Page 19 - Lanter | 2022 Benefits Guide LAF
P. 19
RETIREMENT SAVINGS PLAN 401(K)
We partner with Lincoln Financial to provide you a 401(k) plan to help you feel secure and prepared for life after
your career.
How the Plan Works
X Employees are eligible to join the plan the irst X To be eligible for the company match and Proit-
day of the calendar month following 3 months of Sharing contributions you must have completed at
service and must be at least 18 years of age least 1,000 hours of service during the plan year
X You have the option of contributing to a and are employed by our company on the last day
Traditional 401(k), Roth 401(k), or both of the plan year
X You can contribute before-tax dollars to your X You choose how to invest your money in a variety
Traditional 401(k) account through payroll of investment options
deductions (up to the annual IRS limits) X You are always 100% vested in your own
X You can contribute after-tax dollars to your Roth contributions
401(k) account through payroll deductions (up to Vesting Schedule
the annual IRS limits); your savings are not taxed Less than 2 Years 0%
when you withdraw them at retirement 2-3 Years 20%
X The company match is 45% of the irst 6% of 3-4 Years 40%
your contributions on a pay period basis once you 4-5 Years 60%
become eligible 5-6 Years 80%
X In addition, each year the company may provide a 6+ Years 100%
Proit-Sharing contribution at the end of the plan
year once you become eligible
LANTER AIR FREIGHT 19
We partner with Lincoln Financial to provide you a 401(k) plan to help you feel secure and prepared for life after
your career.
How the Plan Works
X Employees are eligible to join the plan the irst X To be eligible for the company match and Proit-
day of the calendar month following 3 months of Sharing contributions you must have completed at
service and must be at least 18 years of age least 1,000 hours of service during the plan year
X You have the option of contributing to a and are employed by our company on the last day
Traditional 401(k), Roth 401(k), or both of the plan year
X You can contribute before-tax dollars to your X You choose how to invest your money in a variety
Traditional 401(k) account through payroll of investment options
deductions (up to the annual IRS limits) X You are always 100% vested in your own
X You can contribute after-tax dollars to your Roth contributions
401(k) account through payroll deductions (up to Vesting Schedule
the annual IRS limits); your savings are not taxed Less than 2 Years 0%
when you withdraw them at retirement 2-3 Years 20%
X The company match is 45% of the irst 6% of 3-4 Years 40%
your contributions on a pay period basis once you 4-5 Years 60%
become eligible 5-6 Years 80%
X In addition, each year the company may provide a 6+ Years 100%
Proit-Sharing contribution at the end of the plan
year once you become eligible
LANTER AIR FREIGHT 19
