Page 45 - Skechers 2022 Benefits Guide

529 COLLEGE SAVINGS PLAN
Skechers allows employees to contribute after-tax contributions to a college savings plan for themselves or beneficiaries through CollegeBound 529.
CONTRIBUTIONS
You can elect to contribute a minimum of $50 per month, up to a maximum of $265,000 over the “life” of the account.
HOW TO ENROLL
• Log on to invesco.com/college-bound-529/employerplan?empl=623772
• Select ‘Enroll’
• Enter Skechers
• Select ‘Skechers USA’
WITHDRAWALS
Withdrawals may be taken at any time and for any reason. Withdrawals for “Qualified” educational purposes are currently tax-free at the federal level, while withdrawals for any other reason are currently taxable at the employee’s normal tax rate with an additional 10% penalty assessed on any accrued interest.
INVESCO 529
Phone: 877-615-4116 Mon-Fri: 8 am – 8 pm ET
STOCK PURCHASE PLAN
Skechers employees can participate in the Employee Stock Purchase Plan (ESPP), which makes Skechers Stock available at a 15% discounted rate.
Skechers Employee Stock Purchase Program is administered by Shareworks by Morgan Stanley. You can elect to purchase anywhere from 1-15% of your gross earnings (in whole percentage increments), and your payroll deductions will be withheld on an after-tax basis.
The Offering Periods run from December 1 to May 31 and from June 1 to November 30. At the end of the Offering Period, shares of the company common stock will be purchased on your behalf and placed in an account with Shareworks by Morgan Stanley. The contributions will be withheld from all of your earnings, including base compensation, overtime, commissions and bonuses, if any.
ENROLLING IN THE PLAN
You must enroll online at shareworks.com. Information can be found on The Source or SKXconnect.
SELLING YOUR SHARES
You must sell online shareworks.com. For any questions about selling ESPP shares, contact Shareworks Participant Services Group at 877-380-7793.
SHAREWORKS PARTICIPANT SERVICES GROUP
Customer Service: 877-380-7793 Website: shareworks.com
2022 BENEFITS 45