401(k) Retirement Accounts
About the Plans
Planning for your future is an important part of financial well-being. Odyssey offers employees a 401(k) plan through Fidelity Investments. The plan allows eligible employees (age 21 and over) to save for retirement by making contributions to your account via a Traditional 401(k) or Roth 401(k) or both. All contributions, employee deferrals and Odyssey match, are immediately vested.
Odyssey currently matches 40% of your total contribution on up to 10% of eligible wages, calculated on a per pay period basis. All matching contributions are pre-tax, regardless of the contribution type (Traditional vs Roth).
For employees over the age of 50 or turning 50 this calendar year, the IRS allows you to make catch-up contributions at higher contribution limits. For example: the 2022 annual 401(k) contribution limit for those under age 50 is $20,500. But for those 50 years of age and older, IRS regulation permits an additional $6,500 “catch-up” for a total of $27,000 for any combination of Roth or Traditional 401(k) contributions.
Review the linked Plan Documents & Summaries to learn more.
Plan Documents & Summaries
GChat: Lisa Wilkinson