The OHM Advisors Retirement Savings Plan Overview
The OHM Advisors Retirement Savings Plan will assist employees in reaching financial goals for retirement, through the following:
- 401(k) tax-deferred savings plan
- Roth 401(k)
- Profit-sharing plans.
Fidelity and OHM Advisors are committed to helping you make the most of these opportunities. You will get the information you need to make sound choices, the tools you need to manage effectively, and the continuing guidance and support you need to pursue your goals with confidence. Here’s how to join the plan or to get more complete information about investment options available through the plan, including fees and expenses:
- Call the Retirement Benefits Line at 1-800-835-5097.
- Visit Fidelity NetBenefits® online at www.401k.com. To set up your online account, you will be prompted to enter your email address and create your password. Then you can click on the link to enroll.
Through automatic payroll deductions, you may contribute between 1% and 90% of your eligible pay on a pre-tax basis, up to the annual IRS dollar limit. You may change your deferral percentage as applicable at the beginning of each payroll period. If you are age 50 or over by the end of the calendar year and have reached the annual IRS limit or Plan’s maximum contribution limit for the year, you may make additional salary deferral contributions to the Plan up to the IRS Catch Up Provision Limit.
- The Roth 401(k) contribution option is also available.
- A Roth 401(k) contribution to your retirement plan allows you to make after-tax contributions and take any associated earnings completely tax free at retirement.
- OHM Advisors will match 50 cents for each dollar deposited by the employee, up to a maximum Company contribution of $1,500 per plan year.
- The employer match will be paid following the end of the plan year provided the employee works a minimum of 1,000 hours during the plan year.
Profit Sharing
- The OHM Advisors profit sharing program is 100 percent funded by OHM Advisors.
- Employees are eligible to participate after reaching age 21 if they complete at least 90 days of service and are employed at the end of the plan year.
- An employee is required to work 1,000 hours per year to qualify.
- The employer profit sharing distribution will be paid to qualifying employees following the end of the plan year.
- Allocation of the employer contribution is made each year according to rules and regulations specified by the Internal Revenue Code.
A detailed description of the plan is contained in the summary plan document and will be provided to each eligible employee. Any questions regarding the plan should be directed to the plan administrator via the Human Resource Department.