401(k) Plan
You will have the opportunity to contribute to a 401(k) plan administered by Sentinel Benefits.
If you're like most people, you spend so much time working it's hard to give much thought to the time when you won't have to. But it's definitely worth your time now - especially when you consider you'll need about 80% of your income to maintain your current standard of living in retirement.
You are eligible for this plan if you are not part of an excluded class of employees. You must be over the age of 18 and complete three full months of service to be eligible.
AUTOMATIC DEFERRALS
Once you are eligible for this program, you may begin participating on the plan's "Entry Date". The entry dates(s) will be monthly. Your Entry Date will be the first of the month following 90 days of employment. Allied Beverage Group has automatic enrollment therefore 4.00% of your compensation each payroll period will be contributed to the plan as an elective deferral. You may change this percent or choose to not participate in this program by following Allied Beverages opt-out procedures.
If you have any questions or concerns regarding your 401(k) please reach out to ABG's Human Resource Department.
Application of automatic deferral to new participants: If you are a new participant in the plan, then the automatic deferral provisions apply if your Entry Date is on or following the effective date of the automatic deferral provisions.
Application of automatic deferral to existing participants: If you were a participant in the plan as of the effective date of the automatic deferral provisions, then the automatic deferral provisions apply to you unless you have a salary deferral agreement in effect on the automatic deferral provisions date and your salary deferral elected percentage is at least equal to the automatic enrollment provision percentage (4.00%).
CONTRIBUTING TO THE PLAN
Once you become eligible for this plan, you may defer as much as 70% of your eligible wages up to the indexed IRS contribution limit. All contributions are made on a pre-tax basis for federal income tax purposes and may be made on a pre-tax basis for state income tax purposes, if applicable in your state. Contributions are not made before Federal Payroll Tax (FICA).
IRS 2025 401(k) CONTRIBUTION LIMITS
Individual Contribution: $23,500
Catch-up Contribution (Age 50+): $7,500
Higher Catch-Up Contribution (Ages 60-63): $11,250
ALLIED BEVERAGE GROUP CONTRIBUTIONS
ABG will make a matching contribution equal to 50% of your salary deferrals, not exceeding 6%.
VESTING SCHEDULE
Your "vested percentage" for certain Employer contributions is based on vesting Years Of Service. This means at the time you stop working, your account balance attributable to contributions subject to a vesting schedule is multiplied by your vested percentage. The result, when added to the amount that are always 100% vested (any employee contributions), is your vested interest in the plan, which is what you will actually receive from the plan.
TRADITIONAL VS. ROTH 401(k)
With either a regular (pre-tax) deferral or a Roth deferral, you make a deferral contribution by electing to set aside part, either a percentage or dollar amount (if applicable) of your pay each pay period. For a pre-tax deferral, the taxable wages on your W-2 are reduced by your deferral contribution; therefore, you pay less current income tax. The tax on the pre-tax deferrals (traditional 401(k)) and earnings is postponed, or deferred, meaning you will pay tax on them when the plan distributes them to you.
A Roth deferral is an after-tax contribution, which means you pay current income tax on the deferral. Since you have already paid tax on the deferral, you won't pay tax on it again when you receive a distribution. In addition, if you satisfy certain distribution conditions, you won't have to pay tax on the earnings either. This means that the distribution of the Roth earnings can be tax-free, not just tax-deferred.
GETTING STARTED
1. Go to Sentinelgroup.com and select "I am an individual"
2. From the login box dropdown menu select "Retirement Accounts"
3. If you are logging in for the first time, click "New User"
4. Enter Plan Access Code: Non-Union Associates- MJAuzQW4
5. Enroll by selecting your contribution amount and any investments you would like
