Ok...So If I understand right...then I am only required to contribute to one and not both at the same time.
The only language that I read in the "Annual Notice" which is similar to all other plans as it is "boiler plates" is the language ..."You may make either Regular 401(k) deferrals (pre-tax) or Roth 401(k) deferrals (after-tax). If you make Regular 401(k) deferrals, your deferrals are not subject to income tax until distributed from the Plan. If you make Roth 401(k) deferrals, your deferrals are subject to income tax at the time of deferral. The Roth 401(k) deferrals, however, are not taxed when you receive a distribution from the Plan. In addition, if the distribution of Roth 401(k) deferrals is considered "qualified," then the earnings on the deferrals will not be subject to income tax when distributed from the Plan. Distributions from your Roth accounts will be considered "qualified" only if the distribution is on account of attainment of age 59 1/2, death or disability, and the distribution must not occur prior to the end of the 5-year participation period that begins with the first taxable year for which you made a Roth 401(k) deferral to the Plan, or if earlier, the first taxable year for which you made a Roth 401(k) deferral to another Roth 401(k) plan or Roth 403(b) plan that you rolled over to this Plan. Both types of deferrals are subject to Social Security taxes at the time of deferral. Your Employer will deduct the Social Security taxes, and in the case of Roth 401(k) deferrals will deduct income taxes, from your remaining compensation."
The summary plan is just that, a summary.
I was trying to contribute to a Roth but when I went into the website to make the changes, I was allowed to have my existing plan "Pre-Tax" and add a Roth plan. The system accepted it and I got an email confirm the "Additional Plan". I received my pay statement and noticed that my "Pre-Tax" was removed without my approval and replace with the Roth plan. an inquiry with my HR informed my that it is a standard practice that when a change is done, it is assumed that that is what the employee want, yet in this case it was not and there was not a single call to confirm my election. So I lost the employee match.
So I wasnt happy with the response as there was not a definite and reassuring answer and thus I requested the following and now I'm waiting for a response.
Disclosures that must be distributed upon participant request
401(k) plan participants have the right to receive certain plan information upon request – including latest SPD, the latest Form 5500 filing, any collective bargaining agreement that covers the plan, the trust agreement, a contract, or other instruments under which the plan is established or operated.
A participant must receive this information no later than 30 days after a written request.
A reasonable fee can be charged to the participant making the request. A reasonable charge would be the lesser of $0.25 per page or the actual cost per page using the least expensive means of acceptable reproduction.
