401(k) Retirement Plan

Retirement Readiness

Preparing for retirement starts with consistent saving. Our 401(k) Plan, administered by Fidelity, makes it easy with convenient payroll deductions, flexible investment options, and company matching contributions to help your savings grow.

Eligibility

All full-time and part-time employees, age 18 and above, are eligible to participate on the first of the month following 90 days of service. Fidelity, the plan administrator, will email you an enrollment packet after you’ve met your eligibility date.

401(k) Contributions

You may contribute up to 90% of your eligible pay on a pre-tax basis, subject to IRS annual limits ($23,500 for 2025).
If you are age 50+, you may make catch-up contributions. The SECURE 2.0 Act allows employees age 60–63 to contribute higher “super catch-up” amounts.
- Ages 50 – 59: $7,500
- Ages 60 – 63: $11,250
- Age 64+: $7,500

Company Contributions

Your employer currently matches the first 2% of eligible pay that you contribute, at the rate of $0.25 for each $1.00 you contribute. Matching contributions are vested at 25% per year of service, with 100% vesting after four years. Your employer may also make discretionary contributions.

Roth 401(k) Feature

You may choose to contribute after-tax dollars through a Roth 401(k). While Roth contributions do not provide an upfront tax deduction, your account grows tax-free. Withdrawals during retirement are also tax-free, provided you are at least 59½ and have held the account for five years or more.

Investing Your Account

You direct how your account is invested by choosing from a variety of funds offered through Fidelity. You can change your contributions and investment elections at any time.

How to Roll Over Your 401(k)

You may be able to roll over money from another employer’s qualified 401(k) plan into the Ensign Services, Inc. 401(k) Retirement Savings Plan. To do so, follow the Fidelity Rollover Instructions:

Contact Fidelity at 1-800-835-5095 to request a Rollover Contribution Form.
Work with your prior plan administrator to have the funds distributed directly to Fidelity or sent to you as a check payable to Fidelity for the benefit of your account.
Submit the completed form and any required documentation to Fidelity.
Once processed, your rollover funds will be deposited into your Ensign 401(k) account.

If you have questions at any point in the process, call Fidelity at 1-800-835-5095 for assistance.

Helpful Tips on Saving for Retirement

Start saving as soon as possible to grow your retirement account.
Begin with small contributions, if necessary, and increase contributions over time.
Make setting aside money for retirement a habit.
Understand that investment returns may fluctuate.
Let it sit. Avoid penalties by leaving funds in your 401(k) until retirement.
If you change jobs, you can roll over your retirement account.