Your Wealth

2024 Puerto Rico 1165(e) Retirement

Banco Popular

Plan is administered through Banco Popular de Puerto Rico.

  • You must be 21 years of old to be eligible to participate.
  • You can enroll and make adjustments to your 1165(e) plan contribution biweekly throughout the year.
  • The plan will automatically make a match of 100% of the first 5% of cash compensation (base pay + annual incentive/commissions) which you defer into the plan, at each payroll period.
  • To take advantage of the full company match, contribute at least 5% of your cash compensation (base pay + annual incentive/commissions) to the plan.
  • The plan will also make an additional contribution, the PURPLE Stock Award. This contribution represents 5% of your cash compensation (base pay + annual incentive/commissions), in the form of Crown Castle stock, and is made in the first quarter of the calendar year. You must be employed by Crown Castle on December 31 of the plan year to be eligible for the PURPLE Stock Award. Although the PURPLE Stock Award is made in the form of Crown Castle stock, you may freely and immediately reinvest it according to your preferences.
  • New teammates will be automatically enrolled in the 1165(e) Plan with a 6% salary deferral on the first day of the month following 3 months of employment. If you don't wish to be automatically enrolled, you may opt out by electing to defer 0%.
  • For 2024 the Puerto Rico Internal Revenue Code limit is $15,000 or $16,500 if 50+.
  • We strongly encourage our employees to invest in their retirement future and to contribute to the 1165(e) retirement plan.
  • The company match and PURPLE Stock Award vests 33% after one year of service; 67% after 2 years of service; and 100% after 3 years of service.
  • The plan offers a variety of fund options to help you make investment decisions by creating your investment portfolio. You can select your investments and the allocation percentages in each fun.