{"id":326,"date":"2024-06-05T17:14:44","date_gmt":"2024-06-05T17:14:44","guid":{"rendered":"https:\/\/mdlzbmr.com\/clifhourlybakery\/?page_id=326"},"modified":"2026-02-17T19:07:25","modified_gmt":"2026-02-17T19:07:25","slug":"401k-savings-plan","status":"publish","type":"page","link":"https:\/\/mdlzbmr.com\/clifhourlybakery\/401k-savings-plan\/","title":{"rendered":"401(k) Savings Plan"},"content":{"rendered":"\n\n\t\t<h2>401(k) Savings Plan<\/h2>\t\n<h2>\n\t\t\tThe 401(k) Savings Plan Helps You Prepare Financially for Your Future\t<\/h2>\n\t<p>The 401(k) Savings Plan, serviced by Fidelity Investments,<sup>\u00ae<\/sup> is a long-term savings vehicle for retirement. You can make personal contributions, and MDLZ makes Company contributions to your account too.<\/p>\n\t<style>#sp-ea-361 .spcollapsing { height: 0; overflow: hidden; transition-property: height;transition-duration: 300ms;}#sp-ea-361.sp-easy-accordion>.sp-ea-single {margin-bottom: 10px; border: 1px solid #e2e2e2; }#sp-ea-361.sp-easy-accordion>.sp-ea-single>.ea-header a {color: #ffffff;}#sp-ea-361.sp-easy-accordion>.sp-ea-single>.sp-collapse>.ea-body {background: #fff; color: #444;}#sp-ea-361.sp-easy-accordion>.sp-ea-single {background: #eee;}#sp-ea-361.sp-easy-accordion>.sp-ea-single>.ea-header a .ea-expand-icon { float: left; color: #ffffff;font-size: 16px;}<\/style><div id=\"sp_easy_accordion-1717613806\"><div id=\"sp-ea-361\" class=\"sp-ea-one sp-easy-accordion\" data-ea-active=\"ea-click\" data-ea-mode=\"vertical\" data-preloader=\"\" data-scroll-active-item=\"\" data-offset-to-scroll=\"0\"><div class=\"ea-card sp-ea-single\"><h3 class=\"ea-header\"><a class=\"collapsed\" id=\"ea-header-3610\" role=\"button\" data-sptoggle=\"spcollapse\" data-sptarget=\"#collapse3610\" aria-controls=\"collapse3610\" href=\"#\" aria-expanded=\"false\" tabindex=\"0\"><i aria-hidden=\"true\" role=\"presentation\" class=\"ea-expand-icon eap-icon-ea-expand-plus\"><\/i> Your contributions<\/a><\/h3><div class=\"sp-collapse spcollapse spcollapse\" id=\"collapse3610\" role=\"region\" aria-labelledby=\"ea-header-3610\"> <div class=\"ea-body\"><p><span class=\"green-text\"><strong>Generally, you may contribute from 1% to 50% of your eligible pay<\/strong><\/span> on a before-tax and\/or after-tax basis (your contributions will be capped at 15% if you\u2019re otherwise considered a highly compensated employee). Contributions may also be made as Roth, which are after-tax contributions, but their earnings are tax-free. The sum of your before-tax and Roth contributions can\u2019t exceed the $24,500 annual IRS limit for 2026.<\/p><p>If you\u2019ll be age 50 or older in 2026, you can make additional before-tax and\/or Roth catch-up contributions\u2014up to the $8,000 IRS limit for 2026 (this is in addition to the $24,500 before-tax\/Roth annual IRS limit). A few additional things to keep in mind about catch-up contributions:<\/p><ul><li>If you earned <em>more than <\/em>$150,000 in FICA wages for the 2025 calendar year, you can make catch-up contributions\u2014but only on an after-tax Roth basis.<\/li><li>If you\u2019ll be age 60, 61, 62, or 63 at the end of 2026, you can make catch-up contributions up to a higher catch-up limit\u2014for 2026 the higher catch-up limit is $11,250 (instead of $8,000).<\/li><\/ul><p>You can change your contribution percentage at any time, and you\u2019re 100% vested in your own contributions immediately.<\/p><p><span class=\"green-text\"><strong>If you\u2019re a new hire, be sure to consider any contributions you made to another employer\u2019s 401(k) plan<\/strong><\/span> this year. This will help ensure you don\u2019t exceed the IRS contribution limits for the calendar year.