Retirement

What does retirement look like for you? Maybe you plan to travel the world. Or maybe you’d like to take up some hobbies closer to home. Whatever your goal, it’s important to plan for your own finances so you have the income you’ll need in the future.

One of the best ways to ensure a secure retirement is to start saving as early as possible. Our 401(k) savings plan allows you to save for retirement on a pretax basis. You can begin contributing to the plan at any time once you become eligible and can start making contributions to your account through convenient payroll deductions.

Changes to your 401(k) plan begin January 1, 2027

You’ll need to choose your contribution amount

Automatic enrollment will end on December 31, 2026. On January 1, 2027, you will have to elect your own contribution amount. This applies to both new participants and people who are already in the plan. To have money taken from your paycheck, make an active contribution election through the Fidelity website, mobile app, or call center. You can choose a percentage of your pay or a dollar amount.

If you do not make an election, no contributions will be taken from your paycheck.

2027 contribution limits

You may elect to contribute up to the IRS limit for the 2027 plan year, subject to the plan’s terms. The IRS has not announced the 2027 limits yet.

How the employer Safe Harbor match works

Starting January 1, 2027, the employer will make a Safe Harbor match on your contributions each pay period:

The employer matches each dollar you contribute on the first 3% of your pay.
The employer matches 50 cents for each dollar you contribute on the next 2% of your pay.
If you contribute 5% of your pay, the employer contributes a match equal to 4% of your pay.
You can contribute more than 5% up to the 2027 Contributions limits the IRS sets, but you are only matched on the first 5%.

Your own contributions and the Safe Harbor match are 100% vested right away. That means the money is yours, even if you leave the company.

Who is Eligible for the 401(k)?

All US-based employees over the age of 18 are eligible to participate in the company’s retirement savings plan on the 1st of the month following 3 consecutive months of service.

How Do I Enroll in the 401(k)?

You will be automatically enrolled at 3% of your eligible earnings per pay period and invested in the Plan’s default investment option.

Get Ready for the 401(k) Move to Fidelity

The New Match is a Safe Harbor Match Starting January 1!

If you put in 5%, LES will put in 4%!
It’s matched every payroll period AND
You’re 100% vested in the Safe Harbor Match as well as what you put in it!

Blackout begins November 24, 2026, through January 3, 2027

During this time, you will not be able to access your account at John Hancock or Fidelity.
Your current investment elections will be mapped over to like funds. If you want to change how you’re invested currently, you will need to do that prior to November 24.
You will need to elect how your future contributions will be invested. If you do nothing, future contributions will go into the default Target Date Fund.

Once your plan is live at Fidelity, you can enroll, make changes to your investments and contributions online, on the mobile app, or through their call center.

- www.netbenefits.com
- 800-587-5282 – with live licensed advisors
- If you already have a Fidelity account, the 401(k) plan will show up with your other accounts once it’s out of blackout, and so will the Fidelity HSA if you chose it.