401(k) Savings Plan

Overview

WinnCompanies is committed to supporting your financial well-being — today and tomorrow. The WinnCompanies 401(k) Savings Plan with Fidelity helps you prepare for retirement by offering an easy, tax-advantaged way to save for your future financial needs.

Automatic Enrollment

You are automatically enrolled at a contribution rate of 4% after one month of employment if no action is taken on your part. You may change your contributions or opt out at any time by contacting Fidelity at 1-800-835-5097 or logging in to your Fidelity NetBenefits® account online.

Key Advantages

Receive a company match of 50% of your contributions, up to 3% of your earnings.
Become immediately 100% vested in all contributions from you and the company.
Enjoy current tax savings and tax-deferred investment growth on pre-tax contributions.
Take tax-free distributions on Roth post-tax contributions, if you meet certain criteria.
Choose from a wide range of investment options.
Easily save for your future through convenient payroll deductions.

Manage Your Account

Fidelity NetBenefits® is your one-stop online resource, designed so you can quickly and easily set up, monitor, and manage your retirement account.

Go to the Fidelity NetBenefits website.
Click the Register link.
Follow the instructions to set up your username and password.

Already established a username and password with Fidelity?

Have you used Fidelity NetBenefits at a previous employer?
Do you have a brokerage account with Fidelity (or an IRA, mutual funds, or a college savings plan)?

If so, you can use the same login information (username and password) from those accounts to access Fidelity NetBenefits. If you have forgotten your login information, click the Login Help link.

Visit the Fidelity NetBenefits website to conveniently manage your plan account:

Check your balance.
Change your contribution rate.
Manage your investments.
Update your beneficiary.
Use planning tools and calculators.
Access forms and documents.

Your Contributions

You may contribute between 1% and 70% of your eligible pay to your plan account, up to annual IRS limits. In 2023, the IRS limits allow you to contribute up to:

$22,500 if you are under age 50
$30,000 if you’re age 50 or older this year (which includes an additional $7,500 in catch-up contributions)

These limits include your pre-tax contributions, Roth post-tax contributions, or a combination of both. What’s the difference between pre-tax and Roth post-tax contributions?

Pre-tax vs. Roth post-tax contributions

The WinnCompanies 401(k) plan gives you the flexibility to save for retirement in a variety of ways. You can make pre-tax contributions, Roth post-tax contributions, or a combination of both.

Pre-Tax Contributions	Roth Post-Tax Contributions
The money goes into your plan account before taxes are deducted, so you keep more of your take-home pay. Because you don’t pay taxes at the time you contribute, you’ll owe taxes on both your contributions and any investment earnings when you withdraw your money in retirement (when you may be in a lower income tax bracket).	The money goes into your plan account after taxes are withheld. In exchange for paying taxes now, both your contributions AND any earnings can be withdrawn tax-free in retirement, provided you meet two requirements for tax-free withdrawal of earnings: At least five years have elapsed since your first Roth contribution. You are at least age 59½ or the withdrawal follows death or total disability.
Keep in mind that company contributions are made on a pre-tax basis, no matter which contribution type(s) you select.

Pre-Tax Contributions

Roth Post-Tax Contributions

The money goes into your plan account before taxes are deducted, so you keep more of your take-home pay.
Because you don’t pay taxes at the time you contribute, you’ll owe taxes on both your contributions and any investment earnings when you withdraw your money in retirement (when you may be in a lower income tax bracket).

The money goes into your plan account after taxes are withheld.
In exchange for paying taxes now, both your contributions AND any earnings can be withdrawn tax-free in retirement, provided you meet two requirements for tax-free withdrawal of earnings:
- At least five years have elapsed since your first Roth contribution.
- You are at least age 59½ or the withdrawal follows death or total disability.

Keep in mind that company contributions are made on a pre-tax basis, no matter which contribution type(s) you select.

Company Matching Contributions

To support your retirement saving efforts, WinnCompanies matches 50% of your contributions to the plan when you contribute up to 6% of your eligible earnings, for a company contribution amount that equals up to 3% of your eligible earnings each paycheck.

Here’s how the company match works:

Vesting

Vesting is another way of saying “how much of the money is yours to keep if you leave the company.” You are always 100% vested in your own contributions and company matching contributions, including any investment gains and losses on the money.

For more information, visit the Employee Resources page on Winntranet to see the detailed plan certificate.

Before investing, carefully consider the funds’ or investment options’ objectives, risks, charges, and expenses. Call 1-800-835-5097 for a prospectus and, if available, a summary prospectus, or an offering circular containing this and other information. Please read them carefully. Investing involves risk, including the risk of loss.