401(k) Retirement Plan

Preparing for the future is an important part of financial planning. isolved sponsors a 401(k) Plan through Fidelity to help you build your nest egg through a variety of investments. It’s never too early—or too late—to start saving.

Eligibility

You are eligible to participate in the 401(k) plan any time after the first of the month following your date of hire if you are at least 21 years of age. When you enroll, you may designate beneficiaries and allocate your asset distribution at any time throughout the year. You do not need to wait for open enrollment to make changes.

401(k) Contributions

When you become eligible to participate, you will be auto-enrolled at 6% of your pay deducted from your paycheck on a pre-tax basis, unless you elect otherwise. On an annual basis, your Elective Deferral will be increased by 1% by the company unless you opt out of the automatic escalation. You also have the option to contribute on a post-tax basis to a Roth 401(k) Plan. You are always 100% vested in your salary deferrals.

You can contribute up to the annual IRS maximum of $23,000 in 2024 in pre-tax payroll deductions. Employees age 50 or over may also contribute an additional $7,500 catch-up contribution. You may also roll over funds from other qualified retirement plans into the isolved 401(k) Plan.

The company will match your contributions at 50% of the first 6% you contribute. Personal contributions are pre-tax and added to your account through convenient payroll deductions. Your isolved match will be contributed each pay period and is subject to the company’s vesting schedule:

• • 1 year of service: 25%
  • 2 years of service: 50%
  • 3+ years of service: 100%

Get involved in your investment strategy by selecting options that make sense for your age and risk tolerance. Do that and more at fidelity.com.

Helpful Tips on Saving for Retirement

• • Start saving as soon as possible to grow your retirement account.
  • Begin with small contributions, if necessary, and increase contributions over time.
  • Make setting aside money for retirement a habit.
  • Understand investment returns may fluctuate.
  • Let it sit. Avoid penalties by leaving funds in your 401(k) until retirement.
  • If you change jobs, you can roll over your retirement account.