401k Retirement Plan
401k Plan Information
The 401k Retirement Plan is offered through Fidelity Investments
Summary Plan Description
Summary Annual Report
Want to know more about 401k; what it is, how it works?
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Enrolling in the Usui 401k Retirement Plan
If you haven’t already, enrolling in your plan is the right step towards a more secure retirement. It’s easy to join your plan and make that next great investment in yourself.
Here’s How to Enroll:
- If you have questions or need help before getting started, visit www.401k.com or call Fidelity at:
The Usui International Corporation 401k Plan has an AUTOMATIC ENROLLMENT feature. The automatic enrollment feature applies to ALL USUI INTERNATIONAL CORPORATION EMPLOYEES. IF YOU DO NOT TAKE ACTION, YOU WILL BE AUTOMATICALLY ENROLLED. You will receive a separate notification explaining when the automatic enrollment will occur.
- Activates 30 days after hire date if no other action is taken.
- Employee Contribution starts at (two) 2%.
- Employee Contribution will increase by (one) 1% every (one) 1 year until the total Employee Contribution reaches (ten) 10%.
Frequently Asked Questions
When am I eligible to enroll?
When can I enroll in the plan?
Immediate upon meeting all eligibility requirements.
our plan offers an Automatic Enrollment feature. Refer to Enrollment Information above
How much can I contribute?
1% to 75% of eligible pretax pay (IRS limit of $20,500 for 2022)
EGTRRA Catch Up Provision
Contribution Change Frequency
Beginning of Payroll Period
50% of the first 6% in eligible compensation deferred
Can I make a catch up contribution?
If you are age 50 or over by the end of the taxable year and have reached the annual IRS limit or Plan’s maximum contribution limit for the year, you may make additional salary deferral, pretax contributions to the Plan up to the IRS Catch Up Provision Limit (2022 = $6,500).
When am I vested?
Years of Service for Vesting
less than 1
Can I take a loan?
Although your plan account is intended for the future, you may take a loan from your account.
Can I take a withdrawal?
Withdrawals from the Plan are generally permitted in the event of termination of employment, retirement disability, or death.
What are the investment options?
See Investment Options.