Plan Contributions and Contribution Limits
Your Before-Tax, Roth and After-Tax Contributions
You may choose to direct from 1% to 60% of your Eligible Pay into the Plan on a before-tax and/or Roth basis or after-tax basis, or any of these options combined, subject to IRS limits on total contributions that can be made to a plan during a year. However, if you are a “highly compensated employee” your after-tax contributions for a year are limited to:
- 3% of your Eligible Pay if you are a Non-Guild Eligible Employee; or
- 4% of your Eligible Pay if you are a Guild-Represented Eligible Employee.
In addition, if you will reach age 50 by December 31 of the Plan year, you may make an additional before-tax or Roth catch-up contribution up to IRS limits on total contributions that can be made to a plan during a year. Catch-up contributions are not subject to the Plan’s limit on contributions of up to 60% of your Eligible Pay.
If you are eligible to receive an annual short term incentive compensation (“a STIC”) award, you must elect a deferral contribution percentage for this compensation to contribute your STIC award into the Plan. Your deferral contribution percentage for your STIC award can be different from the deferral contribution percentage for your regular payroll contribution of pay. You will need to visit www.netbenefits.com or call Fidelity at 1-800-835-5095 to elect a deferral contribution percentage for your STIC award. You must make a separate election from your regular payroll contribution if you want a portion of your STIC award contributed to your account. Unless you make a new separate election to contribute your STIC award into the Plan for a Plan year, the Plan will use your deferral contribution percentage that it used for the STIC award the prior Plan year. In other words, your STIC award deferral contribution percentage will remain in effect until you change it. If you have never elected a deferral contribution percentage for a STIC award under this Plan, your deferral contribution from the STIC award will be $0, except that any catch-up contributions that you elected will continue to be made from your STIC award. If you made a separate bonus election while a participant in the IHS Markit 401(k) Plan, your election was transferred to this Plan and will stay in effect for any STIC award until you change it. You may not make after-tax contributions from your STIC award.
As described in How to Elect Catch-up Contributions, catch-up contributions must be made in a separate election. Catch-up contributions will be withheld from any STIC award in the percentage elected for your catch-up contributions and will continue to be withheld from your STIC award regardless of your separate STIC award/bonus election (and even if that STIC award/ bonus election is 0%).
It is your responsibility to verify your elections prior to the distribution of a STIC award to ensure you have the exact election you requested.
It is possible that some or all of your after-tax contributions may have to be returned if you are considered a highly compensated employee. You will be notified if this limit affects you.
Key Terms For 2025, anyone who had 2024 compensation from the Company in excess of $155,000 is considered a highly compensated employee. Compensation for purposes of determining who is considered a highly compensated employee is a very detailed definition set forth in the Treasury Regulation section 1.415(c)-2(d)(4), and is different from the Eligible Compensation used to determine contributions to this Plan. For example, compensation for purposes of Treasury Regulation section 1.415(c)-2(d)(4) includes income attributable to the vesting of equity awards, such as restricted stock or performance shares, while Eligible Compensation does not. The Participant Contribution Limit, which is adjusted from time to time, is the amount of your before-tax and Roth contributions that are subject to an annual limit imposed by the IRS. In 2025, the Participant Contribution Limit is $23,500. |
Your contribution election must be in 1% increments. These contributions go directly from your Eligible Pay into the Plan and will be placed in either your before-tax sub-account, your Roth sub-account or your after-tax sub-account. In addition, you may make after-tax contributions (but not before-tax contributions) in a lump sum at any time, subject to Plan limits.
Subject to the Participant Contribution Limit, Annual Account Limit, and to the 3% limit (4% limit for Guild-Represented Eligible Employees) on after-tax contributions by highly compensated employees, you can divide the 60% maximum between before-tax, Roth and after-tax contributions. For example, you could choose to contribute 10% of your Eligible Pay and split that 10% into 4% before-tax contributions, 3% Roth contributions and 3% after-tax contributions.
If you reach the Participant Contribution Limit during the year, your before-tax and/or Roth contributions will be automatically discontinued. Ordinarily, deductions from your Eligible Pay for before-tax and/or Roth contributions will resume during the first pay period of the following calendar year under the same terms as your previous payroll instructions, unless you change your election.
The Participant Contribution Limit applies to the amount you contribute on a before-tax and/or Roth basis to all similar plans during the calendar year. If you have contributed to another similar plan in the same year you begin to participate in the Plan, you should monitor your before-tax and/or Roth contributions to the Plan so you do not exceed the Participant Contribution Limit.
If you exceed the Participant Contribution Limit and notify Fidelity at on or before March 1 following the taxable year in which the excess contributions are made, the Plan Administrator will make reasonable efforts to return such excess deferrals, adjusted for earnings, by April 15 of such taxable year.
When you reach the Participant Contribution Limit, you may, subject to the 3% limit (4% limit for Guild-Represented Eligible Employees) on after-tax contributions by highly compensated employees, elect to begin, or to continue to make after-tax contributions, until you reach the Annual Account Limit for the year. Please refer to Changing Your Contributions for more information. If you do change your election to after-tax contributions, you will have to change it back to before-tax and/or Roth contributions in order to make before-tax contributions during the following Plan year.
If your Eligible Pay changes during the year, the dollars contributed to your Plan Account will also change, since your election to contribute is a percentage of your Eligible Pay.
Effect of Being a Multiple Employer Plan |