Page 25 - HM Benefits Guide 2019 National

Retirement Savings

Fidelity | 401(k)
It’s never too early or too late to start investing in your future. Happy Money wants to help you lay the
foundation for your financial future. Our 401(k) plan allows you to fund your retirement with pre-tax or
post-tax dollars. You can defer up to 100% of your annual salary to IRS benefit maximums. If you are 50
years old or older during the plan year, you may contribute a catch-up deferral.

401(k) IRS Maximums 2019 2020
Employee Deferral $19,000 Indexed for Inflation
Catch-up Deferral (Age 50+) $6,000 Indexed for Inflation

Eligibility
You are eligible for the company’s 401(k) plan on the first day of the month following your date of hire.

Plan Options
You have the choice between investing in a Traditional (pre-tax) 401(k) and a Roth (post-tax) 401(k).
• Traditional: When you contribute pre-tax dollars, you are allowing your assets to grow tax-deferred,
meaning you will not have to pay taxes on the investment activity in the account, but you will be
responsible for the taxes when you withdraw.
• Roth: When you contribute to these accounts, you won’t receive a tax break, but all growth and
qualified future withdrawals are tax-free.

Introducing Happy Matching!
Happy Money will match 50% of employee contributions up to 6% per paycheck with a maximum Happy
Money contribution of $3,000 annually.
Vesting
You are immediately vested in your contributions as well as Happy Money’s contributions.

Managing Your 401(K)
Go to www.netbenefits.com or call (800) 835-5097.

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