Retirement
One of the best ways to ensure a secure retirement is to start saving as early as possible. Our 401(k) savings plan allows you to save for retirement on a pretax basis. You can begin contributing to the plan at any time once you become eligible and start making contributions to your account through convenient payroll deductions.
You are eligible to contribute after you receive your first GRSM50 paycheck. The plan offers tax savings NOW through pre-tax contributions and/or tax savings AFTER you retire through a Roth after-tax option. The Plan allows qualified rollovers from prior employer plans and IRAs.
Register online at workplace.schwab.com to view your account and make your 401k election. This site provides special services such as automatic account rebalancing and personal investment assistance provided by Morningstar Investment Management LLC, an independent registered investment advisor.
Who is Eligible for the 401(k)?
All US-based employees over the age of 18 are eligible to participate in the company’s retirement savings plan.
How Do I Enroll in the 401(k)?
You can enroll in the retirement savings plan by visiting your plan provider’s website and registering with your personal information. Once registered, you’ll be able to select your contribution percentage.
Increase Your Retirement Savings with a 401(k)
- Contribute using convenient payroll deductions up to the IRS limit of $24,500 per year.
- Change the amount of your contributions or stop your payroll contributions at any time.
- Decide how to invest your 401(k) or allow the plan to choose for you.
- If you are 50 or older before the end of the calendar year, you may contribute up to 100% of your eligible compensation.
- The 401(k) contribution limit for employees age 50 or older is $32,500 per year.
- The 401(k) contribution limit for employees age 60-63 is $36,000 per year.
- You are always 100% vested in 401(k) Retirement Savings Plan contributions.