PR - 4.2024 Employee Benefits Guide (FINAL)

EMPLOYEE CONTRIBUTIONS You may contribute 1-90% of your annual compensation into traditional 401(k), not to exceed $22,500 per year. You also may elect to contribute into a Roth 401(k) account. CATCH-UP CONTRIBUTIONS Beginning with the 2002 calendar year, the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) provides for an optional 401(k) plan feature that allows plan members that are 50 years of age or older to contribute more than regular 401(k) limits. This allows participants roughly 10 more years to build-up their 401(k) accounts as much as possible before retirement. This additional elective deferral is called a Catch-up contribution. In order to make a catch-up contribution, you must have elected to contribute the maximum elective deferral. The amount you can contribute as a catch-up contribution is $7,500. You are considered to be age fifty (50) on the first day of the Plan Year in which are or become age fifty (50). Party Rental Ltd. will not match Catch-up Contributions. AUTO ENROLL As a fulltime employee you will be auto enrolled in the 401(k) once you become eligible; at 3%. EMPLOYER MATCH Party Rental Ltd. will make a Matching Contribution after nine (9) months of service. A discretionary match of 25 cents for every dollar you invest, up to the first four percent (4%) of your compensation, which is contributed as an elective deferral for each payroll period. Note: Any amount deferred over 4 percent (4%) will not be matched. MANAGING YOUR INVESTMENT ELECTIONS All requested changes to your investment elections via ADP 401(k) Self-Serve.

VESTING Your interest in Party Rental Ltd.’s Matching

Contribution becomes one hundred percent (100%) vested upon attainment of the Plan’s Early or Normal Retirement Ages, termination of employment because of death or permanent disability, or completion of at least five (5) Years of Service. The Early Retirement Age is attainment of age fifty-five- (55) and the Normal Retirement Age is the attainment of age sixty-five (65). ROLLOVER CONTRIBUTIONS Subject to various IRS Guidance, if you are an eligible Employee, you may, prior to satisfying the eligibility requirements, make a direct rollover contribution of all or part of the taxable or non-taxable portion of an eligible rollover distribution you receive from another employer’s retirement plan or savings plan. LOANS To take out an out a loan you as the participant must submit a request with ADP 401(k). HARDSHIP WITHDRAWALS Hardship withdrawal requests must be submitted to ADP 401(k). As per IRS guidelines, hardship withdrawals are permitted only for: Payment for the next twelve (12) months of college tuition and related educational fees, including room and board, for you, your spouse, children or dependents; Medical expenses for you, your spouse or dependents to the extent not covered by insurance; Purchase, excluding mortgage payments, of a principal residence for yourself; or Rent or mortgage payments to prevent eviction from, or foreclosure on the mortgage of, your principal residence. All documentation should be provided to Human Resources for approval. If you are granted your hardship request, you will not be able to make further Elective Deferrals and/or Voluntary After-Tax Contributions for the following six (6) months. You will be subject to premature distribution excise tax (penalties). If you have any questions on 401k, please contact ADP at 1-865-695-7526. You may also contact our Financial Advisor - For Us All - at 1-844-401-2253.

Years of Vesting Service

Percent Vested

Less than 1

0%

1 but less than 2 2 but less than 3 3 but less than 4 4 but less than 5

20% 40% 60% 80%

5 or more

100%

For addi Ɵ onal plan informa Ɵ on, please refer to your detailed plan design. In the event of a discrepancy, the carrier Plan Document shall prevail.

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