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Henriksen Butler

HB Workplaces / Retirement Plan

What is a 401(k)?How much should I contribute?Is there a maximum amount I can put in?

Plan Options: Traditional 401(k) Plan and ROTH 401(k)
A 401(k) is a savings and investing plan that gives you a tax break on money you set aside for retirement. Contributing to a 401(k) plan may be one of the most important things you can do to prepare for your long-term financial needs. Being on track to meet your financial goals will provide you and your loved ones peace of mind. A 401(k) plan allows you to contribute a portion of your compensation per pay period in order to prepare for retirement. If you are already contributing to the 401(k) plan, now may be a good time to increase your contributions.

(800) 338-4015 |

Henriksen Butler 401(k) Plan

Retirement Plan

What is a 401(k) plan?
401(k) refers to a section of the IRS Code that allows you to save part of your compensation on a Traditional PRE-TAX Basis. This lowers your current taxable income and helps your long-term saving grow faster. You may also choose to save part of your compensation on an AFTER-TAX Roth Basis. Roth contributions are taxed before they are contributed to the Plan. This allows tax-free growth and distribution contributions and the earnings on those contributions (assuming the contributions have been invested for at least five years and you have reached age 59 1/2).

Investment changes
You can switch between investment alternatives as often as permitted under the chosen investment.

You always own 100% of the contributions you make to the 401(k) and their earnings. Company contributions, if any, are based upon your years of service and vest at the following rate: less than two years: 0%, after two years: 100%.

Employee contributions
Employees can contribute on a pre-tax basis between 1% – 100% of income. See for the current maximum contribution limits.

Company contributions
The company’s 401(k) plan elects to make a profit-sharing contribution at the discretion of Henriksen Butler. Henriksen Butler’s Profit Sharing contributions are announced annually in February.

Contribution changes
You may change the amount of your contribution whenever you like by logging into Empower directly.

Investment choices
Contributions to the Plan are held in a trust account. The plan trustees regularly review the investment options offered. You can: 1) build a customized investment portfolio, 2) select an investment option based on your investment style, or 3) select an investment option designed by experts based on your age and projected retirement date.

You are eligible to enroll in the Plan if you are 18 or older and have completed two months of service. You will be auto-enrolled with a contribution match of 5% of your gross compensation on a pre-taxed basis. The first time you go in, you will need to establish your account by visiting or calling 1 (800) 338-4015 for assistance.

You can also contact Henriksen Butler’s Human Resources team with any questions.