Page 12 - 2015 New Hire Guide
P. 12
New Hire
Beneits Guide
Retirement Retirement
The Olshan Properties 401(k) Plan offers a convenient way to save for
your future through payroll deductions.
Eligibility
You are eligible to participate in the plan as of the irst day of the
month following 90 days of employment with the company.
Employee Contributions
Contributions through salary deferral can be made on a pre-tax basis,
a Roth after-tax basis, or a combination of the two—up to 89% of
compensation. If you are 50 years of age or older, or if you will reach
age 50 by the end of the year, you may make an additional catch-up
contribution. Salary deferrals and catch-up contributions are subject
to the IRS maximum limits. The IRS limits for 2015 are $18,000 and
participants may contribute an additional $6,000 if age 50 or older.
The company will match 25% of your salary deferrals, up to the irst
4% of your eligible compensation. If you contribute a minimum of 4%,
you will receive the full company match of 1%.
Vesting Schedule
Vesting refers to the percentage of your account you are entitled
to receive upon distribution. Your personal contributions and any
investment earnings are always 100% vested (including rollovers from
previous employers). Employer matching contributions will be subject
to the following vesting schedule:
Years of 1 2 3 4 5 6+
Service
Vested 0% 20% 40% 60% 80% 100%
Percentage
For More Information
For additional details about the 401(k) Plan, and to enroll or change
your contribution rates or investment elections, please logon to
the ADP Retirement Services website at www.mykplan.com or call
1-866-695-7526.
12
Beneits Guide
Retirement Retirement
The Olshan Properties 401(k) Plan offers a convenient way to save for
your future through payroll deductions.
Eligibility
You are eligible to participate in the plan as of the irst day of the
month following 90 days of employment with the company.
Employee Contributions
Contributions through salary deferral can be made on a pre-tax basis,
a Roth after-tax basis, or a combination of the two—up to 89% of
compensation. If you are 50 years of age or older, or if you will reach
age 50 by the end of the year, you may make an additional catch-up
contribution. Salary deferrals and catch-up contributions are subject
to the IRS maximum limits. The IRS limits for 2015 are $18,000 and
participants may contribute an additional $6,000 if age 50 or older.
The company will match 25% of your salary deferrals, up to the irst
4% of your eligible compensation. If you contribute a minimum of 4%,
you will receive the full company match of 1%.
Vesting Schedule
Vesting refers to the percentage of your account you are entitled
to receive upon distribution. Your personal contributions and any
investment earnings are always 100% vested (including rollovers from
previous employers). Employer matching contributions will be subject
to the following vesting schedule:
Years of 1 2 3 4 5 6+
Service
Vested 0% 20% 40% 60% 80% 100%
Percentage
For More Information
For additional details about the 401(k) Plan, and to enroll or change
your contribution rates or investment elections, please logon to
the ADP Retirement Services website at www.mykplan.com or call
1-866-695-7526.
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