Page 35 - ABM 2021 Benefit Guide MGT
P. 35
ABM 401(K) EMPLOYEE SAVINGS PLAN
The ABM 401(k) Employee Savings Plan Investment Options
(the "401(k) Plan") ofers you an excellent Through Merrill Lynch, you have access to a
opportunity to save for your retirement by variety of investment options. If you are not
deferring a percentage of your pay on a pre-tax sure how to invest the money in your account, a
basis. Merrill Lynch representative can ofer guidance.
To see the investment options available, log in
Eligibility to beneits.ml.com.
Eligible team members can participate in
the plan on the irst of the month following Catch up Contributions
completion of 6 months of qualifying service. If you will reach age 50 in 2021 or are older
This plan is not available in Puerto Rico. than 50, you can defer additional amounts
called “Catch Up Contributions.” The catch up
If you are a rehired team member who amount is determined by* the IRS. For 2021,
previously qualiied for the ABM 401(k) the catch up amount is $6,500.
Team Member Savings Plan, you will qualify
immediately upon your rehire. Rollovers
Company Match Rollovers (i) from another tax-qualiied
retirement plan, (ii) of pre-tax contributions from
ABM will match 100% of the irst 3% and 50% a 403(b) tax-deferred arrangement, or (iii) of
of the next 2% of your eligible compensation pre-tax contributions from a government 457
that you contribute. To receive the maximum plan may be accepted by the Plan. But after-
company match of 4%, you need to contribute tax contributions are not eligible to be rolled
5% of your eligible compensation. over into the Plan. Be sure to consider the
advantages and disadvantages of a rollover
Maximum Contribution Amount before initiating one.
You may defer (contribute) up to 50% of your
eligible earnings once you are eligible for the Visit Merrill Lynch (the Plan’s record keeper and
plan, pre-tax, up to the annual IRS limit. For trustee) at beneits.ml.com or call the Merrill
2021, the limit is $19,500*. Lynch Retirement Center at 888.221.9867 Mon-
Fri from 8 a.m. - 7 p.m. ET to do the following:
Your participation can begin on the irst of the
month following completion of 6 months of Enroll
service, or the irst of any subsequent month as Change your contributions
soon as administratively practicable. Change your investment elections
Vesting Designate a beneiciary
Your contributions and match are immediately * At the time of this publication, the IRS had not released an updated
2021 limit.
vested. This means you have a non-forfeitable
right to all money in your account.
ABM 35
The ABM 401(k) Employee Savings Plan Investment Options
(the "401(k) Plan") ofers you an excellent Through Merrill Lynch, you have access to a
opportunity to save for your retirement by variety of investment options. If you are not
deferring a percentage of your pay on a pre-tax sure how to invest the money in your account, a
basis. Merrill Lynch representative can ofer guidance.
To see the investment options available, log in
Eligibility to beneits.ml.com.
Eligible team members can participate in
the plan on the irst of the month following Catch up Contributions
completion of 6 months of qualifying service. If you will reach age 50 in 2021 or are older
This plan is not available in Puerto Rico. than 50, you can defer additional amounts
called “Catch Up Contributions.” The catch up
If you are a rehired team member who amount is determined by* the IRS. For 2021,
previously qualiied for the ABM 401(k) the catch up amount is $6,500.
Team Member Savings Plan, you will qualify
immediately upon your rehire. Rollovers
Company Match Rollovers (i) from another tax-qualiied
retirement plan, (ii) of pre-tax contributions from
ABM will match 100% of the irst 3% and 50% a 403(b) tax-deferred arrangement, or (iii) of
of the next 2% of your eligible compensation pre-tax contributions from a government 457
that you contribute. To receive the maximum plan may be accepted by the Plan. But after-
company match of 4%, you need to contribute tax contributions are not eligible to be rolled
5% of your eligible compensation. over into the Plan. Be sure to consider the
advantages and disadvantages of a rollover
Maximum Contribution Amount before initiating one.
You may defer (contribute) up to 50% of your
eligible earnings once you are eligible for the Visit Merrill Lynch (the Plan’s record keeper and
plan, pre-tax, up to the annual IRS limit. For trustee) at beneits.ml.com or call the Merrill
2021, the limit is $19,500*. Lynch Retirement Center at 888.221.9867 Mon-
Fri from 8 a.m. - 7 p.m. ET to do the following:
Your participation can begin on the irst of the
month following completion of 6 months of Enroll
service, or the irst of any subsequent month as Change your contributions
soon as administratively practicable. Change your investment elections
Vesting Designate a beneiciary
Your contributions and match are immediately * At the time of this publication, the IRS had not released an updated
2021 limit.
vested. This means you have a non-forfeitable
right to all money in your account.
ABM 35
