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QuikTrip Corporation

Plan Overview – QuikTrip Corporation Retirement Plan ("Plan")

This site is intended to provide general information and answer questions you may have about your retirement plan. If you have additional questions, please email: retirement@quiktrip.com.

Your Plan Offers:

  • Automatic Enrollment / Automatic Increase
  • Online Enrollment
  • Company Matching Contributions
  • Loans and Hardship Withdrawals

Eligibility & Entry
You are eligible for the Plan: At age 21 and completing 1 year of service (1,000 hours)
You may enter the Plan: The beginning of the quarter following attainment of your eligibility

Automatic Enrollment
Unless you make a different election, once you are eligible, you will be enrolled in the Plan deferring 3% of your compensation.

Automatic Increase
On your second full Plan year following your entry date, if you haven’t opted out, your deferral will be increased by 1% per year until you reach 10%.

Employee Deferrals
You can defer (contribute) through payroll deductions:

  • 2% to 75% of your compensation in increments of 1%
  • You can change your deferral amount at any time

Company Contributions
Currently, the company makes a matching contribution at the rate of:

  • $0.50 for $1 on the first 6% you defer
  • Subject to a vesting schedule
  • Funded once per year, usually in July
  • Must be employed on the last day of the Plan year and have worked 1,000 hours

The above considerations merely summarize the major points of the Plan. In the event of a discrepancy between these points and the Plan Document, the Plan Document will control. The Plan Document is available for review in your Corporate Office.


Fund Choices

Vanguard Target Retirement 2060 VILVX Fact Sheet
Vanguard Target Retirement 2055 VIVLX Fact Sheet
Vanguard Target Retirement 2050 VTRLX Fact Sheet
Vanguard Target Retirement 2045 VITLX Fact Sheet
Vanguard Target Retirement 2040 VIRSX Fact Sheet
Vanguard Target Retirement 2035 VITFX Fact Sheet
Vanguard Target Retirement 2030 VTTWX Fact Sheet
Vanguard Target Retirement 2025 VRIVX Fact Sheet
Vanguard Target Retirement 2020 VITWX Fact Sheet
Vanguard Target Retirement 2015 VITVX Fact Sheet
Vanguard Target Retirement 2010 VIRTX Fact Sheet
Vanguard Target Retirement Income VITRX Fact Sheet
Aberdeen Emerging Markets Instl ABEMX Fact Sheet
American Funds EuroPacific Growth R5 RERFX Fact Sheet
Vanguard Mid-Cap Index VMCIX Fact Sheet
Vanguard Institutional Index VINIX Fact Sheet
American Funds Washington Mutual R6 RWMGX Fact Sheet
Western Asset Core Plus Bond WACPX Fact Sheet
Federated Prime Obligations Fund POIXX Fact Sheet


Disclosures

Not FDIC Insured | No Bank Guarantee | May Lose Value

For information about the funds offered as investment options in your Plan, call 1-866-412-9026 to obtain a prospectus. You may also select the link to download a prospectus for the mutual fund selected. Read the prospectus carefully before you invest. The prospectus contains important information about each fund's objectives, investment policies, fees and expenses. Investment return and principal fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original costs.


Frequently Asked Questions

GETTING STARTED: Contributions, Rollovers

When am I eligible to start contributing (deferring) to the QuikTrip Corporation Retirement Plan ("Plan")?
Eligible employees are at least 21 years old and who have completed at least one year of service. For purposes of determining whether you are eligible to participate in the Plan, a year of service is a 12-month period during which you complete at least 1,000 hours of service. The 12 months is initially measured from the date you are hired. If during the 12 consecutive months period following the date you are hired you do not complete at least 1,000 hours of service, the computation will start again as of the beginning of the Plan Year following your date of hire. The Plan Year is the 52 or 53 week period which ends on the Friday nearest to the last day in April.

What is the difference between deferring and contributing?
You defer a percentage of your pay and your employer contributes that amount to the Plan to be invested as you direct.

How do I start contributing to the Plan?
The Plan has Automatic Enrollment. That's the easiest way to participate. You don't need to do anything. If you are eligible, you are automatically enrolled in the 401(k) Plan on your enrollment date contributing 3% of your pay each pay period through payroll deduction.
If Automatic Enrollment is not for you, you may enroll in the 401(k) Plan by completing the Enrollment Steps after selecting My Account.
If you are enrolled automatically, your contribution is subject to Automatic Salary Deferral Increases. Your contribution will be increased 1% each year at the end of the Plan year (around May 1) until you are contributing 10% of your compensation.

