Page 20 - NH NC Guide
P. 20
401(k)
401(k) Savings Plan
Mitchell Gold + Bob Williams offers a 401(k) retirement plan which is administered
by Wells Fargo. The 401(k) savings plan allows you to contribute towards your own
inancial security on a tax-favored basis. Saving now will help ensure that you have
enough money to live comfortably in retirement. Therefore, Mitchell Gold + Bob
Williams have implemented a new enrollment process for all employees hired on
or after January 1, 2016. You will be automatically enrolled in the 401(k) plan at a
contribution level equal to three percent of your earnings. The company will match
50 cents of every dollar you contribute up to four percent of your earnings. To make
sure you maximize your savings, we will automatically increase your contribution
level 0.5 percent annually until you reach the four percent contribution level. You will
become fully vested in the company contributions over a four year period.
If you want to opt out of this enrollment or change your contribution level, you may
sign on to www.wellsfargo.com or call 800.728.3123.
Please note that the maximum annual contribution established by the IRS for 2016
is $18,500. If you are or will be turning 50 years old during 2016, you are eligible to
make catch-up contributions over and above the normal maximum amount. The
catch-up limit for 2016 is $6,500.
20
New Hire Guide
401(k) Savings Plan
Mitchell Gold + Bob Williams offers a 401(k) retirement plan which is administered
by Wells Fargo. The 401(k) savings plan allows you to contribute towards your own
inancial security on a tax-favored basis. Saving now will help ensure that you have
enough money to live comfortably in retirement. Therefore, Mitchell Gold + Bob
Williams have implemented a new enrollment process for all employees hired on
or after January 1, 2016. You will be automatically enrolled in the 401(k) plan at a
contribution level equal to three percent of your earnings. The company will match
50 cents of every dollar you contribute up to four percent of your earnings. To make
sure you maximize your savings, we will automatically increase your contribution
level 0.5 percent annually until you reach the four percent contribution level. You will
become fully vested in the company contributions over a four year period.
If you want to opt out of this enrollment or change your contribution level, you may
sign on to www.wellsfargo.com or call 800.728.3123.
Please note that the maximum annual contribution established by the IRS for 2016
is $18,500. If you are or will be turning 50 years old during 2016, you are eligible to
make catch-up contributions over and above the normal maximum amount. The
catch-up limit for 2016 is $6,500.
20
New Hire Guide
