Preparing for retirement is a top priority of smart financial planning. Excelligence sponsors a 401(k) Plan through Fidelity to help you start saving now. Fidelity offers a variety of investment options to grow your earnings.
Market ups and downs can be unsettling, leaving many investors wondering how to navigate uncertainty. Recent shifts in economic conditions, interest rates, and global events have contributed to ongoing market volatility, making it more important than ever to stay informed and proactive.
To provide clarity and context, our investment team has prepared a special video featuring Scott Duba, Chief Investment Officer, Clayton Allison, Portfolio Manager, and Will McGough, Deputy Chief Investment Officer. In this discussion, they break down the current volatility, what’s driving it, and how investors can stay prepared.
A 401(k) plan is a retirement savings program established by an employer to which employees may contribute on a pre-tax basis, Roth after-tax basis or a combination of both. When you contribute to a 401(k) plan, you decide how much you want to contribute into your account. Your contributions can grow to become a significant part of your future retirement income.
Contributing to a 401(k) plan is an easy way to save; your contributions are deducted from your paycheck each pay period and invested in the funds you select in the Plan. This means you will be paying less in taxes than you would if you did not participate in the Plan. You may elect to save a different amount, including a zero deferral, at anytime. Your contributions will be invested in the Plan’s default investment option, a balanced fund, if you do not make your own investment election. Another benefit to participating in the Plan is the matching contribution made at the discretion of the Company.
| 401(k) Information | |
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Overview |
You can contribute up to 60% of your eligible earnings, up to the IRS annual contribution limit:
If you are age 50 or older, you can make additional catch-up contributions up to the IRS annual contribution limit of $7,500. |
| Eligibility |
You are eligible to participate in the 401(k) plan on the first day of the month following your hire date if you are an “employee”.
*Please note, that start-up and deferral changes may take up to 30 days to take effect. Existing employees may enroll at any time and deferral changes may be made on a quarterly basis. You may designate beneficiaries and allocate your asset distribution at any time. Personal contributions are added to your account conveniently through payroll deductions. |
| Vesting |
You are immediately vested in your contributions, the company’s matching contributions, and your investment earnings. This means that 100% of the funds in your account are yours when you leave the company, regardless of your years of service. Save for Retirement Like A Pro
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| Loans | Participant loans are allowed in accordance with Article 9 of the Basic Plan Document. Except as otherwise provided below, if a Participant has an outstanding loan balance at the time his employment terminates, the entire outstanding principal and accrued interest shall be due and payable by the end of the cure period specified in the separate loan procedures. Notwithstanding the foregoing, if a Participant with an outstanding loan balance terminates employment with the Employer and all Related Employers in conjunction with a transfer of Employees and Employer assets to an entity unrelated to the Employer, such Participant may elect, within 90 days of such termination, to roll over the outstanding loan to an eligible retirement plan, as defined in Section 13.04 of the Basic Plan Document, that accepts such rollovers. |
