What is a 401(k) Plan?

A 401(k) plan is a company-sponsored retirement account to which employees can contribute income, while employers may match contributions.

Eligibility

•  You must be 18 years of age AND
•  As a full-time associate, you are eligible to participate the 1st of the month following 60 days of tenure.
•  As a part time, temporary or seasonal associate:
  • You must work at least 1,000 hours within the first 12 months of employment.
  • You will be eligible to start contributing on your one-year anniversary.
    
    

Contributions

•  The 2023 IRS limit for the total combined before and after-tax contributions is $22,500.
•  You can start or stop your contributions at any time throughout the year by visiting www.netbenefits.com. 
• If you are 50 years or older, you may qualify to make additional before and after-tax “catch-up” contributions. The 2023 IRS limit is $7,500.
  
  

Home Chef Employer Match

• Home Chef offers an employer match of 100% of the first 3% of your Compensation that you contribute to the Plan and 50% of the next 2% of your Compensation that you contribute to the Plan.
• You can make pre-tax and Roth (after-tax) contributions up to 90% of your per pay period earnings, or to the annual maximum IRS limit, whichever comes first. Please review our Benefits Guide for additional details.

To register for the Home Chef 401(k) plan, view this guide: How to Register for/Update Your 401(k)

If you have additional questions about the Home Chef 401(k) plan, please Submit a Ticket.