Page 13 - 2022 MLB Umpire Benefit Guide Flipbook 1

Third: Retirement

401(k) Savings Plan

You may join the Major League Baseball 401(k) Plan and save pre-tax or post-tax dollars through automatic payroll
deductions. Your 401(k) account grows with the combination of tax-sheltered contributions and tax-deferred earnings.
Here are some of the plan features:

• You may contribute from 1% to 100% of your annual salary, up to the annual IRS maximums for the year .
• If you are age 50 or older, you may also elect to make additional “catch-up” contributions to your account.
• You invest your savings among a number of mutual funds administered by Fidelity Investments, including the
JP Morgan SmartRetirement Funds. You also have access to hundreds of other investment options through
Fidelity’ Investments BrokerageLink.
• Low interest loans are available; you pay the interest back to your account. (You may take only one loan at a
time.)
• You are always 100% vested in any money that you contribute to the 401(k) Plan.

Umpire Defined Contribution Plan

If you became a Major League Baseball Umpire on or after January 1, 2015, Baseball will make annual contributions
to the defined contribution plan on your behalf in accordance with the terms of the Collective Bargaining Agreement in
effect at that time. Your defined contribution account grows with the combination of tax-sheltered contributions and
tax-deferred earnings. Here are some of the plan features:

• You can invest your money among a number of mutual funds administered by Fidelity Investments, including
the JP Morgan SmartRetirement Funds. You also have access to hundreds of other investment options
through Fidelity’ Investments BrokerageLink.
• You are always 100% vested in your defined contribution plan account balance.

Click here to go to the Fidelity homepage

Page | 13