401(k) Retirement Plan

To help you prepare for the future, your employer sponsors a 401(k) plan as part of your benefits package. With this plan, you may save up to $23,500 of your pay in 2025. Contributions may be made pre-tax (traditional) and/or after-tax (Roth).

Employees who turn age 50 or older in 2025 may contribute an additional catch-up contribution of $7,500 for a total of $31,000. Employees aged 60-63 in 2025 are allowed an enhanced catch-up contribution of $10,000 or 150% of the regular catch-up limit (adjusted for inflation). Starting in 2025, catch-up contributions for employees earning more than $145,000 (indexed for inflation) must be made to Roth (after-tax) rather than pre-tax.

All employees age 21 or older are eligible to participate in the 401(k) retirement plan immediately upon hire.

Company Match
In addition to your contributions, your employer will match 100% of your first 3%, then 50% of your next 2%.

Automatic Deferrals
The 401(k) plan includes an automatic enrollment feature. Under this provision of the plan, if you do not make an election, we will automatically withhold 3% of your eligible compensation from your pay each payroll period and contribute that amount to the plan on a pre-tax basis. If you want to defer an amount other than the automatic deferral, you may elect a different amount of compensation (including zero) at www.retirementaccountlogin.net/yourfutureisdaily/.

Automatic Escalation
Your deferral amount will automatically increase each year until you are contributing 10%. If you do not want your contribution to automatically increase, you may elect a different amount.

Contribution Changes
You may change your contribution any time at www.retirementaccountlogin.net/yourfutureisdaily/. Your change will be processed in the payroll system as soon as administratively feasible.

Profit Sharing
For participating plans, eligibility for discretionary profit sharing contributions is the first of the quarter after one year of service.