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401k

401k

Key Plan Highlights:

  • Eligibility: You must be at least 18 years old to participate. Eligibility begins the first of the month on or following your date of hire.

  • Vesting: Your 401(k) will be 100% fully vested after 1 year of service.

  • Deferral: You will be automatically enrolled at 4% deferral unless you choose to opt out on Fidelity’s website, www.401k.com. You can change your deferral at any time on www.401k.com.

  • Contribution limits: The maximum annual contributions you can defer are regulated by the IRS. For 2025, it is $23,500. If you are 50 years or older, you can contribute an additional $7,500 in 2025. If you are 60-63, you can contribute an additional $11,250 in 2025.

  • Company Match: Baxter Auto will match 50% of your chosen deferral up to 4%. The maximum match you can receive is 2%. You must work at least 1,000 hours and be employed on 12/31 to be eligible for the annual match. The match will be deposited into your account the following calendar year.

Fidelity Enrollment Guide

Fidelity Fast Facts

401k Contact Information Flyer

401k Brainshark - Brief Overview of the Baxter Shared Services Retirement Plan

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Employee Benefit Offerins

Questions? We're Here to Help.

LET US KNOW IF YOU NEED ANY ASSISTANCE

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Benefits Enrollment Center

Tel: 877-282-0808

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Fax: 531-365-2221

The information contained in this summary should in no way be construed as a promise or guarantee of employment. The company reserves the right to modify, amend, suspend, or terminate any plan at any time for any reason. If there is a conflict between the information in this brochure and the actual plan documents or policies, the documents or policies will always govern. Complete details about the benefits can be obtained by reviewing current plan descriptions, contracts, certificates, policies and plan documents available from your Human Resources Office. This benefits enrollment guide highlights recent plan design changes and is intended to fully comply with the requirements under the Employee Retirement Income Security Act (“ERISA”) as a Summary of Material Modifications and should be kept with your most recent summary plan description. This document is an outline of the coverage proposed by the carrier(s), based on information provided by your company. 
It does not include all of the terms, coverage, exclusions, limitations, and conditions of the actual contract language. The policies and contracts themselves must be read for those details. Policy forms for your reference will be made available upon request.  The intent of this document is to provide you with general information regarding the status of, and/or potential concerns related to, your current employee benefits environment. It does not necessarily fully address all of your specific issues. It should not be construed as, nor is it intended to provide, legal advice. Questions regarding specific issues should be addressed by your general counsel or an attorney who specializes in this practice area.

© 2023 Baxter Auto Group & GoToSMBO.com

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