Page 45 - 2021 Team Member Benefit Guide - English

401(k) www.netbenefits.com

800-835-5095

Who is Eligible? Vesting
All full-time and part-time employees who You are always 100% vested in any contributions
have completed 60 days of employment. you make to your account. You become vested
in employer matching contributions on the
When Does Participation Begin? following schedule:
Employees hired or rehired on or after 1/1/2020
are automatically enrolled at a contribution Years of Service Percent Vested
rate of 1%. Less than 1 0%
Your Contributions One year 20%
You may contribute up to 75% of your eligible Two years 40%
earnings on a pre-tax basis to the 401(k) plan,
up to the annual IRS limit ($19,500 as of this Three years 60%
writing). If you are age 50 or greater, you Four years 80%
may be eligible for an additional “catch-up”
contribution ($6,500 as of this writing). You Five or more years 100%
specify the percentage of your earnings you
want to contribute. You can change how much Receiving Money From Your Account
you are contributing at any time. Contact The plan is intended to accumulate funds for
Fidelity Investments directly to start, change or your retirement. However, you may have access
stop your contribution. to your funds while you are still employed by the
company under the following circumstances:
Company Match ; You are age 59-1/2 or greater
In addition to your pre-tax contributions, ; You become disabled (as determined by the
Builders FirstSource helps you save by making Social Security Administration)
the following matching contribution: ; You experience a financial hardship, as
40% of your pre-tax contributions up to 5% defined by the IRS Code
of your eligible compensation ; You take a loan against your 401(k) account,
as allowed under the plan document
The company does not contribute a match on
catch-up contributions. New Roth feature in 2021! In 2021, employees
may elect to treat all or a portion of your 401(k)
Investing Your Account contributions as pre-tax or after-tax under the
You direct how your account is invested. You new Roth contribution feature. Unlike traditional
choose from a variety of funds offered through pre-tax 401(k) contributions, Roth 401(k)
Fidelity, including “target date” funds to align contributions are designed to allow for tax-free
with your estimated retirement date. income in retirement with contributions made
Don’t forget to add a using after-tax dollars now. The same employer
matching contribution will apply to your Roth
beneficiary! contributions. More details will be provided near
year-end 2020.

Zach Straits, General Manager 44 44
Verona, VA