details for the entirety of your plan. You can access your plan’s SPD by clicking on the link below.

Pure Pharmacy 401k Plan Summary Plan Description

Let’s Talk About Who’s Who:

Presenting Your 401k Team

  • Pure Pharmacy [plan sponsor]

    Pure Pharmacy is your 401k sponsor. They have elected to provide this plan, hired the plan advisors, and will be making the matching contributions to the plan.

    Email Sponsor

  • Infinitive Wealth Advisory [plan advisor]

    Infinitive Wealth Advisory has been selected by Pure Pharmacy to serve as the advisor to the plan as well as its employees. It’s important to know that Pure Pharmacy has elected to hire Infinitive Wealth Advisory in an advisory capacity and has elected to pay this fee on behalf of its employees, meaning that employees of Pure Pharmacy, whether they participate in the plan or not, have access to our firm for limited advisory services.

    Infinitive's Services

  • Securian [plan provider]

    Securian has been selected as the plan provider. For all intents and purposes, they are the firm that will actually be your 401k company. Your account is held with Securian, investments are made through them, and any other financial transactions will be performed through them.

    If prompted, your plan ID number is: 086728

    Securian's Retirement Site

What’s 0n the Menu?

Your Investment Options

  • Stable Value Fund

    Reliance MetLife Stable Value Fund

  • Index Funds

    Vanguard Short-Term Bond Index Admiral

    Vanguard Total Bond Market Index Admiral

    iShares S&P 500 Index Service

    Vanguard Mid Cap Index Admiral

    Vanguard Small Cap Index Admiral

  • Target-Date Funds

    TIAA-CREF Lifecycle Index 2020 Advisor

    TIAA-CREF Lifecycle Index 2025 Advisor

    TIAA-CREF Lifecycle Index 2030 Advisor

    TIAA-CREF Lifecycle Index 2035 Advisor

    TIAA-CREF Lifecycle Index 2040 Advisor

    TIAA-CREF Lifecycle Index 2045 Advisor

    TIAA-CREF Lifecycle Index 2050 Advisor

    TIAA-CREF Lifecycle Index 2055 Advisor

    TIAA-CREF Lifecycle Index 2060 Advisor

    TIAA-CREF Lifecycle Index 2065 Advisor

    [If you do not make an investment selection, your funds will be invested automatically in the Target-Date Fund that most closely aligns with the year you turn 65.]

A Quick Word On Fees:

  • Summary

    There are three sources of fees that you may incur: Investment, Administrative, and Individual.

    For the most part, the bulk of the fees that you will pay as a participant of the plan will be investment expenses based on the funds you select.

  • Investment Expenses

    Investment expenses are based on the fund(s) that you select for your account. The fees vary based on the investment you select and are deducted from your performance on a daily basis. These fees are to cover the management and operating costs of the funds themselves.

  • Administrative Expenses

    While your plan has administrative expenses, your employer has elected to cover all of them on your behalf. You will not see any administrative expenses added to your account.

  • Individual Expenses

    Certain actions, such as taking a loan, can trigger individual expenses. Currently, there are four applicable individual expenses:

    Distribution Processing: $60

    Distribution Wire Fee: $20

    Loan Set-Up Fee: $150

    Loan Re-amortization Fee: $150

Looking for more personalized information?

getstarted@infinitivewealth.com
(317) 450-6326