Move your future forward with your workplace savings plan
Affiliated Consumer Services, Inc. 401(k) Profit Sharing Plan
Invest some of what you earn today for what you plan to accomplish tomorrow. Take a look and see what a difference enrolling in your workplace savings plan could make in helping you achieve your goals. Tax Savings – Once you make an election to defer some of your salary into the plan, your pretax contributions are deducted from your pay before income taxes are taken out. This means that you can actually lower the amount of current income taxes you pay each period. Also, you pay no taxes on any earnings until you withdraw them from your account, generally at retirement, enabling you to keep more of your money working for you now.
Convenience – Your contributions are automatically deducted regularly from your paycheck.
Portability – You can roll over eligible savings from a previous employer into this Plan. You can also take your plan vested account balance with you if you leave the company. See the Frequently Asked Questions section for additional details.
Investment Flexibility – You have the flexibility to select from investment options that range from more conservative to more aggressive, making it easy for you to develop a well-diversified investment portfolio.
In addition to the services provided by Fidelity, you also have access to Lincoln Financial Advisors Corp. Your advisor is not affiliated with Fidelity Investments.
Your retirement plan’s financial advisor contact information: David West Lincoln Financial Advisors Corp 406 Science Dr. Suite 310 Madison, WI 53711-1068 Timothy J. Mcilwain PH: (608) 287-3019
PH: (608) 287-3019 David.West@lfg.com
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Enroll Today. Investing in yourself is easy with your retirement plan. You can count on us to support you every step of the way with our account management website, Fidelity NetBenefits ® . First log in to netbenefits.com and we’ll show you how to get started step by step. Already enrolled? Skip this section and go right to the next page to see how your potential savings can really add up. Step 1 – Enroll Online Today – Go to netbenefits.com and click on “Register Now” when logging in for the first time. Follow the instructions to Enroll Today! Call the Retirement Benefits Line if you need assistance at 1-800-294- 4015. Step 2 – Decide how much to invest and enter your contribution per pay period. Step 3 – Select how you want to invest your contributions among the investment options available in the plan. Investment performance and fund descriptions are available online or over the phone. If you are interested in additional information about investing, go to the Learn section of NetBenefits ® .
Remember to designate your beneficiary(ies) by accessing “Profile” on NetBenefits.
For more information about your plan, go to netbenefits.com
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Frequently asked questions about your plan. Here are answers to some common questions about the key features, benefits, and rules of your plan. To learn more about your account log in to netbenefits.com. To review the principal features of your plan refer to your Summary Plan Description (SPD).
When can I enroll in the Plan? You are eligible to participate in the Plan if: • you are employed by the Employer • you are at least 18 years old • and you are not:
adjustments (COLAs) in $500 increments.
What is the Roth 401(k) option? Unlike your traditional, pretax 401(k) deferrals, the Roth 401(k) feature allows you to contribute after-tax dollars, but then withdraw tax-free dollars from your account when you retire, provided the distribution is “qualified”. A qualified distribution is one that is taken after the five taxable year period beginning January 1 of the year for which your first designated Roth contribution to the plan is made (or to a previous plan, if that amount was subsequently rolled over to the distributing plan) AND you turn age 59 ½, become disabled, or die. If you are eligible to make traditional pretax 401(k) contributions, you can also make Roth 401(k) contributions. Your total contributions to the plan (both Roth 401(k) deferrals and traditional pretax contributions) cannot exceed IRS limits, or your plan’s limit, if less. You can obtain additional information regarding Roth 401(k) contributions by accessing the Learn section on NetBenefits. Does the Company contribute to my account? Your employer will make Safe Harbor matching contributions to your account based on your contributions. The amount will equal: - 100% of the first 5% you contribute to the Plan To be eligible for Safe Harbor matching contributions you are required to: • make employee pretax deferral contributions or Roth 401(k) after-tax deferral contributions. The plan will match on the combined total of these contributions up to the matching limit. The Employer may make discretionary profit sharing contributions, if any, on your behalf in an amount to be determined by the Board of Directors. To be eligible for discretionary profit sharing contributions you are required to: • work a minimum of 501 hours or be employed by the Employer as of the last day of the Plan Year When am I Vested? The term “vesting” refers to the portion of your account balance that you are entitled to under the plan’s rules. You are always 100% vested in your: - employee deferral account(s) - rollover account - Safe Harbor matching contributions - and any earnings thereon. Employer profit sharing contributions and earnings will be vested in accordance with the following schedule:
