Page 21 - 2018 Peak Benefit Guide
P. 21
Retirement Savings Plan IRS 401(k)
401(k) Maximums
For 2018, you can contribute up to
Your inancial security is important to you, your family, and to us as your $18,500 to your 401(k) account .
employer. We want you to feel secure and prepared for life after your If you are age 50 or will turn age
career. In partnership with Fidelity our 401(k) and Roth 401(k) plan is 50 by December 31, you may
contribute an additional “catch-up”
designed to help you plan ahead and feel prepared. contribution of $6,000 .
How the Plan Works
Employees are eligible to join the plan on your date of hire and can
enroll at any time
You can contribute before-tax dollars to your 401(k) account through
payroll deductions (up to the annual IRS limits)
You can contribute after-tax dollars to your ROTH 401(k) account
through payroll deductions (up to the annual IRS limits); your savings
are not taxed when you withdraw them at retirement
The company may match up to 50% of your contributions up to 6%
of eligible compensation on a pay period basis for every pay period
for which there is an employee pre-tax contribution
Maximum employee contribution for 2018 is $18,500; for participants
over age 50, the catch-up contribution amount allowed is $6,000
You choose how to invest your money in a variety of investment
options
Your company contributions are subject to a vesting schedule based
upon length of service
Five Year Graded Vesting Schedule
Years of Service Vesting Percentage
Less Than 1 0
1 20
2 40
3 60
4 80
5 100
Peak-Ryzex 21
401(k) Maximums
For 2018, you can contribute up to
Your inancial security is important to you, your family, and to us as your $18,500 to your 401(k) account .
employer. We want you to feel secure and prepared for life after your If you are age 50 or will turn age
career. In partnership with Fidelity our 401(k) and Roth 401(k) plan is 50 by December 31, you may
contribute an additional “catch-up”
designed to help you plan ahead and feel prepared. contribution of $6,000 .
How the Plan Works
Employees are eligible to join the plan on your date of hire and can
enroll at any time
You can contribute before-tax dollars to your 401(k) account through
payroll deductions (up to the annual IRS limits)
You can contribute after-tax dollars to your ROTH 401(k) account
through payroll deductions (up to the annual IRS limits); your savings
are not taxed when you withdraw them at retirement
The company may match up to 50% of your contributions up to 6%
of eligible compensation on a pay period basis for every pay period
for which there is an employee pre-tax contribution
Maximum employee contribution for 2018 is $18,500; for participants
over age 50, the catch-up contribution amount allowed is $6,000
You choose how to invest your money in a variety of investment
options
Your company contributions are subject to a vesting schedule based
upon length of service
Five Year Graded Vesting Schedule
Years of Service Vesting Percentage
Less Than 1 0
1 20
2 40
3 60
4 80
5 100
Peak-Ryzex 21
