As part of our ongoing efforts to ensure that we provide quality benefits to our valued employees, we continuously review the scope, quality and cost of the service providers associated with our employee benefit plans. In 2024, we completed a formal review and renegotiation of the recordkeeping fees for the U. S. Mauser Packaging Solutions 401(k) plan and U.S. Mauser Packaging Solutions Bargaining Unit 401(k) plan (Mauser Vanguard Retirement Plans). We are happy to announce that this effort has led to a 30% reduction in those costs.
Effective 10/01/2024, The Vanguard Group, Inc. fee for annual plan recordkeeping for the Mauser Vanguard Retirement Plans will be reduced to $40 annually per participant1. The annual plan recordkeeping fee is automatically deducted from participant account balances on a quarterly basis so no specific action is required on the part of participants because of this change. This reduction from $57 annually results in a $17 savings for each participant.
This means more of your contributions remain in your investment earnings to grow for future use in retirement.
Connect with Vanguard®
Access your account at vanguard.com/retirementplans or call 800-523-1188. To review your investment options, visit your plan’s website: retirementplans.vanguard.com. You can obtain a free paper copy of the information on the website by calling Vanguard at 800-523-1188 or via TTY text telephone for the deaf or hearing impaired at 800-749-7273. No specific action is required as a result of this change.
Not registered for online access?
Visit vanguard.com/retirementplans and choose Sign up for online access. You will need your plan number: Mauser Packaging Solutions 401(k) plan 092237 or Mauser Packaging Solutions Bargaining Unit 401(K) plan 091573.