- covered by a collective bargaining agreement - a leased employee - a nonresident alien who does not receive any U.S. source earned income from your Employer The Plan does not cover employees who are residents of Puerto Rico. Once you satisfy these requirements, you will become eligible to participate in the Plan on the first day of the following month. How do I enroll? To enroll in the Plan, log on to Fidelity NetBenefits ® at netbenefits.com, and click on “Register Now.” Follow the easy instructions to enroll online. Please refer to the Enroll Today section of this guide found on page #3. If you do not select an investment mix of your own, your Employer has directed Fidelity to place your contributions and/or loan repayments into a(n) American Funds Target Date Retirement target date fund that most closely aligns with your projected retirement date based upon your birth year. If you would prefer to select your own investments, please contact Fidelity by logging onto www.netbenefits.com and indicate your elections. How much can I contribute? Through automatic payroll deduction, you may contribute either a dollar amount or a percentage between 1% and 50% of your eligible pay on a pretax and/or Roth basis, up to the annual IRS dollar limit (2024 = $23,000). If you select a specific dollar amount, it may not exceed the Plan percentage limits which are based on your compensation. You may change your deferral dollar amount or percentage as applicable. Any changes made would take effect on the next Plan entry date (first day of each month). What are the IRS contribution limits? If you are under age 50, the IRS contribution limit for 2024 is $23,000. What “catch-up” contribution can I make? If you are age 50 or older, or will reach age 50 during this taxable year and have reached the annual IRS Contribution limit or the Plan’s maximum contribution limit for the year, you may make an additional “catch-up” contribution. The maximum annual catch-up contribution is $7,500. In each subsequent calendar year, catch-up contribution limits will be subject to cost of living
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How do I change my investment options? You may request investment changes (exchanges) or redirect future contributions among investment options available to you through Fidelity at netbenefits.com or by calling the Retirements Benefits Line at 1-800-294-4015 any business day the NYSE is open. How do I manage my account once I am enrolled in the Plan? NetBenefits is the online tool that puts you in the driver’s seat in saving for retirement. You can manage your account, track your savings progress and keep moving toward your goals right from your desktop. Log in to netbenefits.com to get started. You can discover a wealth of resources to help you achieve your savings goals. • Create an online statement • Go to the NetBenefits ® Learn section to set your financial goals for retirement and create a strategy to get there • Attend online workshops
Years of Service for Vesting
Percentage
less than 2
0
2 3
20
100 The money your employer contributes to your account in the form of a match or profit sharing contribution and any earnings become yours after a certain period of time. This is known as vesting. The vesting schedule for employer contributions is detailed in your Plan’s Summary Plan Description. But remember, the money you contribute to the Plan and any earnings on those contributions are always yours. However, the value of your account may fluctuate depending on market conditions. Can I take a loan from my account? Although your plan account is intended for your retirement, you may borrow from your account. Can I make withdrawals from my account? Withdrawals from the Plan are generally permitted in the event of termination of employment, retirement, disability, or death. Your Plan may allow for additional types of withdrawals. Please refer to your Summary Plan Description for further details. You may also be eligible for a withdrawal in the case of a severe financial hardship as defined by your Plan. To learn more about and/or to request a withdrawal, log in to Fidelity NetBenefits at netbenefits.com or call the Retirement Benefits Line at 800-294-4015. Can I move qualified money from another retirement account into my account in Affiliated Consumer Services, Inc. 401(k) Profit Sharing Plan? You may be permitted to roll over eligible contributions into this Plan from a previous employer’s retirement. For other eligible account types, please see your Summary Plan Description. Be sure to consider all your available options and the applicable fees and features of each before moving your retirement assets. Once you have confirmed that your Employer will accept your rollover contribution, follow these easy steps to complete a rollover into the Plan: • Contact your prior Plan provider to request a rollover distribution • Rollover check issued should be made payable to Fidelity Investments Institutional Operations Company (FIIOC) for the benefit of (FBO): your name and sent to you • Initiate the rollover by logging into netbenefits.com (recommended) or by completing the rollover contribution form found at the end of the Enrollment Guide • Return both the applicable rollover documentation and the check from your prior Plan as per the rollover instructions How do I access my account? You can access your account through NetBenefits. Log in to netbenefits.com and you will have access to your account information and retirement planning tools. You also can call the Retirement Benefits Line at 1-800-294-4015 between 8:30 a.m. and 8:30 p.m. ET on any business day the NYSE is open.
