Our 401(k) Retirement Savings Plan allows employees to save for retirement through convenient payroll deductions. Employees who are at least [18] years of age become eligible to participate in the Plan upon their date of hire. The Plan, administered by [INSERT 401K ADMINISTRATOR], is deigned with the following features:

• In 2023, you can defer up to an annual maximum of the lesser of 50% of your eligible compensation or the annual IRS deferral limit of [$22,500] for regular contributions and [$7,500] for catch up contributions (for those age 50 and over), on a pre-tax basis through payroll deduction. Or, you may choose to make a post, or after-tax (Roth) contribution.
• [ABC Company] will match [100% of the 4%] of your contributions and [50% of the next 2%] you contribute.
• Employees are immediately vested in 100% of the company match.
• New employees are automatically enrolled at [6% after 45 days from their hire date]. Employees have the option to opt-out or change this election.

• • Plan Documents
  • For more information on our 401(k), contact [VENDOR with contact info].