401(k) Retirement

When it comes to 401(k) savings, the contributions that you make are deducted from your paycheck each pay period.

• You can contribute between 1% and 75% of your eligible pay (up to the IRS annual limits).
• You may change your contribution amount(s) at any time.

Eligible employees have two contribution options. You can choose one, or the other, or both.

Contribution Option	Traditional Pre-Tax	Roth After-Tax
Source of Funds	Contributions are made with money from your paycheck before it gets taxed.	Contributions are made with money from your paycheck after it gets taxed.
Tax Status*	Pre-tax contributions offer an upfront tax break on your current adjusted gross income. You will have to pay taxes on withdrawals, including any earnings, as ordinary income.*	Roth contributions offer a tax advantage later, meaning possibly more money in retirement. You won’t have to pay taxes on qualified withdrawals, including earnings.*

NOTE: If you take a traditional and/or Roth withdrawal before age 59 ½, the distribution is taxable.*

* Distributions from the plan are subject to IRS and 401(k) Plan rules, all references to taxes are Federal taxes only. State taxes laws vary.

401(k) Catch-Up Contributions
Employees age 50 or older are also eligible to make additional “catch-up” contributions as determined by the IRS. If you have access to both a traditional 401(k) and a Roth 401(k), you can contribute up to the annual IRS maximum across both accounts combined.

While giving you the opportunity to build a retirement nest egg, Lennox also contributes a Company-match to your 401(k) retirement account – it’s free money towards your future!

Hourly Employees

• Company-Paid Match: Lennox will match a portion of the pay you contribute starting as soon as your pre-tax and/or Roth 401(k) employee contributions begin.* Contact Fidelity Investments for more information regarding your hourly-basis matching contributions.

Salary Employees

• Company-Paid Match: Lennox matches 50% for your contributions, up to 6% of your eligible pay, starting as soon as your pre-tax and/or Roth 401(k) employee contributions begin.*
• Company-Paid Base Contribution: Lennox will also make a base contribution of 3% of your eligible pay to your 401(k). This contribution begins the first of the month after you complete one year of service.

* Lennox’s Company-paid contribution(s) and any associated earnings are not taxable until you withdraw them from the plan.

Luckily, you don’t have to be an expert to invest your retirement savings.

Fidelity Investments offers a variety of funds based on an expected retirement date, risk tolerance, and time horizon. If you need more personalized attention, or are navigating a complex financial situation, schedule a 1-on-1 planning appointment with a dedicated Fidelity advisor. Learn more about Fidelity’s Investment Centers.

If you don’t make an investment election, all your 401(k) contributions will be invested in the default target date fund. Your funds will remain there until you elect to move your investments to one or more of the other investments available under the plan.

Vesting refers to ownership of accrued contributions and earnings in the plan. Your employee contributions are always immediately 100% vested.

For information about the vesting of Lennox’s matching contributions, contact Fidelity Investments at (866) 783-5225.

Keeping up-to-date beneficiary information is easy to do and only takes a few minutes. Most importantly, you can feel confident that your loved ones will receive the assets you intend for them to have.

How To Get Started

You’ll need to assign at least one beneficiary for each account. Remember to tell your family or friends if you’ve selected them as a beneficiary.

To add, change, or remove beneficiaries:

• Log into your Fidelity NetBenefits account
  OR
• Call Fidelity directly at (866) 783-5225, and have the following information ready:
  • Beneficiary type (e.g., spouse, non-spouse, trust, entity)
  • Full name
  • Date of birth
  • Social security number (optional)

NOTE: Your life insurance beneficiary may not be the same as your 401(k) retirement plan beneficiary.

It’s never too early to start planning ahead — and Fidelity is ready to help you every step of the way!

Access a variety of interactive tools and resources to help you prepare for, transition to, and live in retirement by visiting the Retirement Life Events page in your Fidelity NetBenefits account.

You can also watch Preparing for Retirement panel discussions on Fidelity’s Webcast Hub to learn more about a wide range of financial topics — anytime, anywhere. No login is required to access these free on-demand webcasts.

Here is a sneak peek into the latest Healthcare in Retirement webcasts: Making Sense of Medicare and Building Your Bridge to Medicare.