For more information about your plan, go to netbenefits.com
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Investment Options: Before investing in any investment option, consider the investment objectives, risks, charges, and expenses. Contact Fidelity or your investment professional for a mutual fund prospectus or, if available, a summary prospectus containing this information. Read it carefully. What follows is an introduction to the investment options you can choose for your Plan account. You can spread your investments among several options to take advantage of what each has to offer and help balance different types of risk. Reviewing this information can help you understand and compare your options. For more complete information about any of the mutual funds available through the Plan, including fees and expenses, log on to Fidelity NetBenefits® at netbenefits.com.
Fund Name
Spectrum Category
More Conservative Investment Options to the top have potentially more inflation risk and less investment risk
Government
Retail
Institutional
Money Market (or Short Term)
• Putnam Stable Value Fund 25
Stable Value
Government
Diversified
Municipal
Inflation-Protected
High Yield
International/Global
• American Funds U.S. Government Securities Fund ® Class R-6
• Columbia Strategic Income Fund Institu- tional 3 Class • Fidelity ® U.S. Bond Index Fund • Fidelity Advisor ® Total Bond Fund Class I
• Fidelity ® Infla -
• Federated Hermes Institutional High Yield Bond Fund Class R6
tion-Protected Bond Index Fund
Bond
Convertibles
International • BlackRock Global Allocation Fund, Inc. Class K
Balanced / Hybrid
Large Value
Large Blend
Large Growth
• Invesco Comstock Fund Class R6
• American Funds Fundamental Investors ® Class R-2E • Columbia Contrarian Core Fund Institutional 3 Class • Fidelity ® Total Market Index Fund
• Franklin Growth Series Class R6
Mid Value
Mid Blend
Mid Growth
Domestic Equity
• Columbia Select Mid Cap Value Fund Institu- tional 3 Class
• Fidelity ® Mid Cap Index Fund
• Delaware Ivy Mid Cap Growth Fund Class I
Small Value
Small Blend
Small Growth
• Undiscovered Managers Behavioral Value Fund Class R6
• Fidelity ® Small Cap Index Fund
• ClearBridge Small Cap Growth Fund Class IS
Diversified
Regional
Emerging Markets
Specialty
• Goldman Sachs International Small Cap Insights Fund Class R6 • T. Rowe Price Overseas Stock Fund I Class
• Goldman Sachs Emerging Mar- kets Equity Fund Class R6
International / Global Equity
• Fidelity ® Real Estate Index Fund
Specialty
Long-Short
More Aggressive Investment Options to the bottom have potentially less inflation risk and more investment risk
Company Stock
This spectrum, with the exception of the Domestic Equity category, is based on Fidelity’s analysis of the characteristics of the general investment categories and not on the actual investment options and their holdings, which can change frequently. Investment options in the Domestic Equity
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category are based on the options’ Morningstar categories as of the date indicated. There may be a number of funds in each category and each may have a significantly different risk profile as compared to other funds within that category as well as compared to funds in other categories on the spectrum. Morningstar categories are based on a fund’s style as measured by its underlying portfolio holdings over the past three years and may change at any time. These style calculations do not represent the investment options’ objectives and do not predict the investment options’ future styles. Investment options are listed in alphabetical order within each investment category. Risk associated with the investment options can vary significantly within each particular investment category and the relative risk of categories may change under certain economic conditions. For a more complete discussion of risk associated with the mutual fund options, please read the prospectuses before making your investment decisions. The spectrum does not represent actual or implied performance.
