RubinBrown Team Member Manual

Section: Profit-Sharing and 401(k) Retirement Plan 412

Policy Title: Policy Number:

Employee Benefits

Effective Date:

Supersedes Policy Dated:

06/01/2024

06/01/2023

Background: RubinBrown has established a profit sharing and 401(k) retirement plan for all eligible team members. RubinBrown’s 401(k) Plan features enable team members to defer a portion of their compensation, subject to IRS limits, on either a pre-tax basis (traditional 401(k)) or after-tax basis (Roth 401(k)). Policy: All team members, including part-time and interns, may participate in the 401(k) Plan immediately upon employment. Procedure: New team members will receive a welcome email from Fidelity to open and enroll in the 401k plan. The RubinBrown 401(k) Profit Sharing Plan accepts eligible rollover contributions from other employers’ plan. The Firm also provides a discretionary profit sharing contribution to Team Members employed on May 31 who have completed two years in which they have worked at least 1,000 hours. The years evaluated are anniversary years based on the Team Member’s original hire date. The Firm’s profit sharing contribution is based on the Firm’s profits each year and is allocated to participants based on eligible compensation during the Plan Year ending each June 30. The profit sharing contribution is generally deposited into team member’s accounts in September or October following the plan year-end. Team members’ voluntary 401(k) contributions, rollover accounts and share of Firm profit sharing may be invested in any allocation among an array of investment options with varying degrees of risk and return opportunities. The Plan’s administrator, Fidelity, provides a website (fidelity.com) which allows participants to select payroll deferrals, view and manage their investment choices in addition to providing information about other financial planning matters. Access to the value of accounts in the 401(k) Profit Sharing Plan is available upon retirement or other termination of employment. Upon termination or retirement, if the value of a Team Member’s account balance does not exceed $5,000, then a distribution will be made to the Team Member in a lump-sum payment. Account balances between $1,000 and $5,000 will be rolled into a self-directed IRA. Accounts balance less than $1,000 will be distributed to the participant. Participants may choose to leave their accounts over $5,000 in the Plan until such time as payments are required by IRS regulations. Active team member participants may borrow up to the lesser of 50% of their vested account value or $50,000 at a market interest rate to be repaid via payroll deduction over no more than 5 years. Withdrawals are also permitted in cases of severe financial hardship. Documentation of hardship should be presented at time of request. Hardship withdrawals are generally subject to regular income tax and a 10% penalty tax. For more detailed information on how to access the plan website or to view the Summary Plan Description visit UKG Benefits page and click the Links menu option.

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