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 21 years of age and have worked at Union Kitchen for 12-months and at least 1000 hours during that time are eligible to join the 401(k) Savings Plan.
Enrollment is paperless. On the day you become eligible, you will receive an email asking if you'd like to enroll. Please note that you are not automatically enrolled.
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 With traditional pre-tax contributions your contributions are tax-deferred until they are withdrawn.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are taxed now, but if they stay in the plan for five or more years the contributions and associated earnings may be withdrawn in retirement tax-free.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.