<\/p><\/div><\/div><\/div><div class=\"ea-card sp-ea-single\"><h3 class=\"ea-header\"><a class=\"collapsed\" id=\"ea-header-3611\" role=\"button\" data-sptoggle=\"spcollapse\" data-sptarget=\"#collapse3611\" aria-controls=\"collapse3611\" href=\"#\" aria-expanded=\"false\" tabindex=\"0\"><i aria-hidden=\"true\" role=\"presentation\" class=\"ea-expand-icon eap-icon-ea-expand-plus\"><\/i> Company contributions<\/a><\/h3><div class=\"sp-collapse spcollapse spcollapse\" id=\"collapse3611\" role=\"region\" aria-labelledby=\"ea-header-3611\"> <div class=\"ea-body\"><h4 class=\"green-text\"><strong>Two types of Company contributions<\/strong><\/h4><ul><li><span class=\"green-text\"><strong>Company basic contributions: <\/strong><\/span>MDLZ makes a Company basic contribution of <strong>4.5%<\/strong> of your eligible pay each payroll period, regardless of whether you contribute.<\/li><li><span class=\"green-text\"><strong>Company matching contributions:<\/strong><\/span> MDLZ makes a Company matching contribution of up to an additional <strong>4.5%<\/strong> of your eligible pay as follows:<ul><li>$1 for $1 match on the first 1% of eligible pay you contribute; and<\/li><li>70\u00a2 for every $1 on the next 5% of eligible pay you contribute.<\/li><\/ul><\/li><\/ul><p>You become fully vested in Company basic contributions and Company matching contributions after two years of service (including your service with Clif Bar). When you\u2019re contributing at least 6%, that adds up to a total of 9% in Company contributions!<\/p><\/div><\/div><\/div><div class=\"ea-card sp-ea-single\"><h3 class=\"ea-header\"><a class=\"collapsed\" id=\"ea-header-3612\" role=\"button\" data-sptoggle=\"spcollapse\" data-sptarget=\"#collapse3612\" aria-controls=\"collapse3612\" href=\"#\" aria-expanded=\"false\" tabindex=\"0\"><i aria-hidden=\"true\" role=\"presentation\" class=\"ea-expand-icon eap-icon-ea-expand-plus\"><\/i> HOW YOUR CONTRIBUTIONS AND COMPANY CONTRIBUTIONS ADD UP<\/a><\/h3><div class=\"sp-collapse spcollapse spcollapse\" id=\"collapse3612\" role=\"region\" aria-labelledby=\"ea-header-3612\"> <div class=\"ea-body\"><p>Contributing as much as you can to the 401(k) Savings Plan and taking full advantage of Company matching contributions can support your financial well-being and help prepare you financially for the future. Consider how the contributions might add up for you:<\/p><p><img decoding=\"async\" style=\"width: 75%\" src=\"https:\/\/mdlzbmr.com\/clifhourlybakery\/wp-content\/uploads\/sites\/4\/2024\/08\/401k-graphic.png\" alt=\"401(k) Contribution chart\" \/><\/p><p>You can contribute even more to achieve higher savings.<\/p><\/div><\/div><\/div><div class=\"ea-card sp-ea-single\"><h3 class=\"ea-header\"><a class=\"collapsed\" id=\"ea-header-3613\" role=\"button\" data-sptoggle=\"spcollapse\" data-sptarget=\"#collapse3613\" aria-controls=\"collapse3613\" href=\"#\" aria-expanded=\"false\" tabindex=\"0\"><i aria-hidden=\"true\" role=\"presentation\" class=\"ea-expand-icon eap-icon-ea-expand-plus\"><\/i> Your options<\/a><\/h3><div class=\"sp-collapse spcollapse spcollapse\" id=\"collapse3613\" role=\"region\" aria-labelledby=\"ea-header-3613\"> <div class=\"ea-body\"><p class=\"green-text\" style=\"font-weight: bold\">Consider your options before making your 401(k) Savings Plan elections<\/p><ul><li class=\"sc-yMzcK NhfQP\" data-testid=\"ripley-core__text-item__unordered-list-item__component\" data-foleon-id=\"82305118-0c3a-4086-8268-f0107ae2c7eb\"><span class=\"sc-eoseld emjcVe\">Decide whether before-tax contributions, Roth contributions, and\/or after-tax contributions make the most sense for you. <\/span><\/li><li class=\"sc-yMzcK NhfQP\" data-testid=\"ripley-core__text-item__unordered-list-item__component\" data-foleon-id=\"3051180c-3af0-4602-a8f0-107ae2c7eb82\"><span class=\"sc-eoseld emjcVe\">Decide how much to contribute. Maximize the Company matching contribution by contributing at least 6% of your eligible pay.