Page 18 - TimkenSteel 2022 Benefit Guide

401(k) RETIREMENT

SAVINGS PLAN

Whether retirement is way down the road or just around the corner, it’s important to have savings
goals and specific investment objectives. To help you meet your goals and objectives, we offer a
401(k) Retirement Savings Plan, administered by Merrill. Key details and features of our plan are
listed below.

Employee contributions Employer contributions

Contributions may be made on a pretax TimkenSteel matches 100% on the first More Information
or Roth after-tax basis. To make it 3% of your contribution and 50% on
easier for you to save, the plan offers the next 3%. • You can enroll in the plan
annual savings adjustments to help you and make changes to your
set aside extra money automatically. contributions at any time.
Your savings rate will increase 1% each • Merrill has many different
year until you reach 10%.
investment options for you
to choose from, along with
Vesting tools and resources you
can use to determine which
Vesting refers to your ownership of the money in your 401(k). You are options best meet your
always 100% vested in your contributions to the plan.
investment objectives.
For additional details about
the 401(k) Retirement Savings
Plan or to enroll or change
your contribution rates or
investment elections, visit
www.benefits.ml.com or call
866-339-401K.

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