To be eligible, you must be 19 years of age, and completed one month of service. 

Once eligible, you may enroll at any time. Your benefits will go into effect on the first of the month following your completed enrollment. 

You can contribute towards a traditional 401k or a Roth 401k. A traditional 401k contribution is pre-tax, reducing your taxable income, but the withdrawals are taxed. A Roth 401k contribution is post-tax, with tax-free withdrawals.

Once you have setup an account with Fidelity, you may rollover funds from another retirement plan at any time following your first day of work, provided there are no rollover restrictions from your previous plan.

Any employee enrolled in the 401K plan, who has worked a minimum of 1,000 hours within the Plan Year, is eligible. 

The discretionary match is calculated annually at the conclusion of the plan year and necessary plan testing. Eligible employees will automatically be included in any funded match.   

Although the match is discretionary, historically, the Company has matched 4% of the employee’s deferral annually.   For example, an employee earning $65,000 annually and investing the maximum 15% into his/her 401K plan will have 4%  of their deferral matched by the company. ($65,000 x 15% x 4% = $390 matched by the Company) 

Anything you contribute is always 100% vested and yours. After one year of employment, the Company typically matches a percentage towards your 401(k) Plan. However, you can keep the Company contributions only after three years of employment and a minimum of 1,000 working hours each year. 

Employees already employed for three years or more and meeting the hour requirements are considered fully vested and entitled to the Company’s contributions.