JOHNSONCO 401K PLAN
Rollovers: The Plan may accept a Rollover Contribution made on behalf of any Employee not excluded from the Plan who has met the age and service requirements of the Plan. If you have money in a non-Roth account you may rollover/transfer the account balance to a Roth (after-tax) account under this plan. Vesting Fully Vested Accounts: You will have a fully vested and nonforfeitable interest in your Elective Deferral Account, Rollover Contribution Account and Qualified Non-Elective Contribution Account. Safe Harbor Matching Contributions: Your interest in your Safe Harbor Matching Contribution Account will vest according to a 2-year cliff vesting schedule (100% after two years of vesting service). Non-Elective Contributions: Your Non-Elective Contribution Account is subject to a 2-6 year graded vesting schedule (20% per year starting with two years of vesting service). Investing Plan Contributions Investments: You may direct the investment of all of your Accounts in one or more of the available
Investment Funds. Your elections will be subject to such rules and limitations as the Plan Administrator may prescribe. The Plan Administrator may restrict investment transfers to the extent required to comply with applicable law. The Plan is intended to constitute a plan described in section 404(c) of ERISA. This means that Plan fiduciaries may be relieved of liability for any of your losses that are the result of your investment elections. Distributions and Loans You may receive a distribution from your account under the following circumstances: • Immediately after your employment terminates • Hardship • After age 59 1/2 • From the Rollover Contribution Account at any time • Death • Disability
Distributions from the plan:
Loans: The minimum loan amount is $1,000 and the maximum number of loans outstanding is one (1). Please see your Loan Procedures for additional details on taking a loan from the Plan. Contact Information
Plan Administrator:
Vertical Earth, Inc Address: 6025 Matt Highway, Cumming, Georgia 30028 Phone number: 770-888-2224
Note: These plan highlights are intended to be a very concise overview of plan features. For a detailed description of plan features, please review the Summary Plan Description or contact the Plan Administrator for more information. The plan features described in these plan highlights are subject to change and in the event of a discrepancy between the legal plan document and these highlights (or any other summary of plan features), the plan document shall control.
JohnsonCo 2025 Benefits Guide |
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Vertical Earth 401(k) Plan
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