Page 125 - 2021 Miami Marlins Front Office Benefits Guide

5-34569 / Marlins Teamco LLC 401(k) Plan

Plan Summary Principal Life Insurance Company
Des Moines, IA 50306-9394

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Am I eligible for Marlins Teamco LLC 401(k) Plan?

You are eligible to join the plan unless you are an employee who is:

• a nonresident alien
• represented by a bargaining unit that has bargained with us in good faith on the subject of retirement benefits
• employed at the following location(s) or division(s): by the employer who is a Resident of Puerto Rico
• employed in the following position(s) or classification(s): Minor League Players; Game Day Employees; Licensed
Health Care Professionals
•
Part-time, temporary, or seasonal employee (regularly scheduled to work <1,000 hours) based on entry service
period of: anniversary of their hire date.

If you meet the above requirements, you are eligible to join the plan if you:

• are at least age 21
You enter the plan on any date on or after you meet the eligibility requirements.

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From where do my contributions come from?

Contributions in general are from total pay from Marlins Teamco LLC including salary deferral contributions.

Your benefits representative can provide more detailed information.
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Are there limits to my contributions?

The retirement plan includes an automatic contribution arrangement. Please refer to the notice provided to you
by your plan sponsor for details.

You may choose to contribute up to 100% of your total pay.

Your taxable income is reduced by the amount you contribute pre-tax through salary deferral. This lets you
reduce your taxable income.
Your maximum contribution percentage and/or dollar amount may also be limited by Internal Revenue Service
regulations. Current employee contribution limits may be found by searching for 401(k) contribution limits on the
Internal Revenue Service’s website at www.irs.gov.

If you are 50 years old or older during the plan year and you have met the annual IRS deferral limit (or the
specified plan limit for deferrals), you may contribute a catch-up deferral. If you qualify and are interested in
making catch-up contributions, the current limit may be found on the Internal Revenue Service’s website at
www.irs.gov.

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