Page 15 - 2019 Murphy Benefits Enrollment
P. 15
2019
Murphy Company Benefits Enrollment
RETIREMENT SAVINGS PLAN IRS 401(k)
401(K) Maximums
Your inancial security is important to you, your family, and to us as your For 2019, you can contribute up to
$19,000 to your 401(k) account. If
employer. We want you to feel secure and prepared for life after your you are age 50 or older, you may
career. In partnership with Fidelity, our 401(k) plan is designed to help contribute an additional $6,000.
All contributions are made pre-tax.
you plan ahead and feel prepared.
How the Plan Works Fidelity Tools
Employees are eligible to join the plan on the irst of the month Fidelity offers retirement
following date of hire; the company match has historically been calculators and investment services
paid in February of the following year; proit sharing has a one year which allow you to choose your
waiting period own investments options or use a
You can contribute before-tax dollars to your 401(k) account through managed account plan which does
payroll deductions (up to the annual IRS limits) the hard work for you.
You can contribute after-tax dollars to your Roth 401(k) account
through payroll deductions (up to the annual IRS limits); your savings Remember to add a beneiciary for
are not taxed when you withdraw them at retirement your 401(k) on the Fidelity website
through their convenient online
You choose how to invest your money in a variety of investment beneiciary tool. Please note, you
options will need to elect a beneiciary for
You are always 100% vested in your own contributions both your life insurance when you
Your company contributions are subject to a vesting schedule elect your life insurance, as well as
illustrated in the chart below through Fidelity for your 401(k)
plan. Visit the Fidelity website
Discretionary Match/Discretionary Profit Sharing at www.401k.com for more
Years of Service for Vesting Percentage information on your plan and to
Less than 2 0% use their helpful tools.
2 20%
3 40%
4 60%
5 80%
6 100%
15
Murphy Company Benefits Enrollment
RETIREMENT SAVINGS PLAN IRS 401(k)
401(K) Maximums
Your inancial security is important to you, your family, and to us as your For 2019, you can contribute up to
$19,000 to your 401(k) account. If
employer. We want you to feel secure and prepared for life after your you are age 50 or older, you may
career. In partnership with Fidelity, our 401(k) plan is designed to help contribute an additional $6,000.
All contributions are made pre-tax.
you plan ahead and feel prepared.
How the Plan Works Fidelity Tools
Employees are eligible to join the plan on the irst of the month Fidelity offers retirement
following date of hire; the company match has historically been calculators and investment services
paid in February of the following year; proit sharing has a one year which allow you to choose your
waiting period own investments options or use a
You can contribute before-tax dollars to your 401(k) account through managed account plan which does
payroll deductions (up to the annual IRS limits) the hard work for you.
You can contribute after-tax dollars to your Roth 401(k) account
through payroll deductions (up to the annual IRS limits); your savings Remember to add a beneiciary for
are not taxed when you withdraw them at retirement your 401(k) on the Fidelity website
through their convenient online
You choose how to invest your money in a variety of investment beneiciary tool. Please note, you
options will need to elect a beneiciary for
You are always 100% vested in your own contributions both your life insurance when you
Your company contributions are subject to a vesting schedule elect your life insurance, as well as
illustrated in the chart below through Fidelity for your 401(k)
plan. Visit the Fidelity website
Discretionary Match/Discretionary Profit Sharing at www.401k.com for more
Years of Service for Vesting Percentage information on your plan and to
Less than 2 0% use their helpful tools.
2 20%
3 40%
4 60%
5 80%
6 100%
15
