401(k) Retirement Plan

Eligibility for the 401(k) Plan
•  19 years old
•  6 months of service
•  You may enter the plan semi-annually after completing six months of service [January 1 and July 1]
•  You may enroll into the plan online at https://participant.empower-retirement.com/participant/#/login. Select
Register and enter in PIN 502458-01.

Employee Contribution
•  Contributions may come out of your pay on a pre-tax or Roth (post-tax) basis.
•  Automatic Enrollment and Auto-Escalate: Unless you make another election, you will enroll at a 4% Roth contribution upon reaching eligibility. Your contribution will increase 1% each year up to 6% until you make an election.
•  You may contribute up to $23,500 per year.
° For those 50 and over, you are allowed an additional $7,500 of catch-up contribution.
° For those 60-63, you are allowed an additional $11,250 of catch-up contribution.
•  You may change your contribution at any time.

Company Contribution and Vesting
A match begins upon starting your personal contribution to the 401(k).
Match
•  MIDWEST DRYWALL provides a Safe Harbor match of 100% up to 4% of your contribution.
° Maximum employer match: 4% contribution = 4% employer match.
Vesting
•  MIDWEST DRYWALL company match is subject to a 2-year cliff vest (0%, 100%).

Employee and Company Contribution
The chart below reflects your approximate contribution based on your wage, elected percentage, and associated company match.
Assumes 40 hours per week with weekly pay periods (52/yr)

Plan Highlights
Online Access: https://participant.empower-retirement.com/participant/#/login
Click Register –  Enter personal info to set up username and password. Plan ID: 502458-01.
•  Rollover Opportunities
You are eligible to combine retirement funds you have outside of this plan.
•  Hardship Distributions and Account Loan
Permitted under specified plan guidelines.
•  Saver’s Credit – Tax Credits for Retirements Contributions
Available based on income (ex: single filer making less than $39,500 or joint filers making less than $79,000)

What is a Mutual Fund?
•  Investment fund that pools money from many investors to purchase securities [stocks and bonds].
•  This type of fund is a way to invest in the stock or bond market without buying individual stocks or bonds.
•  There is a core fund lineup of different mutual funds available in the retirement plan. Consult with a financial advisor if you would like to learn more about a specific strategy or asset class.

What is a Target Date Fund (TDF)?
•  A TDF is a mutual fund that is invested based on your age and retirement time horizon.
•  As you get closer to retirement, the fund automatically gets more conservative.
•  If you do not make an investment election, you will default into the age appropriate TDF.

Plan Advisor
Converse Team Financial Services
converseteam@keatinginc.com
3500 N Rock Road, Building 200
Wichita, KS 67226
Phone: 316-315-0617
www.theconverseteam.com