It is never too early to start preparing for retirement, so don’t wait when it comes to saving for your future. The DSB Technologies Retirement Plan, administered by Fidelity, can help you start saving money to cover your expenses during retirement.
- DSB Technologies offers a Discretionary Retirement contribution benefit – announced annually
- Employees can defer up to 60% of their eligible compensation, subject to annual IRS limits ($22,500 for 2023)
- Employees age 50 and older are eligible to make an additional catch-up contribution ($7,500 for 2023)
- Beginning 1/1/20, all employees hired in will be subject to a new 401(k) match eligibility and vesting schedule. The 401(k) match (currently .50 on every dollar up to 5%) will take effect when an employee first becomes eligible to participate in the 401k. The new vesting schedule is: 25% – 1st year, 50% – 2nd year, 100% -3rd year. All employees hired on or before January of 2020 retain their 401(k) vesting match upon hire.
- To enroll, make changes, or discuss funding options, contact Fidelity at 1-800-835-5097 or 401k.com.