Can I "opt out" of the Plan's Automatic Salary Deferral Increase?
You may elect out of the Automatic Salary Deferral Increase feature at any time. To do so, please select My Account on the upper right of this page. Input your User ID and Password, select "Contributions" from the dashboard, select "Edit Pre-tax", then select "I do not want to use pre-tax Bump It!".

Can I continue my yearly increases after I reach 10%?
In addition to the Plan’s Automatic Salary Deferral Increase (up to 10%), there is a voluntary increase called "Bump It!". Bump It! is an option for:

  • A participant who has reached 10% and would like to continue the annual increase.
  • Anyone who may have previously opted out of the Automatic increase and who would like to start the yearly increase again.

To do so, please select My Account on the upper right of this page. Input your User ID and Password, select "Contributions" from the dashboard, select "Edit Pre-tax", then select "I want to use pre-tax Bump It!". You may select the limit of your increase (Plan maximum is 75%).

How much can I defer to the Plan?
You can defer between 2% and 75% of your compensation with certain limitations.

What are catch-up contributions?
You are eligible to make additional contributions to the Plan, called catch-up contributions, if you are 50 years of age or older or turn 50 any time during the year. Please see the "Saver" section for the Annual Limits.

Is there a minimum I can defer to the Plan?
The minimum you can defer to the Plan is 2% of your compensation. The Plan document requires that you defer through payroll deductions in 1% increments.

How often can I make changes to my salary deferral?
You may change your salary deferral percentage at any time online or by calling the NestEgg U Customer Solutions Center.

Does QuikTrip match my deferral to the Plan?
QuikTrip will match $0.50 for each $1 deferred on the first 6% you defer. The match is subject to a 6-year graded vesting schedule. The match is funded once per year, usually in July. You must be employed on the last day of the Plan year (usually the end of April) and must have worked 1,000 hours in the Plan year to be eligible to receive the match.

Why must I fill out a Beneficiary Designation Form for our Plan?
You must specifically designate who you want to receive your Plan benefits in the event of your death. If you are married and want to designate someone other than your spouse, your spouse must also sign and have notarized the Beneficiary Designation Form.

How do I change my investment choices and how often may I change my investment choices?
You may change future investment elections or current investment mix at any time by selecting My Account on this site or by calling the NestEgg U Customer Solutions Center.

How do I roll my 401(k) Account from a previous employer into the Plan?
The first step is to request a distribution form from the Plan Administrator or Trustee of your previous 401(k) plan. Generally, you are required to complete and sign a rollover election form indicating that you want a direct rollover distribution to your new employer's 401(k) plan. When you complete the rollover election form indicate that the check distributing your account should be made payable to: "QuikTrip Corporation Retirement Plan, F/B/O (your name)." The check should be mailed to:

INTRUST Retirement
Attn: Rob Pfaff
100 N Main
MS 1.1
Wichita, KS 67201

How do I roll a Conduit (Rollover) IRA into the Plan?
The first step is to request a distribution form from your broker or mutual fund. Generally, you are required to sign a form indicating that you want a direct rollover distribution to your employer's 401(k) plan. When you complete the required form, indicate that the check should be made payable to: "QuikTrip Corporation Retirement Plan F/B/O (your name)." The check should be mailed to:

INTRUST Retirement
Attn: Rob Pfaff
100 N Main
MS 1.1
Wichita, KS 67201

How long will it take to rollover a 401(k) or IRA to our Plan?
Typically 2 to 4 weeks. There are situations where it can take longer. Be sure to keep a record of where and to whom you sent your distribution forms so you can follow up if there is a delay.

Investments

What are the investment options offered in the Plan?
The Plan’s investment options will allow you to select investments appropriate for your age and individual risk tolerance. To view the actual funds available, you may visit the "Fund Choices" section of this site.

General

How do I find my 401(k) account balance?
Quarterly statements are posted to your account. You may find out your account balances at any time by selecting My Account above.

