401(k) Profit Sharing Plan

NWPS Benefits

Lemek LLC offers the opportunity for you to begin saving money for retirement. The 401(k) retirement savings plan allows you to contribute any amount you wish up to the IRS annual maximum through payroll deductions each pay period.

Lemek LLC provides a discretionary match of 25% up to 6% – whether that is on your pretax earnings contributions that are tax-deferred until they are distributed from your 401(k) or through Roth Contributions that are taken post-tax alleviating most of the tax implications that are owed when the funds are distributed from your account.

What are Roth contributions?

The Plan also allows Elective Deferral Contributions to be made as Roth Contributions. Roth Contributions are Elective Deferral Contributions that are made in the same manner as your pre-tax Elective Deferral Contributions except that Roth Contributions are made after taxes are taken from your paycheck. If certain requirements are met, a “qualified distribution” (tax-free withdrawal) from your Roth Contribution Account may not be taxed. Please note, Roth Contributions are “Matched Employee Contribution”. The Company may match contributions you make as Roth Elective Deferral Contributions.

You must designate how much you would like to contribute on a pre-tax basis (normal Elective Deferral Contribution) and how much you would like to contribute as an after-tax Roth Contribution. You are not required to make any Roth Contributions. You may continue to designate all of your Elective Deferral Contribution elections as normal pre-tax contributions, and vice versa, you may make all of your Elective Deferral contributions as after-tax Roth Contributions.

The sum of your Roth Contributions and normal Elective Deferral Contributions may not exceed the annual limit on normal Elective Deferral Contributions as regulated by the IRS.

When You Are Eligible

You are eligible to participate the first quarter following one year of service, if you work at least 1,000 hours, from your date of hire. You must be 21 years or older to enroll.

How to Enroll

When you are eligible to enroll in the plan, enrollment materials will be mailed to your home. The information will provide all of the plan details and enrollment instructions.

You can also contact Human Resources or NWPS Benefits for enrollment details.

When You Are Vested

The term “vested” refers to your ownership of the money in your account. Your own contributions are always 100% vested. Lemek LLC’s matching contributions are vested 20% per year of service. Participants are fully vested after they have been credited with 5 years of Vesting Service or tenure with the company.

Your Investment Options

Your investment choices include 21 lifestyle funds plus 9 target date fund arrangements.

How You Access Information

You have access to your account information in many ways:

• Quarterly Account Statements.
• Toll-free telephone access is available by calling NWPS Benefits at 888-700-0808.
• You can speak to a representative between the hours of 9:00 a.m. and 8:00 p.m. EST, Monday –Friday.
• For web access: www.yourplanaccess.net/nwps/

Loans

Should you need to access your money, loans are permitted, with a minimum amount of $1,000 not to exceed 50% of your vested balance or $50,000. However, you cannot have more than one loan outstanding at a time. To apply for a loan call NWPS Benefits at 888-700-0808 or online at www.yourplanaccess.net/nwps/.