Page 19 - 2022 US Benefits Guide FINAL

` 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, you are
offered a 401(k) Retirement Savings Plan, administered by Empower Retirement, with multiple
investment options and a company match. Key details and features of our plan are listed below.

Employee contributions Applied contributions
More Information
You can contribute up to $20,500 Applied will match up to 30% on
in 2022, and if you are age 50 or the first 10% of your 401(k)  You can enroll in the plan
older, you may contribute up to contributions, up to 3% of your and make changes to your
an additional $6,500 as a “catch- annual earnings. contributions at any time
up” contribution.
The match is contributed annually  Empower Retirement has
many different investment
th
Contributions may be made on a - January 15 of the following options for you to choose
pretax or Roth after-tax basis. year. from, along with tools and
resources you can use to
You must have worked 1,000 determine which options
hours and be employed with best meet your investment
Applied on the last day of the objectives.
year to be eligible for the match.
For additional details about
the 401(k) Retirement
Vesting Savings Plan or to enroll or
Vesting refers to your ownership of the money in your 401(k). You change your contribution
are 100% vested in your contributions to the plan). You will be 100% rates or investment
vested in the company match after three years of service. You are elections, log into
always 100% vested in your contributions to the plan. www.retiresmart.com
Click here to watch a short video with more information on our
401(k) plan.

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