Make the Most of This Important Benefit
New participants are automatically enrolled at 7% deferral rate (subject to the annual limit set by the Internal Revenue Service). All participants deferring between 1% and 9% will have their deferral rate increased by 1% annually with the “Auto Increase” feature until 10% deferral is reached. You may change your deferral rate, investment choices, or opt out of the automatic enrollment at any time.
If eligible, Eastman matches 50% of every dollar you contribute through your deferral, up to 7%. Contribute enough to receive the company match if you are eligible.
The Internal Revenue Service sets limits on your contributions each year.
|Less Than 50 Years Old|
|2020 IRS Limit||$19,500|
|50 Years or Older|
*Includes $6,000 catch-up contribution