Page 26 - Skyline Windows | 2022 Benefits Guide

Retirement Benefits
Administered by ADP
There are many components to a financially secure retirement. To assist you in reaching your goals, Skyline Windows offers their non-union employees a 401(k) Retirement Plan (the “Plan”) using ADP.
The Plan allows employees to defer a portion of their salary, up to 80% of compensation, on a tax advantaged basis (both Pre-tax and ROTH options are available). The company makes a discretionary matching contribution, currently $0.40 per $1 on the first 5% of compensation that is deferred (for a maximum 2% match).
Employees can select and manage their investment in the Plan via the ADP participant website, www.mykplan.com, or by calling the ADP Participant Service Center at 866-269-8268.
Employees over age 18 can begin contributing to the Plan on the first day of the calendar quarter following completion of 2 months of service with Skyline Windows. Eligible employees are automatically enrolled in the MetLife Stable Value Fund at a pre-tax contribution rate of 3%. Employees may choose a different contribution rate or investment options at any time after they are eligible for the Plan. They are eligible to receive match contributions as soon as they begin contributing to
the plan.
Salary deferral contributions are immediately 100% vested. Company match contributions are vested according to the following schedule, and are fully vested after 6 years of service.
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2022 BENEFITS GUIDE YOUR WINDOW OF OPPORTUNITY