All employees are eligible to participate in the World Wide Technology, Inc. 401(k) plan administered by Merrill Lynch. To enroll, you can either go online at https://www.benefits.ml.com or you can call the Participant Service Center at 800.228.4015 between 8:00am and 7:00pm ET.
Here are some highlights about the plan:
- You can start contributing to the plan on the 1st of the month, following 90 days of employment. You may rollover funds from another qualified plan at anytime.
- You can set aside from 1% to 75% of your salary automatically through regular payroll deduction.
- You have four options for your contributions:
- Traditional – Your deductions from your paycheck are pre-taxed. You pay taxes on your remaining salary, so you’ll save on taxes while you are saving for retirement.
- Roth – You pay regular income tax on your contributions before the money goes into your account. Current taxable income is not reduced.
- After Tax – This option allows you to make contributions above the IRS limits each year.
- Traditional/Roth Combination – You can contribute part to Traditional and part to Roth.
- WWT provides a discretionary match dollar for dollar up to 6% of your compensation contributed to the plan. This match is applied by March 31st of the following year.
- You are always 100% vested in your Elective Deferral and After-Tax Contributions. There is a five year vesting schedule for your Employer Matching Contributions.
- You will receive quarterly statements that reflect any recent activity on your account.
- You will have access to your account information online at https://www.benefits.ml.com.
- You may contact Russell Brightman, Merrill Lynch Financial Advisor, at 314.290.5744, if you have questions regarding the investment choices.
- Visit Benefits Forms library on Vantage for detailed plan information.