Page 23 - 2016 Enrollment
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401(k) Savings Plan
A consistent savings plan throughout your career is the foundation for Get Started
security during your retirement years. Nortek’s 401(k) Plan is designed As part of your Workday
to help you reach your investment goals. All Employees are eligible to Onboarding, you will receive a
participate in the Plan immediately upon hire. separate task in your Workday
The Plan allows you to contribute toward your own inancial security Inbox to enroll in the 401(k)
on a tax-favored basis. You participate in the Plan by making individual Savings Plan, or you can follow the
contributions. Money that you elect to have deducted from your paycheck steps below.
and put into the 401(k) account is invested on a tax-deferred basis until Login to
distributed. www.workplace.schwab.com
You may contribute up to 30 percent of your salary on a before-tax Default ID: Social Security
basis, subject to the annual dollar limits. For 2016, the limit is $18,000. In Number (no dashes)
addition, employees over age 50 can also make a “catch-up contribution” Temporary password: four-digit
of up to $6,000 above and beyond the maximum amount for a total month and day of birth (ex:
pre-tax contribution of $24,000 for 2016. You may elect at any time 1130 for November 30)
during the Plan year to make or change your pre-tax deferral contribution More details are available
amount. You can elect to stop your pre-tax deferral contribution through the Employee Portal,
completely at any time. If you do not afirmatively elect to enroll, you HR Connect, or Charles
will be automatically enrolled in the Plan starting with your irst paycheck Schwab
following 45 days of employment.
Your pre-tax deferral contributions (including automatic enrollment) are
eligible for discretionary matching contributions by Nortek. The current
match is 50 percent up to 6 percent of your compensation.
You are always 100 percent vested in your contributions. However,
Nortek’s contribution toward your 401(k) is subject to a vesting schedule
based on your years of service to the company.
2016 New Hire Enrollment
401(k) Savings Plan
A consistent savings plan throughout your career is the foundation for Get Started
security during your retirement years. Nortek’s 401(k) Plan is designed As part of your Workday
to help you reach your investment goals. All Employees are eligible to Onboarding, you will receive a
participate in the Plan immediately upon hire. separate task in your Workday
The Plan allows you to contribute toward your own inancial security Inbox to enroll in the 401(k)
on a tax-favored basis. You participate in the Plan by making individual Savings Plan, or you can follow the
contributions. Money that you elect to have deducted from your paycheck steps below.
and put into the 401(k) account is invested on a tax-deferred basis until Login to
distributed. www.workplace.schwab.com
You may contribute up to 30 percent of your salary on a before-tax Default ID: Social Security
basis, subject to the annual dollar limits. For 2016, the limit is $18,000. In Number (no dashes)
addition, employees over age 50 can also make a “catch-up contribution” Temporary password: four-digit
of up to $6,000 above and beyond the maximum amount for a total month and day of birth (ex:
pre-tax contribution of $24,000 for 2016. You may elect at any time 1130 for November 30)
during the Plan year to make or change your pre-tax deferral contribution More details are available
amount. You can elect to stop your pre-tax deferral contribution through the Employee Portal,
completely at any time. If you do not afirmatively elect to enroll, you HR Connect, or Charles
will be automatically enrolled in the Plan starting with your irst paycheck Schwab
following 45 days of employment.
Your pre-tax deferral contributions (including automatic enrollment) are
eligible for discretionary matching contributions by Nortek. The current
match is 50 percent up to 6 percent of your compensation.
You are always 100 percent vested in your contributions. However,
Nortek’s contribution toward your 401(k) is subject to a vesting schedule
based on your years of service to the company.
2016 New Hire Enrollment
