Page 20 - 2018 VER Benefit Guide
P. 20
Retirement Savings Plan
401(k) Plan—Fidelity Your plan has an automatic enrollment feature. If the automatic
Investments enrollment feature applies to you, and you do not take action, you will be
You are eligible to participate in automatically enrolled at 3%. If you do not want to participate, you must
the plan if: change the deferral percentage from your pay to 0%.
X You complete 3 months of If you are under age 50, the IRS contribution limit for 2018 is $18,000. If
service you are age 50 or older, or will reach age 50 during this calendar year you
X And you are not: may make an additional “catch-up” contribution up to $6,000.
Y Covered by a collective Roth 401(k)
bargaining agreement
Y A nonresident alien who The Roth 401(k) allows you to contribute after-tax dollars, but then
withdraw tax-free dollars from your account when you retire, provided
does not receive any US- the distribution is “qualiied”. A qualiied distribution is one that is taken
source earned income after the ive taxable year period beginning January 1 of the year for
from your employer which your irst designated Roth contribution to the plan is made (or
Once you satisfy these to a previous plan, if that amount was subsequently rolled over to the
requirements you will become distributing plan) AND you turn age 59½, become disabled, or die. If
a participant in the plan you are eligible to make traditional pretax 401(k) contributions, you can
immediately. also make Roth 401(k) contributions. Your total contributions to the plan
(both Roth 401(k) deferrals and traditional pre-tax contributions) cannot
To enroll in the plan, log on exceed IRS limits, or your plan’s limit, if less.
to Fidelity NetBeneits at
netbeneits.com, and click on
“Register Now.”
VER matches 25% of employee deferrals of the first
You may contribute between 1% 6% of pre-tax earnings.
and 90% of your eligible pay.
You may change your deferral
percentage as applicable. Any
changes made would take effect
the beginning of the next payroll
period.
20 2018 Benefits Enrollment
401(k) Plan—Fidelity Your plan has an automatic enrollment feature. If the automatic
Investments enrollment feature applies to you, and you do not take action, you will be
You are eligible to participate in automatically enrolled at 3%. If you do not want to participate, you must
the plan if: change the deferral percentage from your pay to 0%.
X You complete 3 months of If you are under age 50, the IRS contribution limit for 2018 is $18,000. If
service you are age 50 or older, or will reach age 50 during this calendar year you
X And you are not: may make an additional “catch-up” contribution up to $6,000.
Y Covered by a collective Roth 401(k)
bargaining agreement
Y A nonresident alien who The Roth 401(k) allows you to contribute after-tax dollars, but then
withdraw tax-free dollars from your account when you retire, provided
does not receive any US- the distribution is “qualiied”. A qualiied distribution is one that is taken
source earned income after the ive taxable year period beginning January 1 of the year for
from your employer which your irst designated Roth contribution to the plan is made (or
Once you satisfy these to a previous plan, if that amount was subsequently rolled over to the
requirements you will become distributing plan) AND you turn age 59½, become disabled, or die. If
a participant in the plan you are eligible to make traditional pretax 401(k) contributions, you can
immediately. also make Roth 401(k) contributions. Your total contributions to the plan
(both Roth 401(k) deferrals and traditional pre-tax contributions) cannot
To enroll in the plan, log on exceed IRS limits, or your plan’s limit, if less.
to Fidelity NetBeneits at
netbeneits.com, and click on
“Register Now.”
VER matches 25% of employee deferrals of the first
You may contribute between 1% 6% of pre-tax earnings.
and 90% of your eligible pay.
You may change your deferral
percentage as applicable. Any
changes made would take effect
the beginning of the next payroll
period.
20 2018 Benefits Enrollment
