An extra 1% today could result in a more comfortable retirement tomorrow.Give your future self a financial boost.
Maximize your 401(k) savings by contributing enough to receive the Lennox Company-paid match, which is essentially FREE money towards your retirement.
| Traditional (Pre-Tax) |
Roth (After-Tax) |
Company-Paid Match | |
| Source of Funds | Elected contribution taken before taxes from your paycheck. | Elected contribution taken after taxes from your paycheck. | Lennox matches a portion of your eligible pre-tax contributions. |
| Are contributions taxed when made? | No | Yes | No |
| Are contributions taxed when distributed? | Yes | No | Yes |
| Are earnings taxed when distributed? | Yes | No | Yes |
*Withdrawals from your pre-tax and/or Roth 401(k) before age 59 ½ are taxable. Distributions are subject to IRS and Lennox 401(k) Plan rules. Tax references are only for federal taxes. State tax laws vary. Visit irs.gov for details.
How much should you be saving?
Each person’s financial journey is different. The key is to find a balance that works for you – whether that means putting away an extra $10 or $100 every month.
Keep these factors in mind as you budget your per paycheck 401(k) contribution…
- Your target retirement age,
- Your current financial situation, and
- Your career and lifestyle changes.
You don’t have to plan for retirement alone.
A targeted 401(k) investment strategy will help you grow your nest egg, give you tax breaks, and increase your earnings. You can simplify financial planning with the help of a licensed Fidelity adviser.
All Lennox employees are eligible to schedule FREE confidential 1-on-1 consultations year-round.
- Call Fidelity directly at (877) 902-0007,
- Visit a local Fidelity Investor Center, or
- Attend a Fidelity-hosted onsite workshop at Lennox.
