401k – Profit Sharing Plan

ARS 401k/Profit Sharing Plan (401k – Profit Sharing Plan)

The 401k/Profit Sharing Plan is administered by Vanguard. The IRS has issued rules for both personal contribution limits and the total that can be contributed from the company and the participant combined. For 2024, the individual limit is $23,000 (plus a $7,500 catch-up amount if you are age 50 or older) and a total overall contribution limit of $69,000 (plus a $6,500 catch-up amount if you are age 50 or older).

Employees of ARS/STARS are eligible to begin contributing to the plan on the 1st day of the month following 90 days of employment. Participants will receive an e-mail from Vanguard inviting them to click on a link and register for an on-line account. Employees are eligible for profit sharing contributions on the 1st day of the month following one year of employment.

Full time physicians may not be allowed to contribute depending on the amount of the company contribution. ARS issues the profit sharing contributions approximately 4-5 weeks after the end of each quarter.

Vesting Schedule:

2 years of employment- 34% vested
3 years of employment- 67% vested
4 years of employment- 100% vested

The Vanguard plan contains both a core plan that is closely managed by an ARS committee, and a self-directed option.

Registration Instructions – Register for Vanguard.com
You can manage your account by logging into Vanguard.com. Choose retirement account and then enter your user name and password, or click register if you have not done so previously.

You may rollover balances from other plans if you choose. Use this Rollover Flyer for guidance on how to get started.

From the Vanguard website you can:

• Change your contribution (the amount you choose will come out of every check including bonuses)
• Change your investments
• Request a loan or other allowed distribution
• Access beneficial tools to help you make decisions

The plan number is 092856. You can contact participant services at 800.523.1188 with any questions or if you have trouble logging in.