Page 23 - 2022 CAPREIT Benefits Guide

401K Savings Plan

CAPREIT offers a 401(k) savings plan for employees to assist you in saving for retirement. You will be automatically
st
enrolled in the plan at 3% of your pay with an annual increase each January 1 of 1% of pay until you reach a 6%
rate of deferral. You can defer more at the start if you would like.

Plan Highlights

•You will be enrolled in the plan if you are over age 21 and have worked for for one month.
•You can save between 1% to 90% of your pay.
•You can contribute up to $20,500 out of your own pay each calendar year ($27,000 if you are over 50).
•The company may match up to 3% of your contribution.
•You can contribute with before tax (traditional) or after-tax (Roth) dollars. Any match is always before tax dollars.

How to Enroll?

•Log into your account at www.mykplan.com
•Designate an account beneficiary ASAP
•Track your progress using ADP Mobile Solutions app
•Questions? Call Participant Services 800-695-7526

Plan number: 423183

Traditional 401(k) Roth 401(k)
Employee Contributions Before-tax dollars After-tax dollars

Account Growth (earnings) Tax-deferred until distribution Tax-free at distribution
(if distribution is qualified)
Federal Tax Reduces current taxable income by Contribution is taxable in current year
contribution amount No taxes due on qualified withdrawals*

Taxes paid at withdrawal
Distributions Available at age 59½ Tax-free, provided you had the account for at least five
years and you are:
• at least age 59½, or are

• disabled or deceased

Your Benefits Guide 2022