401(k) Profit Sharing Plan
The Segal Group Profit Sharing Plan is a savings and investment plan designed to help you build retirement income and support your long‑term financial goals. Full-time and part-time employees are eligible to participate in the plan as soon as administratively possible after your employment date. As a new hire, you’re enrolled in the plan automatically at a 6% before-tax contribution rate.
How the plan works
- Your contributions. You can contribute to the plan through payroll deductions on a before-tax, Roth and/or after-tax basis. You may change your contribution rate and type at any time. If you’re age 50 or older, you may make catch‑up contributions to help boost your retirement savings as you approach retirement. Your combined before-tax and Roth contributions cannot exceed the IRS annual contribution limit of $24,500 for 2026. If you’re age 50 or over, you can make an additional $8,000 catch-up contribution ($11,250 if you’re age 60–63). You can also contribute rollover contributions from eligible savings plans.
- Company contributions. Segal contributes to your plan account in two ways:
- Basic matching contributions: Segal matches 50% of your before‑tax and/or Roth 401(k) contributions on a per-paycheck basis, up to 6% of your eligible base salary. Catch‑up contributions are not matched.
- Discretionary contributions: Segal may make a discretionary matching contribution, a profit-sharing contribution or a combination of both. These contributions are based on Segal’s profitability and determined by Segal’s Board of Directors.
- Vesting. Company matching and discretionary contributions vest at a rate of 20% per year over your first five years of service. If you leave Segal before you’re fully vested, you’re entitled to the vested portion of your account, including any investment earnings.
- Loans. You may take a loan of up to 50% of the vested balance of your account. You’re permitted to take one loan in a 12-month period, with a maximum of four loans outstanding.
- Withdrawals. Two types of withdrawals from your own contributions, plus any net earnings on them, may be available before you retire or terminate employment to help meet your immediate financial needs: non-hardship withdrawals and hardship withdrawals.
- Investments. The plan provides a range of investment options, allowing you to choose the mix that fits your goals and risk tolerance. Fidelity Investments, the plan recordkeeper, offers assistance with investment options.
- Education tools to help you manage your account and plan for retirement. Fidelity Investments offers a variety of financial planning tools and educational resources, including live and on-demand workshops. Fidelity also offers complimentary one-on-one support.
