Page 26 - ABM 2021 Benefit Guide MGT HI
P. 26
ABM 401(K) EMPLOYEE SAVINGS PLAN
The ABM 401(k) Employee Savings Plan (the "401(k) Plan") ofers you an excellent opportunity to
save for your retirement by deferring a percentage of your pay on a pre-tax basis.
Eligibility Investment Options
Eligible team members can participate in Through Merrill Lynch, you have access to a
the plan on the irst of the month following variety of investment options. If you are not
completion of 6 months of qualifying service. sure how to invest the money in your account, a
This plan is not available in Puerto Rico. Merrill Lynch representative can ofer guidance.
To see the investment options available, log in
If you are a rehired team member who to beneits.ml.com.
previously qualiied for the ABM 401(k)
Team Member Savings Plan, you will qualify Catch up Contributions
immediately upon your rehire. If you will reach age 50 in 2021 or are older
Company Match than 50, you can defer additional amounts
called “Catch Up Contributions.” The catch up
ABM will match 100% of the irst 3% and 50% amount is determined by the IRS. For 2021, the
of the next 2% of your eligible compensation catch up amount is $6,500*.
that you contribute. To receive the maximum
company match of 4% you need to contribute Rollovers
5% of your eligible compensation. Rollovers (i) from another tax-qualiied
Maximum Contribution Amount retirement plan, (ii) of pre-tax contributions from
a 403(b) tax-deferred arrangement, or (iii) of
You may defer (contribute) up to 50% of your pre-tax contributions from a government 457
eligible earnings once you are eligible for the plan may be accepted by the Plan. But after-
plan, pre-tax, up to the annual IRS limit. For tax contributions are not eligible to be rolled
2021, the limit is $19,500*. over into the Plan. Be sure to consider the
advantages and disadvantages of a rollover
Your participation can begin on the irst of the before initiating one.
month following completion of 6 months of
service, or the irst of any subsequent month as Visit Merrill Lynch (the Plan’s record keeper and
soon as administratively practicable. trustee) at beneits.ml.com or call the Merrill
Lynch Retirement Center at 888.221.9867 Mon-
Vesting Fri from 8 a.m. - 7 p.m. ET to do the following:
Your contributions and match are immediately Enroll
vested. This means you have a non-forfeitable
right to all money in your account. Change your contributions
Change your investment elections
Designate a beneiciary
26 2021 Benefits Enrollment * At the time of this publication, the IRS had not released an updated
2021 limit.
The ABM 401(k) Employee Savings Plan (the "401(k) Plan") ofers you an excellent opportunity to
save for your retirement by deferring a percentage of your pay on a pre-tax basis.
Eligibility Investment Options
Eligible team members can participate in Through Merrill Lynch, you have access to a
the plan on the irst of the month following variety of investment options. If you are not
completion of 6 months of qualifying service. sure how to invest the money in your account, a
This plan is not available in Puerto Rico. Merrill Lynch representative can ofer guidance.
To see the investment options available, log in
If you are a rehired team member who to beneits.ml.com.
previously qualiied for the ABM 401(k)
Team Member Savings Plan, you will qualify Catch up Contributions
immediately upon your rehire. If you will reach age 50 in 2021 or are older
Company Match than 50, you can defer additional amounts
called “Catch Up Contributions.” The catch up
ABM will match 100% of the irst 3% and 50% amount is determined by the IRS. For 2021, the
of the next 2% of your eligible compensation catch up amount is $6,500*.
that you contribute. To receive the maximum
company match of 4% you need to contribute Rollovers
5% of your eligible compensation. Rollovers (i) from another tax-qualiied
Maximum Contribution Amount retirement plan, (ii) of pre-tax contributions from
a 403(b) tax-deferred arrangement, or (iii) of
You may defer (contribute) up to 50% of your pre-tax contributions from a government 457
eligible earnings once you are eligible for the plan may be accepted by the Plan. But after-
plan, pre-tax, up to the annual IRS limit. For tax contributions are not eligible to be rolled
2021, the limit is $19,500*. over into the Plan. Be sure to consider the
advantages and disadvantages of a rollover
Your participation can begin on the irst of the before initiating one.
month following completion of 6 months of
service, or the irst of any subsequent month as Visit Merrill Lynch (the Plan’s record keeper and
soon as administratively practicable. trustee) at beneits.ml.com or call the Merrill
Lynch Retirement Center at 888.221.9867 Mon-
Vesting Fri from 8 a.m. - 7 p.m. ET to do the following:
Your contributions and match are immediately Enroll
vested. This means you have a non-forfeitable
right to all money in your account. Change your contributions
Change your investment elections
Designate a beneiciary
26 2021 Benefits Enrollment * At the time of this publication, the IRS had not released an updated
2021 limit.
