Chris CarterSodexo Live! non-Union employees (age 21 and older) can participate immediately in the Sodexo 401(k) plan administered by Voya. Employees can enroll or change elections at any time. *Sodexo Live! employees are not automatically enrolled in the plan (despite what any materials may say).
The company will match $0.50 on the $1.00, up to 6% of (gross) pay. An employee may contribute up to 50% of pay, but anything above 6% is unmatched by the company.
Employees are fully vested and will retain the company match after 3 years of service.
- Whenever an employee is hired, terminated, and rehired, any prior service time will also be taken into account for the 3 year service time calculation.
To sign up for the 401(k) plan, employees can visit www.MySodexoSavingsPlan.com or contact Voya at (866)769-7526 to do so.
Additionally, you can access the 401(k) enrollment brochure here: Sodexo 401(k) Enrollment Brochure
Regarding 401(k) paycheck deduction descriptions:
401K = 401(k) contributions up to 6% of your pay. These are pre-tax 401(k) contributions.
401KPTSU = 401(k) contributions above 6% of your pay. These are pre-tax 401(k) contributions.
401K ER = Employer contributions to your 401(k).
401KROTH = 401(k) contributions up to 6% of your pay. These are post-tax 401(k) contributions.
401KRTHC = 401(k) contributions above 6% of your pay. These are post-tax 401(k) contributions.
401KRHER = Employer contributions to your 401(k).
For example, if you were contributing 10% of your pay towards 401(k), your 401K deduction would be 6% of your pay and your 401KPTSU deduction would be 4% of your pay (for a total of a 10% contribution).