Page 2 - GBS Comms NY Metro - Generic 401(k) Digi Fly

Why Leave
On The
Table?
Contribute at least 6% in order to receive the full company match.
Simplified and Improved
ABC Company is making it easier to save and invest for retirement. The following provides a summary of our 401(k) Retirement and Savings Plan, effective January 1, 2019.
Company Match
When you contribute pre-tax, Roth or a combination of both dollars from your eligible compensation, ABC Company will match 100% up to 6%.
Vesting
Vesting is a term used to determine how much of your 401(k) funds you can take with you.
All employees will be 100% vested as of January 1, 2019.
Additional Company Contributions
Good news! ABC Company makes an additional contribution* to your 401(k) account which has increased by 0.5%. This contribution is funded in the first quarter following the close of the plan year (Dec. 31st).
This means you have an opportunity to receive a 6% match, plus an additional company contribution on eligible compensation, based on the chart below.
* This contribution is made regardless of your participation in the Plan. ** Points represent age plus full years of service.
All Employees are Eligible
Full and part time employees are eligible to participate in the 401(k) Plan. You may contribute up to 60% in pre-tax, Roth or a combination of both dollars.
Automatic Enrollment for New Hires
All newly hired employees will be automatically enrolled at a 6% deferral. By deferring 6% you will benefit from the full company match. You will have 30 days to opt out, increase, or decrease your deferral percentage — hint ... we recommend increasing.
Points**
<35
35-44
45-54
55-64
65+
% Company Contribution
0.5
1.5
2.5
3.5
4.5
2