401(k) Retirement Plan

Liberty offers a 401(k) plan managed by Fidelity Investments. An employee is eligible to participate in the Company 401(k) Plan immediately upon hire if they are at least 20 years old. Eligible employees will be automatically enrolled at a 2.0% salary deferral unless they contact Fidelity Investments to change or stop the deferral. Employees will have 30 days to opt out or change this deferral amount before it becomes effective.

Employees will also have the option of deferring post-tax salary to a Roth plan. Deferral amounts made to this plan are eligible for the employer match. Note – The Roth plan is not subject to the autoenrollment feature and requires an active deferral election initiated by the plan participant.

The current employer match is 35% on the first 4.0% of salary deferred, to the 401k or Roth plan (combined). Employees must work for any Liberty entity for at least one year to begin earning the company match

Former employees who are rehired or new employees hired through acquisition will retain their original date of hire with the acquired location to determine company match eligibility and for vesting purposes.