401(k)
Plan Highlights Hyatt Corporation Retirement Savings Plan
Eligibility You’re eligibletojointheHyattRetirementSavingsPlan(RSP)onyour30thday ofemploymentonlineatrps.troweprice.comorby calling 1-800-922-9945. Youcanenrollatanytime,butifyoudonotmakeanelection,theHyattRSPisset upsothat you’ll be automatically enrolled after your 30thdayof employment. Onceenrolled,1%ofyourbefore-taxpaywillbedeductedfromyourpaycheck andautomaticallyinvestedinapre-assembled,age- based investment with the target date that is closest to the year you will turn 65. You will receive details about your automatic contributions,includinghowtochangeyour contribution rate, contributiontype(before-taxorRoth),orinvestment election, oropt out of the plan, before payroll deductions are scheduled to begin. Employee Contributions You can contribute up to 75%of your pay in before-taxand/or Roth (after-tax) contributions, up to the IRSannual limits. ▪ Before-taxcontributions:Yourcontributions come out of yourpaycheck beforeincome taxesaretakenout,which reduces yourcurrenttaxable income.Inaddition,you don’t havetopaytaxesonyourcontributionsand associatedearningsuntil you withdraw them from your account. ▪ Rothcontributions:Rothcontributions aremadewithmoneythathas alreadybeentaxed.Unlikebefore-taxcontributions, Roth contributions do not provide a tax break today. The tax benefits come when you takea qualified distribution.* When you take a qualified distribution, you won’t have to pay additional taxes on the money you’ve contributed or on any earnings in your Roth account. *Aqualifieddistributionistax-freeiftakenatleast5yearsaftertheyearofyourfirstRothcontribution AND you’ve reached age 59½,become totallydisabled,ordied.Ifyourdistributionisnotqualified,any earningsfromtheRothportionwillbetaxableintheyearitisdistributed.These rulesapplytoRoth distributionsonlyfromemployer-sponsoredplans.Additionalplandistributionrulesapply. Automatic Increase Yourplan automatically enrollsyou in the T.Rowe Price AutomaticIncrease service. This service gradually increases your contributionamounteachMarch by1%,uptoamaximumof75%.Youcanchangethemonthoftheannual increase,the amountoftheincrease,andthecontributiontype.Oryoucanturn offtheserviceatanytime. You’ll receive more detailed informationaboutthis servicepriortotheeffectivedate. Hyatt Matching Contributions You’re eligiblefortheHyattmatchingcontributionafteroneyearofservice.Hyatt willmatch100%ofthefirst3%youcontributeand 50%onthenext2%.Consider contributingatleast5%toreceivethefullmatchingcontribution.Forexample,if youcontribute5%, Hyatt will add an additional 4%in matching contributions for a total savings of 9%. Vesting You are 100%vested in anycontributions you make,as well as any Hyatt matching contributions. Investing Theplan offersadiverseinvestmentmixforyou tochoose from,including age-based portfolios.
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401(k)
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