Retirement

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Who’s eligible?
To be eligible for the 401(k) Plan, you must be a Telepictures employee with a 3-year employment contract combining all optional periods on file. Refer to the 401(k) Summary Plan Description (SPD) for complete details.

Overview
The Company is committed to supporting your financial well-being — today and tomorrow. That’s why we offer the TTT West Coast, Inc. 401(k) Retirement Savings Plan (401(k) Plan) to eligible Telepictures employees. The 401(k) Plan gives you an easy, tax-advantaged way to save for your future financial needs.

Benefits of participating include:
•    Current tax savings
•    Tax-deferred investment growth
•    Convenient payroll deductions
•    Range of fund options
•    Immediate vesting
•    Easy-to-use retirement planning tools

How to enroll
Eligible employees can enroll on the first of the month following three months of employment. To enroll, go to Fidelity’s website at www.401k.com and follow the prompts. An Enrollment Worksheet is also available. Your enrollment takes approximately 1-3 paychecks to process and deductions don't start until for pay earned as of the first of the month following your enrollment date. If you have questions or prefer to enroll by phone, call Fidelity at (800) 835-5097.

Don’t forget to name a beneficiary to receive the value of your account in the event of your death.
How to make your online beneficiary designations:
    *  Log into NetBenefits at www.401k.com
    *  From the Home page, click on the Menu icon on the top left
    *  Click on Beneficiaries
    *  Follow the prompts to add or change a beneficiary designation

How the Plan Works
•    You decide how much to contribute between 1% and 60%* of your eligible pay — or up to the IRS annual limit (in 2019, this is $19,000, or $25,000 if you’re age 50 or older) — whichever is less. *Highly compensated employees earning $125,000 or more in the prior year are limited to 8%. You can change your contributions effective the first of each month.
•    Contribute pre-tax money from your paycheck which reduces your current taxable income. You’ll pay taxes on your contributions and any earnings when you withdraw the money in retirement, when you may be in a lower tax bracket.
•    Choose from a wide variety of fund options. If you don’t know what funds to invest in, choosing a Fidelity Freedom Fund is as easy as knowing your current age and the age at which you want to retire. Research your fund options on Fidelity’s website at www.401k.com.
•    You are immediately 100% vested in your account which means that you own your contributions and any earnings on those contributions. Vesting is another way of saying “how much of the money is yours to keep if you leave the company.”
•    Manage your account online, 24/7. Check your balance, see how your investments are performing over time, use helpful retirement planning tools, and much more on Fidelity’s website at www.401k.com.

Tools and Resources
Whether you’re nearing retirement or just starting to save, Fidelity offers a variety of resources to help you make informed decisions. Simply log in to Fidelity’s website at www.401k.com to:
•    Enroll in the plan
•    Check your balance
•    Change your contribution rate
•    Manage your investments
•    Update your beneficiary
•    Use planning tools and calculators
•    Attend a web workshop
•    Access forms and documents

More Information
Learn about the 401(k) Plan so you can take full advantage! Remember, the time you spend planning for your financial future is always a smart investment.

If you are at least 50 years old or turning 50 in 2019, the 401(k) Plan offers you the opportunity to make additional pre-tax deferrals to your account in the form of catch-up contributions. In 2019, you may choose to elect up to $6,000 for your catch-up contribution. You may make a catch-up contribution only after you have made the maximum annual elective contribution of $19,000 or, if lower, 60% of your eligible compensation (8% if you are highly compensated). Click here for the enrollment form and learn more about the catch-up rules and provisions.

As required each year under the Employee Retirement Income Security Act of 1974, as amended (ERISA), TTT West Coast, Inc. files financial information on its benefit plans with the Internal Revenue Service. ERISA also requires that a summary of this information be distributed to employees. Click here for information on the retirement benefit plan in effect on December 31, 2017. The format of the Summary Annual Report is prescribed by Department of Labor regulations. Please note that these plans may not be applicable to you or your production.