<\/span><\/li><li class=\"sc-yMzcK gqTyjQ\" data-testid=\"ripley-core__text-item__unordered-list-item__component\" data-foleon-id=\"51180c3a-f086-4268-b010-7ae2c7eb828f\">Make your investment elections. You can choose from a variety of investment options based on your financial goals and risk tolerance.<\/li><li class=\"sc-yMzcK gqTyjQ\" data-testid=\"ripley-core__text-item__unordered-list-item__component\" data-foleon-id=\"51180c3a-f086-4268-b010-7ae2c7eb828f\">If you don\u2019t make an active election, automatic enrollment (including the default investment fund) applies.<\/li><li data-testid=\"ripley-core__text-item__unordered-list-item__component\" data-foleon-id=\"51180c3a-f086-4268-b010-7ae2c7eb828f\">You can change your contribution and investment elections at any time.<\/li><\/ul><p class=\"sc-yMzcK FvoIs\" data-testid=\"ripley-core__text-item__paragraph__component\" data-foleon-id=\"180c3af0-8602-48f0-907a-e2c7eb828f09\"><span class=\"sc-eoseld emjcVe\">If you\u2019d like help with any of these decisions, support is available from Fidelity. Call the Mondel\u0113z International Retirement and Savings Plan Center.<\/span><\/p><\/div><\/div><\/div><div class=\"ea-card sp-ea-single\"><h3 class=\"ea-header\"><a class=\"collapsed\" id=\"ea-header-3614\" role=\"button\" data-sptoggle=\"spcollapse\" data-sptarget=\"#collapse3614\" aria-controls=\"collapse3614\" href=\"#\" aria-expanded=\"false\" tabindex=\"0\"><i aria-hidden=\"true\" role=\"presentation\" class=\"ea-expand-icon eap-icon-ea-expand-plus\"><\/i> Contact info &amp; apps<\/a><\/h3><div class=\"sp-collapse spcollapse spcollapse\" id=\"collapse3614\" role=\"region\" aria-labelledby=\"ea-header-3614\"> <div class=\"ea-body\"><p><span class=\"green-text\"><strong>Mondel\u0113z International Retirement and Savings Plan Center<\/strong><\/span><\/p><ul><li><a href=\"https:\/\/netbenefits.com\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">NetBenefits Website<\/a><\/li><li>Phone:\u00a0<a href=\"tel:18666124582\">1-866-612-4582<\/a><\/li><li>Planning &amp; Advice Center:\u00a0<a href=\"tel:18666124582\">1-866-612-4582<\/a><\/li><li>Mobile App:\u00a0<a href=\"https:\/\/apps.apple.com\/us\/app\/fidelity-investments\/id348177453\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">APPLE APP STORE<\/a>\u00a0|\u00a0<a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.fidelity.android\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">GOOGLE PLAY STORE<\/a><\/li><\/ul><p>________________________<\/p><p class=\"green-text\"><strong>Use the Mondel\u0113z International Retirement and Savings Plan Center to:<\/strong><\/p><div class=\"callout wide\"><ul><li>Manage the contributions you make to your account.<\/li><li>Change your investment elections for future contributions you make to your account.<\/li><li>Change your investment elections for your current account balance.<\/li><li>Request a loan or a withdrawal.<\/li><li>Request a rollover.<\/li><li>Learn about an investment option\u2019s performance, and other relative information.<\/li><li>Look up your account\u2019s history of transactions.<\/li><li>Obtain an account statement.<\/li><li>Obtain 401(k) Savings Plan information and relative documents, including prospectus materials.<\/li><li>Enroll in Fidelity Personalized Planning &amp; Advice, which is Fidelity\u2019s managed account services. With Fidelity Personalized Planning &amp; Advice, Fidelity makes all 401(k) Savings Plan investment decisions for you for a fee.