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Company Match
GLG will match 100% of your voluntary contributions up to 3% of your eligible pay, to a maximum match of
$3,000. Matching contributions are always treated like a pre-tax contribution, regardless of what source you
choose for your employee deferral.
Example 1: Employee Example 2: Employee Example 3: Employee
Contributes 3% Contributes 10% Contributes 2%
W-2 Eligible Earnings $60,000 $60,000 $60,000
Employee Deferral % 3% 10% 2%
Employee Deferral $ $1,800 $6,000 $1,200
GLG Match $1,800 $1,800 $1,200
The company match is made on a per pay period basis and contributed with your employee deferral. GLG
has included a “true-up” feature to ensure all GLG employees receive the maximum eligible annual beneit.
In the event you do not receive the maximum eligible matching contribution each pay period based on timing
of your deferrals, we will make a “true-up” contribution following the end of the plan year.
Vesting
Vesting is the permanent right to the value of your Years of Service Vested Amount
account balance. Less than 1 year 0%
> You are always 100% vested in the value of all 1 but less than 2 33%
voluntary contributions you make to your account 2 but less than 3 67%
> Company Match becomes 100% vested over a 3 or more 100%
three-year period as shown in the table to the right
based on your date of hire as a full-time employee:
Frequently Asked Questions—Roth 401(k):
How do Roth 401(k) contributions differ from traditional 401(k) contributions?
With a Roth 401(k) feature, you can designate all or a portion of your future deferral contributions as “Roth
contributions.” Traditional 401(k) contributions are made on a pre-tax basis and are not included in current
taxable income. The pre-tax contributions and any earnings will be subject to income taxes when withdrawn.
In contrast, Roth 401(k) contributions are made on an after-tax basis and are included in current taxable
income. Earnings are tax free if they are part of a “qualiied distribution.” A qualiied distribution is one that is
taken at least 5 tax years from the year of your irst Roth 401(k) contribution and after you have attained age
59 1/2, become disabled or deceased.
How may Roth 401(k) contributions affect your paycheck?
You elect a percentage of your salary that you wish to contribute to the Roth source within your existing
plan, just like a traditional 401(k) contribution. However, unlike your traditional 401(k) contribution, you pay
taxes up front on the Roth contribution. Therefore, your take home pay will be less if you are making Roth
contributions than it would be if you were making traditional pre-tax contributions.
26
GLG will match 100% of your voluntary contributions up to 3% of your eligible pay, to a maximum match of
$3,000. Matching contributions are always treated like a pre-tax contribution, regardless of what source you
choose for your employee deferral.
Example 1: Employee Example 2: Employee Example 3: Employee
Contributes 3% Contributes 10% Contributes 2%
W-2 Eligible Earnings $60,000 $60,000 $60,000
Employee Deferral % 3% 10% 2%
Employee Deferral $ $1,800 $6,000 $1,200
GLG Match $1,800 $1,800 $1,200
The company match is made on a per pay period basis and contributed with your employee deferral. GLG
has included a “true-up” feature to ensure all GLG employees receive the maximum eligible annual beneit.
In the event you do not receive the maximum eligible matching contribution each pay period based on timing
of your deferrals, we will make a “true-up” contribution following the end of the plan year.
Vesting
Vesting is the permanent right to the value of your Years of Service Vested Amount
account balance. Less than 1 year 0%
> You are always 100% vested in the value of all 1 but less than 2 33%
voluntary contributions you make to your account 2 but less than 3 67%
> Company Match becomes 100% vested over a 3 or more 100%
three-year period as shown in the table to the right
based on your date of hire as a full-time employee:
Frequently Asked Questions—Roth 401(k):
How do Roth 401(k) contributions differ from traditional 401(k) contributions?
With a Roth 401(k) feature, you can designate all or a portion of your future deferral contributions as “Roth
contributions.” Traditional 401(k) contributions are made on a pre-tax basis and are not included in current
taxable income. The pre-tax contributions and any earnings will be subject to income taxes when withdrawn.
In contrast, Roth 401(k) contributions are made on an after-tax basis and are included in current taxable
income. Earnings are tax free if they are part of a “qualiied distribution.” A qualiied distribution is one that is
taken at least 5 tax years from the year of your irst Roth 401(k) contribution and after you have attained age
59 1/2, become disabled or deceased.
How may Roth 401(k) contributions affect your paycheck?
You elect a percentage of your salary that you wish to contribute to the Roth source within your existing
plan, just like a traditional 401(k) contribution. However, unlike your traditional 401(k) contribution, you pay
taxes up front on the Roth contribution. Therefore, your take home pay will be less if you are making Roth
contributions than it would be if you were making traditional pre-tax contributions.
26
