Your Plan may offer a discretionary (i.e. optional) Employer Profit Sharing contribution. This is not a matching contribution in that its formula is not based on your own contributions to your Plan account. The calculation is based on your salary (eligible wages, regardless of your own contributions to the Plan.) Please note that since this is a discretionary Employer contribution, the Plan may or may not elect to make the contribution and may change the formula or stop offering the contribution at any time without prior notice. Please consult your Employer to learn more about their future Profit Sharing contribution intentions and formula. We also recommend that you consult your Plan's Summary Plan Description for additional details on Employer contributions, such as the vesting schedule, allocation periods, and other details.
What is a Profit Sharing contribution? How is it calculated? Print
Modified on: Thu, 25 Jun, 2020 at 2:22 PM
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