<\/li><\/ul><\/div><\/div><\/div><\/div><\/div><\/div>\n\t<h2><strong>Automatic enrollment<\/strong><\/h2>\n<ul>\n<li>If you don&#8217;t make an active contribution election <strong>within 30 days of your eligibility date<\/strong>, you&#8217;ll automatically be enrolled at a 3% before-tax employee contribution rate.<\/li>\n<li>The 401(k) Savings Plan&#8217;s default investment fund will apply to your contributions (as well as to the Company basic and Company matching contributions).<\/li>\n<li>Your contributions will increase 1% on April 1 of each year, until your before-tax contribution rate reaches 10% (this automatic increase is also referred to as auto escalation).<\/li>\n<li>You can opt out of auto escalation, increase, or decrease your contribution rate; and\/or change your investment elections via the <strong><a href=\"https:\/\/nb.fidelity.com\/public\/nb\/mondelez\/home\" target=\"_blank\" rel=\"noopener\">NetBenefits website<\/a><\/strong>\u00a0at any time.<\/li>\n<\/ul>\n\t<p><em>The 401(k) Savings Plan is intended to be a participant-directed plan as described in Section 404(c) of ERISA, which means that fiduciaries of the 401(k) Savings Plan are ordinarily relieved of liability for any losses that are the direct and necessary result of investment instructions given by a participant or beneficiary.<\/em><\/p>\n\t\t\t\t<img decoding=\"async\" src=\"https:\/\/mdlzbmr.com\/clifhourlybakery\/wp-content\/uploads\/sites\/4\/2024\/06\/401k-Icon.png?_t=1717614440\" alt=\"401k-Icon\" itemprop=\"image\" title=\"401k-Icon\" onerror=\"this.style.display='none'\" loading='lazy' \/>\n\t<h2>Looking for more details?<\/h2>\n<p>You can access 401(k) Savings Plan Information via the <a href=\"http:\/\/netbenefits.com\" target=\"_blank\" rel=\"noopener\">NetBenefits website<\/a>. You can also call the Mondel\u0113z International Retirement and Savings Plan Center at <a href=\"tel:18666124582\">1-866-612-4582<\/a> with questions (representatives are available Monday through Friday, 7:30 a.m. to 7:30 p.m. Central Time).<\/p>\n\n","protected":false},"excerpt":{"rendered":"<div class=\"entry-summary\">\n<div class=\"entry-summary\">\n401(k) Savings Plan The 401(k) Savings Plan Helps You Prepare Financially for&hellip;\n<\/div>\n<div class=\"link-more\"><a href=\"https:\/\/mdlzbmr.com\/clifhourlybakery\/401k-savings-plan\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &ldquo;401(k) Savings Plan&rdquo;<\/span>&hellip;<\/a><\/div>\n<\/div>\n<div class=\"link-more\"><a href=\"https:\/\/mdlzbmr.com\/clifhourlybakery\/401k-savings-plan\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &ldquo;401(k) Savings Plan&rdquo;<\/span>&hellip;<\/a><\/div>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-template\/_fullwidth.php","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"class_list":["post-326","page","type-page","status-publish","hentry","entry"],"acf":[],"_links":{"self":[{"href":"https:\/\/mdlzbmr.com\/clifhourlybakery\/wp-json\/wp\/v2\/pages\/326","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mdlzbmr.com\/clifhourlybakery\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/mdlzbmr.com\/clifhourlybakery\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/mdlzbmr.com\/clifhourlybakery\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mdlzbmr.com\/clifhourlybakery\/wp-json\/wp\/v2\/comments?post=326"}],"version-history":[{"count":23,"href":"https:\/\/mdlzbmr.com\/clifhourlybakery\/wp-json\/wp\/v2\/pages\/326\/revisions"}],"predecessor-version":[{"id":2235,"href":"https:\/\/mdlzbmr.com\/clifhourlybakery\/wp-json\/wp\/v2\/pages\/326\/revisions\/2235"}],"wp:attachment":[{"href":"https:\/\/mdlzbmr.com\/clifhourlybakery\/wp-json\/wp\/v2\/media?parent=326"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}