401(k)

Full-time regular employees are eligible to participate in the 401(k) Plan on the first of the month following the completion of one month of service. Part-time or temporary employees become eligible after completing 1,000 hours of service in the 12-month period following their hire date (or anniversary date).

Enrollment

You will be automatically enrolled for a 3% pre-tax contribution 30 days after becoming eligible for the plan, unless you make an election otherwise. You will receive a welcome notification directly from Fidelity within the first month of employment.

Your Savings

You may make contributions on a pre-tax, Roth and/or after-tax basis of up to 100% (combined) of your eligible earnings, subject to IRS annual maximums (i.e., the annual contribution and compensation maximums).

If you are age 50 or older, you are eligible to make an additional “catch-up” contribution on a pre-tax and/or Roth basis subject to the IRS annual maximum.

Company Matching Contribution

For employees hired prior to January 1, 2012:
50% of the first 6% of eligible compensation (3% maximum match)

For employees hired after December 31, 2011:
83-1/3% of the first 6% of eligible compensation (5% maximum match)

Company Profit Sharing Contribution

For employees hired after December 31, 2011, the Company will make an annual profit sharing contribution of 5% of your eligible compensation.
Note: You are not required to contribute to the 401(k) Plan to receive any profit sharing contribution. You must be employed* at the end of the calendar year to receive the profit sharing contribution for that year.

*Or terminated employment after age 65 or on account of death or disability

Vesting

 

You are always 100% vested in the value of your contribution. Company contributions vest as follows:

  • Less than one year of service - 0%

  • One but less than 2 years of service - 30%

  • 2 but less than 3 years of service - 50%

  • 3 or more years of service - 100%

 

Rollovers

 

You can roll-over funds from another qualified plan or IRA into the Savings Plan for Employees of Pernod Ricard USA, LLC at any time.

 

Loans

 

You can borrow a minimum of $1,000 and up to 50% of your vested account balance from the Plan (up to $50,000) without paying taxes. You pay yourself back, with interest. The payments go back into your 401(k) Plan account.