Retirement
The 401(k) Plan is designed to provide employees the opportunity to enjoy the benefits of tax-deferred savings and investments. The purpose of the plan is to enable eligible employees to save for retirement.
Employee Contributions
You may contribute up to 75% of eligible compensation up to the annual IRS contribution limit ($24,500 in 2026) to your 401(k) Plan. You have the option of contributing to your account with traditional pre-tax contributions or with Roth after-tax contributions. The difference between these two options is when you pay taxes. With a traditional 401(k) your contributions are made pre-tax and you pay taxes when you withdraw money. With the Roth option, you pay the taxes upfront but pay no taxes when you withdraw. You also have the option to contribute up to 30% to a regular after tax source. You can change your contribution percentage anytime by logging on to the 401(k) portal.
Rollover Contributions
You may roll over distributions that you receive from an eligible retirement plan into this plan. An eligible retirement plan is a qualified plan under Section 401(a) as a 403(a) annuity plan, a 403(b) annuity contract, an eligible 457(b) plan maintained by a governmental employer, or an individual retirement account and individual retirement annuity.
Company Matching Contributions
When you participate in the plan, the company helps your savings grow by making an additional contribution on your behalf. The company matches 50% of the first 6% of eligible compensation you contribute on a pre-tax and Roth basis. For example, when you contribute 6% or more, the company will match a maximum of 3%. The employer match is determined and contributed with each paycheck, while a “true up” will be conducted in instances where employee contribution changes and/or payroll adjustments cause a surplus/deficit of matching contributions. No match will be provided on the regular after-tax source.
Who is Eligible for the 401(k)?
New hires will be automatically enrolled at a contribution rate of 5% after 30 days from the date of hire. If you choose not to participate you must change your contribution rate to 0%. You are not eligible to participate in the plan if your job position at the company is classified as a consultant, independent contractor, leased employee, or intern.
Account Access
Information about your account is available virtually 24 hours a day by logging onto the 401(k) portal.
- For first-time access: Go to Empower’s 401(k) portal and select “Register”
- Choose the “I do not have a PIN tab”
- Follow the prompts to create a username and password
Contact Empower at (800) 338-4015
Monday – Friday, 8 am to 10 pm EST
Saturday, 9 am to 5:30 pm EST
Automated system available 24 hours a day, seven days a week (requires a password)
This information simply highlights SUSE 401(k) plan. As such, it does not replace the official plan document or summary plan description which govern in all cases.
Vesting
Vesting is a term used to describe the portion of your account balance that you are entitled to under the plan’s rules. You are always 100% vested in your contributions to the plan and any earnings on that money. You become vested in company matching contributions and their earnings according to the following vesting schedule:
33 1/3%—after 1 year of service
66 2/3%—after 2 years of service
100%—after 3 years of service
Withdrawals
Withdrawals from the plan are generally permitted when you terminate employment, retire, reach 59 ½, become permanently disabled, or have severe financial hardship as defined by the plan.
Investment Exchanges
You may transfer (exchange) from one investment option to another as often as you like, whenever you like. Simply do it online. For information on investment options, please visit the 401(k) portal.
Loans
You can request a loan from your account balance for any reason. To request a loan, contact the 401(k) vendor. The loan must be a minimum of $1,000. You may have only one loan at a time, totaling up to 50% of your vested account balance or $50,000, minus the highest outstanding loan balance over the past 12 months, whichever is less. Any outstanding loan balances will reduce the amount available for you to borrow. You repay the loans with after-tax dollars through payroll deduction. If you terminate employment with the company, any outstanding loans must be paid in full. Otherwise, the loan will be in default and the outstanding balance will be treated as a withdrawal from your account.