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A 401(k) is a retirement savings plan that gives you an easy, tax-advantaged way to save for your future. Dexter matches what you save, dollar for dollar, up to 4% of your pay.
You choose a percentage of your pay to contribute, and it comes straight out of your paycheck before you ever see it. Dexter then matches those contributions dollar for dollar, up to a maximum of 4% of your pay. The plan is administered by Schwab.
Manage Your 401(k)
Log in to Schwab to set your contribution rate, choose investments and name a beneficiary.
How the Match Works
Dollar for dollar, up to 4% (non-union employees)
If you contribute 4% of your pay, Dexter contributes another 4%. If you contribute less than 4%, Dexter matches what you put in. This is money added to your retirement savings on top of your own contributions — the same way Dexter contributes to your HSA.
3% Safe Harbor profit sharing
After one year of service, non-union employees also receive a 3% Safe Harbor profit sharing contribution.
Union employees
Union employees can join the 401(k) right after hire. After one year of service, Dexter matches 25% of your contributions, up to 6% of your pay. Union employees do not receive the 3% Safe Harbor profit sharing contribution.
Naming a Beneficiary
Naming a beneficiary makes your intentions clear about who receives your account. You can name one by calling Participant Services, using the Schwab Workplace Retirement app, or logging in to your account online.