I misplaced my User ID to access my retirement account online. How do I get a new one?
To obtain a new User ID, you may call 1-866-412-9026 and speak to a Customer Service Representative. The Customer Service Representative will give you a temporary User ID and password after verifying your identity.

Does my participation in the Plan impact my ability to contribute to an IRA?
You are able to contribute to IRAs and Roth IRAs when covered by an employer sponsored retirement plan. The IRS still requires you to abide by several income and participation rules that affect the deductibility of, or ability to contribute to IRAs or Roth IRAs. There are several rules and regulations covering IRAs and Roth IRAs and you are strongly urged to review your circumstances with your financial advisor or tax preparer.

DISTRIBUTIONS, VESTING and LOANS

How does the IRS calculate the penalties and taxes if I take money out of the Plan before 59½?
Distributions to a participant from a qualified retirement plan before age 59½ are subject to 20% Federal withholding and an early withdrawal penalty. There are exceptions to the early withdrawal penalty for pre-59½ withdrawals. State income tax may also apply. Please consult with your financial or tax advisor to see if those exceptions apply to your particular situation.

If I request a distribution from the Plan and ask that it be paid to me, how much does the IRS require to be withheld?
Generally, a distribution of your deferrals and any employer contributions made directly to a participant from a qualified plan are subject to 20% Federal withholding. State income tax may also apply. This withholding occurs at the time the distribution is made. If the distribution is a hardship distribution, it is subject to 10% Federal withholding unless you elect no withholding.

How do I get a loan from the Plan? How much can I get?
You may submit a loan request by selecting My Account above or by calling the NestEgg U Customer Solutions Center. Generally, you are able to borrow a minimum of $1,000 up to the lesser of $50,000 or 50% of your balance. You may only borrow from your salary deferrals. There is a one-time per loan $75 loan-processing fee. The interest rate charged for your loan is the published Prime Rate in the Wall Street Journal.

What is the process for taking out a loan?
You may submit a loan request by selecting My Account on this site, or by calling a Customer Service Representative at 1-866-412-9026, or by calling the Voice Response Unit. If the loan request is received before 3 p.m. M-F a check will be mailed out to the participant within 2 business days.

May I have two loans at one time?
You may have up to two open loans at one time, but you may only request one new loan per fiscal year.

What happens to my 401(k) balance if I leave the Company?
Once you have separated from service with QuikTrip, you may request a distribution of your benefits. The Plan has a set schedule for distributions from the Plan, either monthly (for your mutual fund holdings) or quarterly (for all QuikTrip stock).

  • If your Plan balance is $1,000 or less, a distribution packet will be mailed to you upon your separation from service. If you fail to return the Participant Distribution Election form within 30 days of receipt, the Plan has the right to liquidate your Account and distribute your vested balance to you less income tax withholding on the next available quarterly distribution date.
  • If your Plan balance is between $1,000 and $5,000, a distribution packet will be mailed to you upon your separation from service. If you fail to return the Participant Distribution Election form within 30 days of receipt, the Plan has the right to liquidate your Account and you do not request a distribution, and your balance will be automatically rolled over to an IRA on the next available quarterly distribution date.
  • If your Plan balance is over $5,000, a distribution packet will be mailed to you upon your separation from service. You may choose to leave your account balance in the Plan. If you own QuikTrip stock and choose to leave your money in the Plan, the QuikTrip stock will be liquidated at the next available date. You may also take your distribution as a lump sum, or roll your balance over to another qualified retirement plan or IRA on the next available distribution date.

How do I determine my vesting percentage?
Vesting is determined based on your years of service. Your vesting status in Employer Contributions can be found on your quarterly statement or by selecting My Account above and selecting on the gear shape at the top right hand corner of the screen. Then select the blue arrow by Status.

When will I be 100% vested in my 401(k) salary deferrals?
You are always 100% vested in salary deferrals you make to the plan and any related earnings on those deferrals.

When will I be 100% vested in the company matching contributions?
All company contributions are subject to a 6-year vesting schedule – 2 years of service – 20%; 3-40%; 4-60%; 5-80%; 6-100%.


New Enrollment

How do I start deferring to the Plan?
You are eligible to begin making contributions after you have met your eligibility requirements. Download our enrollment instructions for desktop or download our enrollment instructions for mobile and watch the videos in the Getting Started section on our Essential Videos page for details about the enrollment process.

To enroll, select My Account at the top of the page.