Regular full time employees are eligible to participate on the first of the month following their hire date. All other employees are eligible to participate upon completion of 1,000 hours in a consecutive 12 month period and are 18 years of age or older. The plan allows employee contributions up to 50% of pay on a pre-tax basis, limited to $20,500 per calendar year (or $27,000 if you are age 50 or older)

You may rollover money from a prior employer’s tax-qualified plan into the Jackson Family Wines 401(k) Plan

Three percent (3%) of your pre-tax pay is automatically contributed to the plan 30 days following your date of eligibility, unless you elect not to contribute. The 3% contribution is automatically invested in a Target Date Fund selected using your estimated retirement year based on your date of birth. If you would like to change or waive the automatic deduction or make elections regarding how you would like your contributions invested

You can contact Vanguard at 1-800-523-1188 or visit vanguard.com/retirementplans.

To make things even easier, the plan offers automatic savings increases to help you set aside more money. Your savings rate will increase 1% every January until you reach 6%. (For employees hired during the last three months of the year, the increase will take effect in the following January.)

You can opt out of the automatic savings increase by contacting Vanguard at 1-800-523-1188 or visiting vanguard.com/retirementplans.

You can access Vanguard’s website generally within two weeks after your hire date. To register for immediate, secure online account access: Click Register for account access on the log on page to sign in. You will need your plan number: 095683.

Note : If you previously had a Vanguard account, or have a Vanguard account for another plan, use your current User ID/Password to access the system and then choose the account you want to access.

You can change your elections and investment options at any time. Your new contribution percentage will take affect within one to two pay-periods after you make your elections.

You can invest your contributions among the index funds or target date funds that offer varying levels of investment risk and return.

Although the plan allows employee contribution up to 50% of your pay on a before-tax basis, your contributions are limited to $20,500 per calendar year (or $27,000 if you are age 50 or older) in 2020.

You may rollover money from a prior employer’s tax qualified plan into the Jackson Family Enterprises 401(k) plan.

Quarterly, the company may make a discretionary match of up to 100% of the first 3% and 50% of the next 2% of compensation you defer into the plan during the quarter, up to a maximum of $5,200 per calendar year. You will be eligible for the company match if you are an employee on the last day of the quarter and have worked a minimum of 250 hours in the quarter.

You are 100% vested in the company match and your deferrals immediately.