A 401(k) is a retirement savings plan established under subsection 401(k) of the Internal Revenue Code.
Union Kitchen’s 401(k) plan is a convenient way for team members to save for their future through pre-tax and/or Roth after-tax payroll deductions.
All Union Kitchen team members who are at least 18 years of age are eligible to join the 401(k) Savings Plan. Team members are eligible to participate immediately upon hire.
Enrollment is paperless through Guideline.com. Enrollment happens automatically when you join the team. If you would like to opt out, simply log on and choose not to participate.
Contributions to 401(k) Savings Plan through traditional pre-tax payroll deductions or Roth 401(k) after-tax payroll deductions are available. With traditional pre-tax contributions your contributions are tax-deferred until they are withdrawn. Roth 401(k) after-tax contributions are taxed now, but if they stay in the plan for five or more years the contributions and associated earnings may be withdrawn in retirement tax-free. Please note that contributions are subject to IRS annual limitations. Team members may contribute up to the IRS dollar limit ($19,500 for calendar year 2021 or $26,000 for calendar year 2021 if 50 years or older).