FAQs – Unify’s 401k Employer Match
Q. What will Unify match on my 401k contributions?
A. Unify will match 50 cents on the dollar (or 50%) of the first 2% of your eligible earnings
contributed to your 401k Savings Plan account each pay period.
Q. How do I set my percentage of contribution to my 401k Savings Plan account?
A. Log in to your account at www.Empower-retirement.com/401kparticipant, or call Empower at
1-888-411-4015, in order to establish you participation percentage.
Q. What earnings are eligible for 401k withholding?
A. Most earning-types are eligible for 401k withholding, including (but not limited to) base pay,
commissions, annual incentives, overtime, on-call pay, shift differential, holiday pay, and paid
time off (or vacation and sick pay). Two notable exceptions are “flex credits” towards your
benefit premiums and “spot” or discretionary bonuses.
Q. Where will I see my earnings, contributions, and employer match on my earnings statement or
pay check stub?
A. Earnings are listed on the upper left portion of your earnings statement or pay check stub.
The various earnings amounts listed add up to the amount entitled “Gross Pay”.
Below earnings under “Additional Deductions” and entitled “*401k EE pretax” would be the
amount withheld from your pay check to be credited to your 401k Savings Plan account.
(Employees over the age of 50 may also have a separate line for “catch-up” contributions.)
The employer match is listed on the upper right portion of your earnings statement or pay check
stub, under “Other Benefits and Information” and entitled “401k Employer”.
Q. How would I calculate my 401k contribution and employer match amounts?
A. Begin with your “Gross Pay” amount for the pay period, which is found at the upper left of
your earnings statement or pay check stub. Subtract any non-401k-eligible earnings amounts
(such as flex credits) to get your 401k-eligible earnings. Multiply your 401k-eligible earnings by
your percentage of participation to get your 401k contribution amount. Calculate your employer
match using the appropriate choice from the following three options:
1. If your percentage of participation is 2% of your earnings or higher, multiply your
401k-eligible earnings by 1% or .01 (50% of 2%) to get your 401k employer match
amount.
2. If your participation percentage is 1% of your earnings, multiply your 401k-eligible
earnings by .5% or .005 (50% of 1%) to get your 401k employer match amount.
3. If your participation percentage is 0%, your 401k contribution and employer match
amounts will be zero ($0.00).
Q. Please provide examples of 401k contribution and employer match calculations.
A. If your Gross Pay is $3,000--including Flex Credits of $100--this pay period, your 401keligible earnings this pay period would be $2,900 ($3,000-$100).
If your percentage of participation is 10% this pay period, your contribution amount would be
$290 ($2,900 x 10%) and your employer match would be $29 ($2,900 x 1%).
If your percentage of participation is 1% this pay period, your contribution amount would be $29
($2,900 x 1%) and your employer match would be $14.50 ($2,900 x .05%).