To be sent by: Newport via Email
Send on: Enrollment begin date
Subject: Caterpillar Inc. Supplemental Deferred Compensation Plan – Enroll by [Deadline]
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As a senior leader at Caterpillar, we are pleased to offer you the opportunity to participate in the Caterpillar Inc. Supplemental Deferred Compensation Plan (SDCP) for the 2020 Plan Year. You can enroll in SDCP for the remainder of 2020 now through [Deadline].
What is SDCP?
SDCP is a pre-tax savings and wealth accumulation plan — offered to you in addition to the 401(k) plan. SDCP allows you to save significantly more on a pre-tax basis than what is allowed under the 401(k) plan, giving you a greater, immediate tax benefit. Since elections made under this plan are irrevocable, please discuss your options with your financial and/or tax advisor before you enroll.
SDCP plan features
Deferrals
SDCP allows you to defer more of your pay on a pre-tax basis, including:
Base Pay |
Short-Term Incentive Plan (STIP) |
Excess Deferrals (Base Pay above the IRS Compensation Limit) |
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Investments
Once you make deferrals, you can invest your money in a variety of funds. Please keep in mind that Caterpillar’s Insider Trading Policy requires certain leaders to pre-clear transactions in Caterpillar stock, including changes to SDCP investment elections impacting the Caterpillar Stock Fund. If you are subject to the pre-clearance requirements under the Insider Trading Policy, please be sure to follow your normal pre-approval process before making any elections that impact your investments in the Caterpillar Stock Fund .
Additional resources available
You can receive personalized service with a professional benefit specialist through our toll-free client service center. In addition, you can:
How to make your 2020 elections
Visit newportgroup.com to select LOGIN and Participant Access.
The elections you make now will automatically carry over unless you make an alternate selection during the upcoming annual enrollment window. Enrollment for the 2021 Plan Year will occur in November, so please watch for more information in the coming weeks.
Don’t plan to enroll? Think again!
Even if you choose not to defer, you should still make a payment election, as you may receive an Annual Employer Credit after the end of the year. If you do not make a payment election, your account will be paid automatically in a lump sum six months following separation from the Company.
Questions?
Call the Participant Service Center at 1-800-230-3950 if you need help accessing your account or have any questions while enrolling. Representatives are available Monday through Friday from 7 a.m. to 7 p.m. Central time.