Stock markets are volatile and can fluctuate significantly in response to company, industry, political, regulatory, market, or economic developments. Investing in stock involves risks, including the loss of principal.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
For more information about your plan, go to netbenefits.com
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Investment Options: Target Date Funds
Target date funds offer a blend of asset classes, generally stocks, bonds, and short-term investments, within a single fund. The funds are generally designed for investors expecting to retire around the year indicated in each fund’s name.
More Conservative Investment Options to the left have potentially more inflation risk and less investment risk
More Aggressive Investment Options to the right have potentially less inflation risk and more investment risk
American Funds 2010 Target Date Retirement Fund ® Class R-6 American Funds 2015 Target Date Retirement Fund ® Class R-6 American Funds 2020 Target Date Retirement Fund ® Class R-6 American Funds 2025 Target Date Retirement Fund ® Class R-6
American Funds 2030 Target Date Retirement Fund ® Class R-6 American Funds 2035 Target Date Retirement Fund ® Class R-6 American Funds 2040 Target Date Retirement Fund ® Class R-6
American Funds 2045 Target Date Retirement Fund ® Class R-6 American Funds 2050 Target Date Retirement Fund ® Class R-6 American Funds 2055 Target Date Retirement Fund ® Class R-6 American Funds 2060 Target Date Retirement Fund ® Class R-6 American Funds 2065 Target Date Retirement Fund ® Class R-6
Target date investments are generally designed for investors expecting to retire around the year indicated in each investment’s name. The investments are managed to gradually become more conservative over time. The investment risks of each target date investment change over time as its asset allocation changes. They are subject to the volatility of the financial markets, including equity and fixed income investments in the U.S. and abroad and may be subject to risk associated with investing in high yield, small cap and foreign securities. Principal invested is not guaranteed at any time, including at or after their target dates.
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Additional Resources and Next Steps
Discover the resources available to help you find out how much you may need to save to reach your goals. Log in to NetBenefits ® , and go to the Learn section. Not sure how much you can afford to contribute? The Fidelity Take Home Pay Calculator shows how affordable it can be to invest in your plan. Simply enter the amount you might contribute on a pretax basis and see how it impacts your pay. Want to learn how contributions today may impact your retirement income? Our calculators and tools will help you take the guesswork out of saving for retirement and assist in building an income strategy to meet your needs. Need some additional help? Fidelity offers a series of checklists, tools and videos that can help you make the most of your retirement savings plan. For help understanding the benefits of enrolling in your plan, go to netbenefits.com and check out the e-Learning catalog within the Learn section. ¿Habla español? Para empezar, llame a nuestros representantes dedicados que hablan español a la línea de Beneficios de Jubilación de Fidelity (Fidelity Retirement Benefits Line) al 800-587-5282.
For more information about your plan, go to netbenefits.com
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IMPORTANT INFORMATION:
This document provides only a summary of the main features of Affiliated Consumer Services, Inc. 401(k) Profit Sharing Plan, and the Plan document will govern in the event of any discrepancy. This Plan is intended to be a participant-directed Plan as described in Section 404(c) of the Employee Retirement Income Security Act of 1974 (ERISA), which means that fiduciaries of the Plan are ordinarily relieved of liability for any losses under ERISA that are the direct and necessary result of investment instructions given by a participant or beneficiary. All trademarks and service marks appearing herein are the property of FMR LLC or an affiliate.
Not NCUA or NCUSIF insured. May lose value. No credit union guarantee. Approved for use in Advisor and 401(k) markets. Firm review may apply.
Not FDIC insured • May lose value • No bank guarantee
©2010-2024 FMR LLC. All rights reserved.
Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917
44525
492514.24.0
For more information about your plan, go to netbenefits.com
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