Page 7 - Latham & Watkins 401(k) Savings and Profit Sharing Plan

Automatic Savings Increase
Rollovers
If you have an account in a qualified retirement plan with a previous employer, there may be several options available to help you manage an additional retirement account. For more information about your options, call Participant Services at +1.800.724.7526 from 7 a.m. to 11 p.m. ET, Monday through Friday, or go to workplace.schwab.com.
If you are interested in rolling over a previous employer qualified retirement account into the 401(k) Plan, the Rollover Contribution Instructions & Application is located within this guide.
Loans and Withdrawals
Our 401(k) Plan is designed to help you save for retirement, and there are IRS restrictions on when money may be withdrawn from your account. The IRS does, however, recognize certain events may present a need for you to access your savings prior to retirement.
Under the following circumstances, you may withdraw money from your 401(k) Plan account.
To help you work toward your retirement and savings goals, your savings rate will increase over time. If
the combined total of your current pre-tax 401(k) contribution rate and your Roth 401(k) contribution rate is less than 20% of your regular pay, your pre-tax contribution rate on your regular pay will
be automatically increased by 2% (not to exceed 20%) as of the first payroll period each January unless you opt out during the special opt-out period held each December. If you only make Roth 401(k) contributions, your Roth 401(k) contribution rate will increase by 2% (not to exceed 20%) each year.
Automatic Re-Enrollment
If you have previously opted out of participating in the 401(k) Plan, or if the total of your pre-tax 401(k) salary deferrals and your Roth 401(k) contributions is less than 6% of your regular pay, your pre-
tax contribution rate will be increased to make a combined contribution rate of 6% as of the first payroll period each January. If you are only making Roth 401(k) contributions, you will be re-enrolled in your Roth 401(k) account at 6% of your base pay. You may opt-out of the automatic re-enrollment during the special opt-out period held each December.
If you have enrolled in Schwab Retirement Plan Services’ voluntary automatic savings increase program you will not be subject to Latham’s annual automatic savings increase or automatic re-enrollment.
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