Page 14 - My FlipBook
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2016 Beneits Newsletter
Retirement
The Olshan Properties 401(k) plan Employee Contributions
offers a convenient way to save for
your future through payroll deductions. 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 percent
Eligibility of compensation. If you are 50 years of age or older, or if you will
You are eligible to participate in the reach age 50 by the end of the year, you may make an additional
catch-up contribution. Salary deferrals and catch-up contributions
plan as of the irst day of the month are subject to the IRS maximum limits. The IRS limits for 2016 are
following 90 days of employment with $18,000 and participants may contribute an additional $6,000 if age
the company. 50 or older.
The company will match 25 percent of your salary deferrals, up to
the irst 4 percent of your eligible compensation. If you contribute a
minimum of 4 percent, you will receive the full company match of 1
percent.
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 percent 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
866.695.7526.
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Retirement
The Olshan Properties 401(k) plan Employee Contributions
offers a convenient way to save for
your future through payroll deductions. 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 percent
Eligibility of compensation. If you are 50 years of age or older, or if you will
You are eligible to participate in the reach age 50 by the end of the year, you may make an additional
catch-up contribution. Salary deferrals and catch-up contributions
plan as of the irst day of the month are subject to the IRS maximum limits. The IRS limits for 2016 are
following 90 days of employment with $18,000 and participants may contribute an additional $6,000 if age
the company. 50 or older.
The company will match 25 percent of your salary deferrals, up to
the irst 4 percent of your eligible compensation. If you contribute a
minimum of 4 percent, you will receive the full company match of 1
percent.
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 percent 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
866.695.7526.
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