Page 21 - iFLY Benefit Guide 01-20

Retirement Savings

Principal Financial Group | 401(k)
You are encouraged to participate in iFLY’s 401(k) Retirement Savings plan. This plan allows you to fund your
retirement with pre– and/or post-tax dollars. You may contribute up to the annual IRS maximum. If you are 50
years old or older during the plan year, you may contribute an additional catch-up deferral.

Eligibility
Team Members are automatically eligible to participate in the 401(k) Plan at age 18 and after completing 2 months
of employment.

Auto-Enrollment
Team Members will be automatically enrolled at a 3% deferral rate on the first of the month following 2 months of
employment.

Employer Match
iFLY will match 100% of the first 3% of your contribution. The match applies to both, pre-and post-tax
contributions, for a COMBINED total match of 3%. You will be fully vested in iFLY’s match after completing one year
of continuous employment.

Setting Up Your Profile
www.principal.com/nextsteps
Once you enter your personal information and your username and
password, you will have full access to all of Principal’s tools, including a
savings calculator, recommendations on how much you should save, and
what types of funds are best suited for you. You can also make changes
to your investment options and your contribution percentage at any time,
including stopping your contribution to the Plan.

401(k) IRS Maximums 2019 2020
Elective Deferral $19,000 $19,500
Catch-Up Deferral for Team Members Age 50+ $6,000 $6,500

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.

Managing Your 401(k)
Go to www.principal.com or call (800) 547-7754.

Team Member Benefits 21