Are you investing in your future by contributing to your 401(k) today? A 401(k) is a tax-advantaged employer savings plan (“The Plan”) where you contribute a weekly percentage of your paycheck.
Your 401(k) plan can help build your retirement savings in two ways:
- Your Contributions: You put money aside directly from your own paycheck.
- Employer Match (ER): UCOR will provide a matching contribution of $0.50 cents per $1.00 up to eight percent of your eligible wages. In whole dollars, this equates to a company match of four percent.
To maximize your tax strategy, the IRS allows you to contribute by selecting one or a combination of Pre-tax, After-tax, and/or Roth accounts through the plan. Retirement can seem far away, but that day will get here faster than you realize. Setting aside even one percent of your income now will make you better prepared when that day arrives.
UCOR Retirement Savings Plan Maximum Matching Contributions
- Non-Grandfathered Salary: Up to 8% of eligible wages a maximum 4% ER match
- Grandfathered Salary: Up to 6% of eligible wages with a maximum 3% ER match
- ATLC Non-Grandfathered: Up to 8% of eligible wages with a maximum 4% ER match
- ATLC Grandfathered: Up to 6% of eligible wages with a maximum 3% ER match
The Plan offers you a range of options to select from to meet your goals, time horizon, and risk tolerance. The many investment options available through the Plan include:
- Conservative funds
- Moderately conservative funds
- Aggressive funds
For Additional Information
Visit the Benefits page on UCOR HUB and scroll down to the Retirement Information Section and choose 401(k) Quick References.
Note: Changes made to your 401(k) deductions normally require 2 weeks to process, so please ensure you are regularly reviewing your pay statement.
For more information call Fidelity at 1-800-835-5095 or log onto netbenefits.com.
