Financial Wellbeing

401(k) plans, employer matching, and retirement savings options - transitioning to Fidelity in 2026.

Plan Details

Detail	Value
Plan Name	ABC Catering 401(k) Plan
Provider	Fidelity (transitioning from John Hancock starting January 1, 2026)
Eligibility Wait	Eligible on day one. Auto-enrolled at 6% pre-tax if not enrolled or opted out within 35 days of hire.

Plan Name

ValueABC Catering 401(k) Plan

Provider

ValueFidelity (transitioning from John Hancock starting January 1, 2026)

Eligibility Wait

ValueEligible on day one. Auto-enrolled at 6% pre-tax if not enrolled or opted out within 35 days of hire.

Detail	Value
Match Formula	50% of employee contribution up to 6% of pay
Details	2/3 of match in cash (per payroll)1/3 in company stock (annually)
Example	$75,000 salary contributing 6% → employee contributes $4,500, company matches $2,250.

Match Formula

Value50% of employee contribution up to 6% of pay

Details

Value2/3 of match in cash (per payroll)1/3 in company stock (annually)

Example

Value$75,000 salary contributing 6% → employee contributes $4,500, company matches $2,250.

Years of Service	Vested %
Graded vesting	Less than 1 year: 0%
1–2 years	20%
2–3 years	40%
3–4 years	60%
4–5 years	80%
5+ years	100%
Employee Contributions	Employee's own contributions are always 100% vested

Graded vesting

Vested %Less than 1 year: 0%

1–2 years

Vested %20%

2–3 years

Vested %40%

3–4 years

Vested %60%

4–5 years

Vested %80%

5+ years

Vested %100%

Employee Contributions

Vested %Employee's own contributions are always 100% vested

Under age 50

Value$23,500

Ages 50-59

Value$31,000 total

Ages 60-63

Value$34,750 total (super catch-up)

Age 64+

Value$31,000 total

After max

ValueMega Roth up to $15,000 additional