Page 26 - sample2

401(k) Retirement Plan
The 401(k) Retirement Plan provides eligible employees the ability to contribute up to 100% of their pay to the plan (not to exceed the 2021 IRS limitation of $19,500; catch up contribution up to $6,500). Seventh Sense provides employer contributions up to the first 5% of the employee’s salary as follows:
100% of the first 3% of the employee’s salary and 50% for the next 2% of the employee’s salary, for a maximum contribution of 4% of the employee’s salary.
You are eligible to begin contributing to the 401(k) plan upon enrollment and are fully vested on day 1.
Employee Company Contribution Contribution
1% 1% 2% 2% 3% 3%
4% 5%
3.50% 4.00%
© 2021 Seventh Sense Consulting. | Confidential - Not for disclosure Slide 22