Page 12 - 2020-21 Sample Benefits Guide
P. 12
20XX
Retirement Savings Plan 401(k)
Your inancial security is important to you, your family, and to us as your employer. We want you to feel secure and
prepared for life after your career. In partnership with [Carrier], our 401(k) plan is designed to help you plan ahead
and feel prepared.
How the Plan Works [Carrier] Tools
Employees are eligible to join the plan [customize as [Carrier] offers retirement calculators and investment
needed] services which allow you to choose your own
You can contribute before-tax dollars to your 401(k) investments options or use a managed account plan
account through payroll deductions (up to the which does the hard work for you.
annual IRS limits)
You can contribute after-tax dollars to your Roth Remember to add a beneiciary for your 401(k) on
401(k) account through payroll deductions (up to the [Carrier] website through their convenient online
the annual IRS limits); your savings are not taxed beneiciary tool. Please note, you will need to elect a
when you withdraw them at retirement beneiciary for both your life insurance when you elect
your life insurance, as well as through [Carrier] for your
The company may match up to [x] % of your 401(k) plan.
contributions on a pay period basis once you
become eligible to participate
You choose how to invest your money in a variety IRS 401(k) Maximums
of investment options For 20XX, you can contribute up to $19,000 to your 401(k)
You are always 100% vested in your own account. If you are age 50 or will turn age 50 by December
contributions 31, you may contribute an additional “catch-up” contribution
of $6,000.
Your company contributions are subject to a vesting
schedule of [insert details]
12
Retirement Savings Plan 401(k)
Your inancial security is important to you, your family, and to us as your employer. We want you to feel secure and
prepared for life after your career. In partnership with [Carrier], our 401(k) plan is designed to help you plan ahead
and feel prepared.
How the Plan Works [Carrier] Tools
Employees are eligible to join the plan [customize as [Carrier] offers retirement calculators and investment
needed] services which allow you to choose your own
You can contribute before-tax dollars to your 401(k) investments options or use a managed account plan
account through payroll deductions (up to the which does the hard work for you.
annual IRS limits)
You can contribute after-tax dollars to your Roth Remember to add a beneiciary for your 401(k) on
401(k) account through payroll deductions (up to the [Carrier] website through their convenient online
the annual IRS limits); your savings are not taxed beneiciary tool. Please note, you will need to elect a
when you withdraw them at retirement beneiciary for both your life insurance when you elect
your life insurance, as well as through [Carrier] for your
The company may match up to [x] % of your 401(k) plan.
contributions on a pay period basis once you
become eligible to participate
You choose how to invest your money in a variety IRS 401(k) Maximums
of investment options For 20XX, you can contribute up to $19,000 to your 401(k)
You are always 100% vested in your own account. If you are age 50 or will turn age 50 by December
contributions 31, you may contribute an additional “catch-up” contribution
of $6,000.
Your company contributions are subject to a vesting
schedule of [insert details]
12
