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Hussmann Safe Harbor Matching Contribution and True
Up
Hussmann Corporation matches 100% of your 401(k) deferrals up to 4% of your
eligible compensation. The Safe Harbor matching contribution is calculated and
deposited each pay period into your 401(k) account. If you change your salary
deferrals throughout the year, or you contribute the maximum amount permitted by
law, Hussmann Corporation may need to make a correction to the total matching
contribution called a “true-up contribution” during the irst half of the following
year to ensure you receive the accurate matching contribution. This could include an
additional contribution or a partial removal of a contribution based on your average
deferral across the full plan year.
Discretionary Match
Based on company performance, up to 2% discretionary match may be granted
following the end of the iscal year. To be eligible for this match, an employee must
contribute at least 6%.
If you have any questions regarding the above information, please call Transamerica
at 800.755.5801, or contact your Human Resources Business Partner.
401(k) IRS Deferral Limits
The IRS limits the amount you can defer from your paycheck pretax in 2017 to
$18,000 if you are under the age of 50. If you are over the age of 50, you can defer
an additional $6,000 for a total of $24,000. Please note: if you attain the age of 50 in
2017, the additional $6,000 can be deferred from your paycheck after you celebrate
your 50th birthday. The IRS deferral limits may change for 2018, and those amounts
will be communicated as soon as they are available.
Hussmann
34 Corporation
Up
Hussmann Corporation matches 100% of your 401(k) deferrals up to 4% of your
eligible compensation. The Safe Harbor matching contribution is calculated and
deposited each pay period into your 401(k) account. If you change your salary
deferrals throughout the year, or you contribute the maximum amount permitted by
law, Hussmann Corporation may need to make a correction to the total matching
contribution called a “true-up contribution” during the irst half of the following
year to ensure you receive the accurate matching contribution. This could include an
additional contribution or a partial removal of a contribution based on your average
deferral across the full plan year.
Discretionary Match
Based on company performance, up to 2% discretionary match may be granted
following the end of the iscal year. To be eligible for this match, an employee must
contribute at least 6%.
If you have any questions regarding the above information, please call Transamerica
at 800.755.5801, or contact your Human Resources Business Partner.
401(k) IRS Deferral Limits
The IRS limits the amount you can defer from your paycheck pretax in 2017 to
$18,000 if you are under the age of 50. If you are over the age of 50, you can defer
an additional $6,000 for a total of $24,000. Please note: if you attain the age of 50 in
2017, the additional $6,000 can be deferred from your paycheck after you celebrate
your 50th birthday. The IRS deferral limits may change for 2018, and those amounts
will be communicated as soon as they are available.
Hussmann
34 Corporation
