Page 29 - AESC 2019 Benefits Gudie
P. 29
401(k)
The Envision AESC 401(k) Plan (“Plan”) offers you an important
retirement savings opportunity that is designed to help you achieve your
long-term savings goals by providing matching contributions, a company
annual retirement (CAR) contribution, and the ability to choose whether
your elective deferrals are made on a pre-tax or after-tax (Roth) basis.
Following are the key features of the Envision AESC 401(k) Plan. For
additional information, please refer to the plan’s summary plan description
(SPD) or contact Human Resources.
X Vendor—Envision AESC has partnered with T. Rowe Price to serve
as the Plan’s record keeper; your plan offers online tools and services
to help you choose a saving and investing strategy; you will have access
to choose from a variety of mutual funds representing all major asset
classes; if you do not make an investment election, contributions will
be automatically invested in the T. Rowe Price Retirement Fund with a
target date closest to your 65th birthday
X Eligibility—You are immediately eligible to participate in the Plan;
once enrolled, it may take one or two pay periods for your elective
contributions to be deducted from your paycheck
X Automatic enrollment—You are automatically enrolled in the
Envision AESC 401(k) Plan at 3%, which means 3% of your before-tax
pay will be deducted from your paycheck and contributed to your 401(k)
Plan account; please keep in mind that to receive the full Company
match, you must contribute at least 6% to your Plan account; you can
change your contribution percentage at any time by contacting T. Rowe
Price at 800.922.9945
X Automatic escalation—Your contribution rate will increase 1%
each year on January 1 until it reaches 10%; you can change your
contribution percentage at any time by contacting T. Rowe Price at
800.922.9945
Y You may contribute up to 50% of your before-tax pay in before-tax
or after-tax Roth contributions, subject to IRS salary deferral limits;
if you are or will be age 50 this year and contribute the maximum
elective deferral amount, which is $19,000 for 2019, to your plan
account, you may make additional “catch up” contributions to your
plan account up to the IRS catch-up limit, which is $6,000 for 2019
Envision AESC 29
The Envision AESC 401(k) Plan (“Plan”) offers you an important
retirement savings opportunity that is designed to help you achieve your
long-term savings goals by providing matching contributions, a company
annual retirement (CAR) contribution, and the ability to choose whether
your elective deferrals are made on a pre-tax or after-tax (Roth) basis.
Following are the key features of the Envision AESC 401(k) Plan. For
additional information, please refer to the plan’s summary plan description
(SPD) or contact Human Resources.
X Vendor—Envision AESC has partnered with T. Rowe Price to serve
as the Plan’s record keeper; your plan offers online tools and services
to help you choose a saving and investing strategy; you will have access
to choose from a variety of mutual funds representing all major asset
classes; if you do not make an investment election, contributions will
be automatically invested in the T. Rowe Price Retirement Fund with a
target date closest to your 65th birthday
X Eligibility—You are immediately eligible to participate in the Plan;
once enrolled, it may take one or two pay periods for your elective
contributions to be deducted from your paycheck
X Automatic enrollment—You are automatically enrolled in the
Envision AESC 401(k) Plan at 3%, which means 3% of your before-tax
pay will be deducted from your paycheck and contributed to your 401(k)
Plan account; please keep in mind that to receive the full Company
match, you must contribute at least 6% to your Plan account; you can
change your contribution percentage at any time by contacting T. Rowe
Price at 800.922.9945
X Automatic escalation—Your contribution rate will increase 1%
each year on January 1 until it reaches 10%; you can change your
contribution percentage at any time by contacting T. Rowe Price at
800.922.9945
Y You may contribute up to 50% of your before-tax pay in before-tax
or after-tax Roth contributions, subject to IRS salary deferral limits;
if you are or will be age 50 this year and contribute the maximum
elective deferral amount, which is $19,000 for 2019, to your plan
account, you may make additional “catch up” contributions to your
plan account up to the IRS catch-up limit, which is $6,000 for 2019
Envision AESC 29
