Page 23 - HWS 2021 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 carrier, with multiple investment options and
a company match. Key details and features of our plan are listed below.

Benefits You Receive • Available Monday through Friday 9:00 a.m. to
7:00 p.m. EST
You may contribute 100% of your earnings on a pre-tax
basis, up to the IRS annual contribution. By saving on a • Client service representatives with online access for
pre-tax basis, you reduce the taxes you pay today and inquiries, transactions and questions
delay paying taxes on the money you save, as well as your • Review account balances and investment returns daily
account earnings until you withdraw money from the plan. • Manage their account – change contributions,
asset allocations and transfer funds
As a new hire, after 60 days of employment you are • Participant Website www.mykplan.com
automatically enrolled in the 401(k) plan at 4%. You can
change this contribution amount at any time. • Call Customer Service 800-695-7526 (mykplan)

Vesting
Vesting refers to your ownership of money in your 401(k).
You are always 100% vested in your own contributions.

If you are age 50 or older during the calendar year
and make the maximum allowable contribution to your
plan, you are entitled to make an additional “catch-up
contribution” to help make up for smaller contributions you
may have made earlier in your career.

More Information
• You can enroll in the plan and make changes
to your contributions at any time
• ADP has many different investment options
for you to choose from, along with tools and
resources you can use to determine which
options best meet your investment objectives.

For additional details about the 401(k)
Retirement Savings Plan or to enroll or change
your contribution rates or investment elections,
visit mykplan.com or call 800-695-7526.

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