Page 20 - Future Steps
P. 20
2017 Benefits Enrollment
Retirement Savings Plan
401(k) Plan Once you satisfy these requirements you will become a participant in the
Fidelity Investments plan immediately.
You are eligible to participate in To enroll in the plan, log on to Fidelity NetBeneits at netbeneits.com,
the plan if: and click on “Register Now”.
You complete three months You may contribute between 1% and 90% of your eligible pay. You may
of service change your deferral percentage as applicable. Any changes made would
And you are not: take effect the beginning of the next payroll period.
Covered by a collective
bargaining agreement Your plan has an automatic enrollment feature. If the automatic
enrollment feature applies to you, and you do not take action, you will be
A nonresident alien who automatically enrolled at 3%. If you do not want to participate, you must
does not receive any US change the deferral percentage from your pay to 0%.
source earned income
from your employer If you are under age 50, the IRS contribution limit for 2017 is $18,000. If
you are age 50 or older, or will reach age 50 during this calendar year you
may make an additional “catch-up” contribution up to $6,000.
Roth 401(k)
Effective January 1,
2017 VER will match The Roth 401(k) allows you to contribute after-tax dollars, but then
25% of employee withdraw tax-free dollars from your account when you retire, provided
deferrals of the the distribution is “qualiied”. A qualiied distribution is one that is taken
first 6% of pre-tax
earnings. after the ive taxable year period beginning January 1 of the year for
which your irst designated Roth contribution to the plan is made (or
to a previous plan, if that amount was subsequently rolled over to the
distributing plan) AND you turn age 59½, become disabled, or die. If
you are eligible to make traditional pretax 401(k) contributions, you can
also make Roth 401(k) contributions. Your total contributions to the plan
(both Roth 401(k) deferrals and traditional pre-tax contributions) cannot
exceed IRS limits, or your plan’s limit, if less.
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Retirement Savings Plan
401(k) Plan Once you satisfy these requirements you will become a participant in the
Fidelity Investments plan immediately.
You are eligible to participate in To enroll in the plan, log on to Fidelity NetBeneits at netbeneits.com,
the plan if: and click on “Register Now”.
You complete three months You may contribute between 1% and 90% of your eligible pay. You may
of service change your deferral percentage as applicable. Any changes made would
And you are not: take effect the beginning of the next payroll period.
Covered by a collective
bargaining agreement Your plan has an automatic enrollment feature. If the automatic
enrollment feature applies to you, and you do not take action, you will be
A nonresident alien who automatically enrolled at 3%. If you do not want to participate, you must
does not receive any US change the deferral percentage from your pay to 0%.
source earned income
from your employer If you are under age 50, the IRS contribution limit for 2017 is $18,000. If
you are age 50 or older, or will reach age 50 during this calendar year you
may make an additional “catch-up” contribution up to $6,000.
Roth 401(k)
Effective January 1,
2017 VER will match The Roth 401(k) allows you to contribute after-tax dollars, but then
25% of employee withdraw tax-free dollars from your account when you retire, provided
deferrals of the the distribution is “qualiied”. A qualiied distribution is one that is taken
first 6% of pre-tax
earnings. after the ive taxable year period beginning January 1 of the year for
which your irst designated Roth contribution to the plan is made (or
to a previous plan, if that amount was subsequently rolled over to the
distributing plan) AND you turn age 59½, become disabled, or die. If
you are eligible to make traditional pretax 401(k) contributions, you can
also make Roth 401(k) contributions. Your total contributions to the plan
(both Roth 401(k) deferrals and traditional pre-tax contributions) cannot
exceed IRS limits, or your plan’s limit, if less.
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