Page 20 - Lucas Sample Guide
P. 20
Vanguard | 401(k)
You are encouraged to participate in Lucas Museum’s 401(k) plan. This plan allows you to fund your retirement with pre-tax
dollars. You can defer up to 75% of your annual salary to the 2019 IRS benefit maximum. If you are 50 years old or older during the
plan year, you may contribute a catch-up deferral.
Eligibility
You are eligible for the company’s 401(k) plan on the first day of the month following the completion of 1 month of employment.
Auto-Enrollment
Upon eligibility, you will be automatically enrolled at 5% (pre-tax) salary contribution unless you elect otherwise. This plan consists
of 12 funds with varying target dates and investment objectives.
Matching
Lucas Museum will match up to a discretionary amount. Add additional details here.
401(k) IRS Maximums 2019 2020
Elective Deferral $19,000 Indexed for
Catch-Up Deferral (Age 50+) $6,000 Inflation
It’s never too early or too late to start investing in your future. Even if you’re in your 40s
or 50s, there’s still time to build a significant nest egg for retirement.
