Whatever you dream of doing during your post-work years, CSL’s retirement savings plan can help turn your dreams into reality. By investing some of what you earn today, you can reach your financial goals tomorrow.
- Contribute via convenient pretax or after-tax (Roth) payroll deductions, up to the IRS contribution limit each year ($22,500 for 2023).
- If you’re age 50 or older during this calendar year and made the maximum contribution to your plan, you can save even more by making an additional catch-up contribution of up to $7,500 (for 2023).
- Save on a pretax or Roth basis. Roth contributions are deducted from your paycheck after taxes are withheld.
- Change or stop your contributions at any time.
- You have the flexibility to select from investment options that range from more conservative to more aggressive, making it easy for you to develop a well-diversified investment portfolio.
- You can roll over eligible savings from a previous employer into this plan. You can also take your plan vested account balance with you if you leave the company.
- You can designate your beneficiaries, receive instant online confirmation, and check your beneficiary information virtually at any time.
How to Enroll
You can enroll online at any time by visiting the Fidelity website, or by calling the Fidelity Retirement Benefits Line at 800-835-5095.
How It Works
CSL’s 401(k) plan allows you to save for your future by helping you boost your retirement savings through company-provided contributions.
All full-time and part-time employees are eligible to join the 401(k) plan from their date of hire. CSL matches 100% on the first 6% of contributions you make to your CSL retirement account. At its discretion, the company may also make an annual non-elective contribution to your account after one year of service, provided you meet these eligibility criteria:
- You're 21 or older on the last day of the plan year
- You have at least 12 continuous months of service during the plan year
- You've completed at least 975 hours of service during the plan year
- You're employed with CSL on the last day of the plan year
Here’s the annual non-elective contribution you’re eligible for, based on your age and years of service:
|If your age + years of service equal…||You get…|
|Under 45||2% of eligible pay|
|45–64||4% of eligible pay|
|65+||6% of eligible pay|
Here’s how it adds up:
6% company match
+ 2%, 4% or 6% annual non-elective employer contribution
= 8%–12% TOTAL in company money put into your 401(k) account each year!
You're always 100% vested in your own contributions and any applicable employer match, and you become 100% vested in the annual non-elective contribution after three years of service.