💸 401(k)

The 411 on your 401(k)

ReadMe offers a 401(k) retirement plan. Employees are eligible to enroll in the plan once they are 21 years old and are scheduled to work at least 1,000 hours during a plan year. Employees will receive a comprehensive onboarding package, but here are the highlights:

ELECTIVE DEFERRAL

Defer up to 100% of compensation pre-tax, or make Roth contributions post-tax up to the federal limit.

MATCHING

ReadMe does not currently match contributions, but plans to match as the company grows. We will let all employees know when matching begins.

VESTING

Employees have a fully vested and nonforfeitable interest in their Elective Deferral Account.

INVESTMENT

Employees direct the investment of the account into available Investment Funds. We currently use the company Human Interest as our plan administrator, which monitors investment restrictions prescribed by the IRS.

DISTRIBUTIONS

Distributions are allowed (1) immediately after employment terminates, (2) normal retirement age, (3) after age 59.5, (4) from rollover contribution account at any time (5) death.