When can I enroll in the 401(k) plan?
You are eligible to enroll as soon as administratively practicable (generally after your first paycheck) and salary deductions will begin within 1-2 pay periods of enrolling in the plan.
To enroll, contact Fidelity at www.401k.com or call 800-742-4015.
How much can I contribute to my 401(k)?
Through automatic payroll deduction, you may contribute between 1% and 75% of your eligible contributions.
If you have reached age 50 or will reach 50 during the calendar year January 1 – December 31 and are making the maximum plan or IRS contribution, you may make an additional catch-up contribution each pay period.
You can change your contribution amount by calling Fidelity at 800-742-4015 or by accessing your account at www.401k.com.
Does the Company contribute to my 401(k) account?
Yes! EssilorLuxottica will match your contributions at a rate of dollar for dollar up to 6% of your eligible compensation each quarter. To be eligible for matching contributions, employees must be at least age 21 and have one year of service with at least 1,000 hours worked.
What are my investment options in the 401(k) plan?
To help you meet your investment goals, the Plan offers you a range of options. A complete description of the Plan’s investment options and their performance, as well as planning tools to help you choose an appropriate mix, are available online at www.401k.com.
When am I vested in the 401(k) plan?
You are always immediately 100% vested in your own contributions and any employer contributions to your Plan.
Can I take a loan from my 401(k) account?
Although your plan account is intended for the future, you may borrow from your account for any reason. Generally, the Plan allows you to borrow up to 50% of your vested account balance (minimum loan is $1,000; maximum loan is $50,000). You can have a maximum of 2 loans outstanding at any one time.
How do I view my 401(k) balance?
You can view your account balance, make changes to your salary deferral election, investment elections and update your beneficiary at www.401k.com.
Can I rollover a former employer’s 401(k) into the EssilorLuxottica 401(k) plan?
Yes, if you have a balance in a former employer’s retirement plan you can consolidate your assets in the EssilorLuxottica 401(k) Savings Plan. Keeping your retirement savings in a single plan can help simplify performance tracking, provide greater convenience in making investment changes, and minimize paperwork. To make a Rollover Contribution, either call Fidelity’s Investments Information Line at 1-800-742-4015 or log on to Fidelity’s website at www.401k.com and follow the instructions.