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401(k)

All contract employees are eligible to participate in our 401K plan immediately upon hire, so you can now save money and enjoy the benefits of pre-tax deduction from the beginning of your employment. We’re pleased to provide an industry-leading match to your contributions after the first year of employment (subject to vesting).

401(k) Program Details

  • Match Amount: 
         50% of first 1% of salary deferred
         An additional 25% of the next 5% of salary deferred
         $1,000 maximum match
  • You will be eligible for the match after one year of service.
  • If you are eligible to receive the match, it will be deposited in January of the next year provided you are employed on December 31 of the current year.
  • Participants have access to investment advisors from The Strange Group at Janney Montgomery Scott, LLC and to Fidelity’s online tools.
  • Once you receive your enrollment kit from Fidelity, simply go to www.netbenefits.com  to enroll.  Your log-in is your Social Security Number and your PIN is your date of birth (MMDD).  You will be asked to reset your log-in information the first time you log in.

The maximum percentage an employee can contribute to the 401(k) plan is 75%. 

 

2018 Limits and Changes​

Category ​Amount
Maximum 401k Deferral ​$18,500
Maximum 401k Catch up (employees age 50 and over) $6,000
Maximum 401k Compensation $275,000
Highly Compensated ​$120,000
Social Security Wage Base $127,200


If you contributed to another 401(k) plan during the calendar year, you are responsible for making sure you do not exceed the 401(k) limit on the above table.  For example if your worked for another company and contributed $9,000 to their 401(k) plan you are technically eligible to only contribute $9,000 in the Apex 401(k) plan, so you would need to set your plan elections accordingly so you do not exceed the $18,000 limit.  

Why participate in a 401(k) Program?

  • Deductions are withheld on a pre-tax basis, which puts more money in your pocket.
  • You set a strong foundation for your retirement.
  • You can earn interest on your investments.

Please contact the Contractor Care group with questions about the 401(k) plan or enrollment: contractorcare@apexsystemsinc.com or 866-612-2739.