Page 24 - 2019 Benefit Guide Non-CA

401(K) SAVINGS PLAN

Building a healthy financial future is just as important as taking care of your health needs
today. Putting money aside for your future is easy with the 401(k) Plan. Employees are
eligible to enroll in the 401k after 60 days of continuous employment with quarterly entry into
the plan.

Plan Features
» Defer up to $18,500* of your pay in 2019 on a pre-tax basis (or post-tax Roth) through convenient payroll
deductions. If you are age 50 or older you are eligible to contribute an additional $6,500 for 2019 as a “catch
up” contribution.
» Reduce the amount of your current taxable income by the amount you contribute on a pre-tax basis. You
don’t pay federal, and in most cases, state income taxes on any investment earnings as long as they remain
in the plan.
» Choose how to invest your contributions through the plan’s multiple investment options.
» AAG offers a discretionary match of 50% on the first 6% of your salary deferrals.

Vesting
You are always 100% vested in your contributions as well as any amounts you roll over to the plan. Your
employer match however, is vested according to the schedule below.

SCHEDULE
Year 2 25%
Year 3 50%
Year 4 75%
5 Years or More 100%

EMPLOYEE
VESTING AAG CONTRIBUTIONS TOTAL VESTED VALUE
CONTRIBUTIONS
Year 1 0% $3,000 $1,500 $3,000
Year 2 25% $6,000 $3,000 $6,750
Year 3 50% $9,000 $4,500 $11,250
Year 4 75% $12,000 $6,000 $16,500
Year 5 100% $15,000 $7,500 $22,500
*Amount could increase without notice and will be communicated separately.

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