Page 18 - Dentons 2021 Benefits Guide Hawaii
P. 18
RETIREMENT SAVINGS PLAN
401(k) Plan Profit Sharing Plan
The Firm wants everyone to look forward to an On January 1, April 1, July 1, or October 1
active, healthy, and financially stable retirement. following the completion of one full year of
Partners, Principals, Counsel, Non-Partner service from date of hire, full-time non-lawyer
Lawyers, Professionals, and Staff are eligible to and non-professional employees will be
participate in the plan starting on the first day automatically entered into the Firm funded
of the third month after your first day of work profit sharing plan. Employees are eligible
at the Firm. to receive contributions to their account
after December 31, as long as the person is
Counsel, Professionals, Non-Partner Lawyers, an employee of Dentons on December 31.
and Staff who are eligible to save in the plan Contributions are determined each year by the
will be automatically enrolled in the plan with Firm and are discretionary.
a 3% deferral election unless and until you
actively elect not to participate (“opt out”). This Partners will become participants in the Keogh
means that 3% of your eligible compensation Plan (Profit Sharing) on the January 1, April 1,
will be deducted from your paycheck on a July 1 or October 1 following the completion
pre-tax basis and contributed to your account. of one full year of service from date of hire.
Contributions will be invested in the T. Rowe Once in the plan, Partners who satisfy specific
Price Target Retirement Fund, based on your Partnership points requirements will make
date of birth and an estimated retirement age annual mandatory contributions to the Profit
of 65. Partners and Principals are not auto- Sharing plan. The amount of the contribution
enrolled. will be calculated using annual earnings and are
capped at a federally established maximum.
While your enrollment will be automatic,
you will have an opportunity to change your
contribution rate, direct contributions to other
investment options available through the plan
or decline participation in the plan before you
are auto-enrolled in the plan. You will also
be able to make these changes at any time
after you are auto-enrolled, but such changes
will only apply to future contributions. All
contribution and investment changes are made
directly through workplace.schwab.com.
18
401(k) Plan Profit Sharing Plan
The Firm wants everyone to look forward to an On January 1, April 1, July 1, or October 1
active, healthy, and financially stable retirement. following the completion of one full year of
Partners, Principals, Counsel, Non-Partner service from date of hire, full-time non-lawyer
Lawyers, Professionals, and Staff are eligible to and non-professional employees will be
participate in the plan starting on the first day automatically entered into the Firm funded
of the third month after your first day of work profit sharing plan. Employees are eligible
at the Firm. to receive contributions to their account
after December 31, as long as the person is
Counsel, Professionals, Non-Partner Lawyers, an employee of Dentons on December 31.
and Staff who are eligible to save in the plan Contributions are determined each year by the
will be automatically enrolled in the plan with Firm and are discretionary.
a 3% deferral election unless and until you
actively elect not to participate (“opt out”). This Partners will become participants in the Keogh
means that 3% of your eligible compensation Plan (Profit Sharing) on the January 1, April 1,
will be deducted from your paycheck on a July 1 or October 1 following the completion
pre-tax basis and contributed to your account. of one full year of service from date of hire.
Contributions will be invested in the T. Rowe Once in the plan, Partners who satisfy specific
Price Target Retirement Fund, based on your Partnership points requirements will make
date of birth and an estimated retirement age annual mandatory contributions to the Profit
of 65. Partners and Principals are not auto- Sharing plan. The amount of the contribution
enrolled. will be calculated using annual earnings and are
capped at a federally established maximum.
While your enrollment will be automatic,
you will have an opportunity to change your
contribution rate, direct contributions to other
investment options available through the plan
or decline participation in the plan before you
are auto-enrolled in the plan. You will also
be able to make these changes at any time
after you are auto-enrolled, but such changes
will only apply to future contributions. All
contribution and investment changes are made
directly through workplace.schwab.com.
18
