Plan Change:
Effective June 16, 2011, matching contributions made by Carlisle Corporation Employee Incentive Savings Plan will now be even more flexible! Currently50% of the Company’s matching contributions are invested automatically in the Carlisle Stock Fund. The remaining 50% of the Company’s matching contributions are invested in the investment fund options you have chosen for your account.You will now have the flexibility to direct the amount of Company Match that you wish to receive in Carlisle Stock, within a range of 0% to50%. This gives you more choice of where the Company Match money goes.
Why is this change being made?
Concentrating your investments in any one fund or investment type could be risky. Since investment styles will fluctuate in and out of favor, it is important to spread your contributions, or diversify, among different asset classes and investment styles. For example, when large cap growth funds perform well, another investment style—perhaps international funds—may not perform as well.
To help you diversify your investments, Carlisle is adding flexibility to how your contributions may be invested in the Carlisle Corporation Employee Incentive Savings Plan.
Date Change Goes into Effect:
The change will occur on June 16, 2011. At that time, if you wish, you’ll be able to change the amount of your Company Match that is currently 50% in the Carlisle Stock Fund to a different amount, within a range of 0% to 50%, and make other investment elections among the funds offered in the Plan.
What is the Current Company Match?
Carlisle makes matching contributions to the Plan. The Company’s matching contributions equal 100% of the first 3% of compensation you contribute to the Plan plus 50% of the next 2% of compensation you contribute to the Plan. For example, if you make $30,000 per year and contribute 6%, or $1,800, to the Plan, Carlisle will add an additional $1,200 in matching contributions. Please make sure you are taking advantage of this great feature!
If you have not selected investment fund options, 50% of the company’s matching contributions are invested in the Plan’s default fund. The default fund for employees hired prior to January 1, 2007 is the Federated Capital Preservation Fund. The default fund for employees hired on or after January 1, 2007 is one of tenWells Fargo Advantage DJ Target Maturity funds that most closely match your estimated year of retirement.
More Information Coming!
We will be mailing out a more detailed communication that will be sent to your home in the next few weeks. This will explain more about the change as well as illustrations on making changes to your account online or by phone.