Retirement
Our 401(k) Retirement Savings Plan helps you save for retirement. The plan offers tax savings NOW through pre-tax contributions and/or tax savings AFTER you retire through a Roth after-tax option. Additionally, this plan offers an In-Plan Roth conversion/rollover feature.
Who is Eligible for the 401(k)?
All regular employees age 21 and over are eligible to join the plan with an entry date as the first day of the month following 3 consecutive months of service.
How Do I Enroll in the 401(k)?
Visit the John Hancock website at myplan.johnhancock.com to manage your account, investments and contributions.
Advantive offers a variety of quality investment options. You’ll also have access to special services such as automatic account rebalancing and personal investment assistance from a licensed investment counselor.
What Are Your Plans?
Many of us can’t plan past the weekend, never mind thinking about a retirement nest egg. Our 401(k) retirement plan will help you set a retirement savings goal and stick to it.
The important thing is to start now and set aside what you can, even if you think it’s too small an amount.
With the company match and compound interest, that “small amount” can grow over time. You’ll be a retirement saver before you know it.
Save Now, Enjoy Later
Increase Your Retirement Savings with a 401(k)
- Advantive will match your contribution for each dollar you contribute to the plan, up to the first 4%.
- Contribute using convenient payroll deductions up to the IRS limit of $24,500 per year.
- Change the amount of your contributions or stop your payroll contributions at any time.
- Decide how to invest your 401(k) or allow the plan to choose for you.
- The 401(k) contribution limit for employees age 50 or older is $32,500 per year.
- The 401(k) contribution limit for employees age 60-63 is $35,750 per year.
Note: These are the projected IRS contribution limits for 2026. These limits may be subject to change.
Important Differences of a Roth 401(k)
- You pay taxes when you contribute, at your current tax rate.
- Account interest and dividends are not taxed if you meet certain criteria.
- Like a traditional 401(k), you can withdraw money without penalties when you reach age 59, but you must have held the account for at least 5 years.
- You are not forced to take distributions at age 70. You can keep the money in your Roth account as long as you want.