Retirement Readiness

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:

1. Contact Fidelity at 1-800-835-5095 to request a Rollover Contribution Form.
2. 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.
3. Submit the completed form and any required documentation to Fidelity.
4. 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.

SECURE 2.0 Act Rules and Catch-Up Contributions

A new rule under the SECURE 2.0 Act requires certain affiliate employees who make catch-up contributions. Effective January 1, 2026, those impacted by the regulation will have catch-up contributions made on a Roth (post tax) basis. Once the pre-tax limit is met, your contributions will be automatically be switched from pre-tax to Roth.

You are affected by this rule if:

• You are 50 or over in 2026, and
• Your FICA wages under the Ensign plan exceed $150,000 in the preceding calendar year

This table shows the IRS contribution limits for employees age 50 or older.

Age	Standard Contribution Limit	Catch-Up Contribution Limit	Total Contribution Limit
50-59	$24,500	$8,000	$32,500
60-63	$24,500	$11,250	$35,750
64+	$24,500	$8,000	$32,500

If you think you are affected by the SECURE 2.0 Act’s new rules, you can:

• Review your current contributions and plan options.
• Talk to a financial or tax advisor to understand how this change may affect your retirement strategy.
• Login to netbenefits.com to view or update your contribution elections.

Designate and Regularly Update Your Beneficiaries

Designating beneficiaries is essential to ensure your retirement assets pass directly to chosen individuals, bypassing the costly and time-consuming probate process.

• Update your beneficiaries for your 401(k) plan by logging into NetBenefits. Click on “Profile”, then select “Beneficiaries” to make your choices.
• Did you know that beneficiary designations override wills? This makes it imperative to keep them current, especially following life events such as marriage, divorce, or the birth of a child.

 

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.