401(k) Retirement Plan

YOUR CONTRIBUTIONS
Employees are eligible for participation if they are full-time and at least 21 years of age on the first day of the month following original date of hire. Employees may contribute up to a combined 100% of eligible earnings on a pretax and/or after-tax basis subject to the IRS limits:

For 2025, up to $23,500 if you are younger than age 50; if you are 50 or older you can add an extra $7,500 in “catch-up” contributions.

Starting in 2025, if you fall within the age range of 60-63 by the end of the year, you can contribute an extra $11,250 for an “enhanced catch-up” contribution. 2025 is the last year individuals earning over $145k will be able to make pre-tax catch-up contributions.

You are always 100% vested in your contributions. You are 100% vested in the company match after six years of service.

TRADITIONAL PRETAX CONTRIBUTIONS
If you elect to make pretax deferrals, your taxable income is reduced by the deferral
contributions, so you pay less in federal income taxes. Later, when the plan distributes the deferrals and earnings, you will pay the taxes on those deferrals and the earnings. Therefore, with a pretax deferral, federal income taxes on the deferral contributions and on the earnings are only postponed. Eventually, you will have to
pay taxes on these amounts.

ROTH 401(K) POST-TAX CONTRIBUTIONS
If you elect to make Roth deferrals, the deferrals are subject to federal income taxes in the year of deferral. However, the deferrals and, in certain cases, the earnings on the deferrals are not subject to federal income taxes when distributed to you. In order for the earnings to be tax free, you must meet certain conditions.

EMPLOYER MATCHING CONTRIBUTIONS
Advisors Excel also contributes to your retirement savings by offering an employer match. The match is 100% on the first 3% of employee contribution and 50% up to 8% of employee contribution. The employer match begins the first of the month following three months of employment.

EMPOWER RETIREMENT
Empower Retirement’s website provides resources and tools to help you research investment options, 401(k) plan information, educational resources and many other financial resources for free.