Retirement
Retirement
Overview
Every employee is at a different stage on the road to saving for retirement. Wherever you are, there is a convenient, tax-advantaged way to save for the future: the Publicis Benefits Connection (PBC) 401(k) Plan, administered by Fidelity. You can enroll anytime, and do not have to take action during your enrollment period. To access your account, visit Fidelity NetBenefits or call Fidelity Customer Service at 1-800-835-5095.
Getting Started
You and Publicis help create savings for your future through the Publicis Benefits Connection 401(k) Plan in the following ways:
You can contribute from 1% ‒ 50% of eligible compensation (up to 15% if highly compensated employee) on a pre-tax &/or post-tax basis up to annual IRS limits (for 2024, the annual contribution limit is $23,000 and the annual compensation limit is $285,000).
You own all your own contributions and any investment earnings on that money.
Publicis matches 100% of the first 3% of compensation you contribute and 50% of the next 2% of compensation you contribute.
You are 100% vested in any contributions you make to the plan and Publicis contributions vest based on your years of service.
Eligibility
All regular, salaried, full-time new hires are immediately eligible upon date of hire (for employees who work at least 1,000 hours of service per year or upon reaching 1,000 hours).
How to Enroll
There are two ways to enroll in the Publicis 401(k) Plan: Auto-Enroll and EasyEnroll.
Auto-Enroll (no action needed from you to participate in the Plan)
You will be automatically enrolled in the Plan within 35 days of your hire date at a rate of 5% of your eligible pay. Your contributions will be invested into one of the FIAM Index Target Date Commingled Pools Class Y funds according to your birth date. You have 30 days from your date of hire to opt out of auto enrollment; once contributions start you can opt out at any time. You can request a return of your automatic contributions adjusted for gains and losses, up to 90 days after you have been automatically enrolled in the plan by calling the Fidelity Retirement Benefits Line at 1-800-835-5095.
EasyEnroll
You do not have to wait to be auto-enrolled in the Plan — you can elect to contribute to the Plan with EasyEnroll available on Fidelity NetBenefits. With EasyEnroll you can choose your contribution amount from pre-set contribution rates of 8%, 10%, or 12% of your eligible pay. Your contributions will be invested according to your birth date into one of the FIAM Index Target Date Commingled Pools Class Y funds.
Contributions
Employee Contributions
Employees can contribute up to a maximum of $23,000 (IRS Section 402g limit) in 2024. Employees are 100% vested in their employee contributions to the Plan, as well as any earnings on them.
Publicis Matching Contributions
The Publicis matches 100% of the first 3% of eligible pay you contribute and 50% on the next 2%, to a maximum Publicis-provided match of 4% of your eligible salary (capped at $285,000) for calendar year 2024. The Company’s matching contributions and earnings vest according to the following schedule:
Vesting Schedule
| Years of Service | Percent Vested |
|---|---|
| 0 ‒ 1 | 0% |
| 1 ‒ 2 | 25% |
| 2 ‒ 3 | 50% |
| 3 ‒ 4 | 75% |
| 4+ | 100% |
Catch-Up Contributions
If you will reach age 50 or older during the calendar year January 1 to December 31 and are making the maximum plan or IRS pre-tax contribution, you may make additional “catch-up” contributions each pay period (up to $7,500 in 2024). You may also make after-tax contributions to the Roth 401(k). If you elect to use a Roth 401(k), you may make after-tax Roth catch-up contributions.
Vesting
You are always 100% vested in your contributions to the Plan. The Publicis’s matching contributions and any earnings vest according to the following schedule:
| Years of Service | Percent Vested |
|---|---|
| Years of Service 0 ‒ 1 | Percent Vested 0% |
| Years of Service 1 ‒ 2 | Percent Vested 25% |
| Years of Service 2 ‒ 3 | Percent Vested 50% |
| Years of Service 3 ‒ 4 | Percent Vested 75% |
| Years of Service 4+ | Percent Vested 100% |
Investment Options
To help you meet your investment goals, the Plan offers you a range of investment options. You can select a mix of investment options that best suits your goals, time horizon, and risk tolerance. Publicis Connection offers investment options across all asset classes in the following categories:
Target Retirement Date Funds — Fidelity Freedom K® Funds (default)
Index Funds
Actively Managed Funds
Loans
Although your account is intended to be a savings vehicle for your future, you may borrow from your vested account balance for any reason while you are an active employee. You then pay the money back to your account, plus interest, through after-tax payroll deductions. You may borrow up to 50% of total vested account balance:
Minimum loan is $1,000, maximum is $50,000, subject to IRS limitations for multiple loans
Two outstanding loans allowed at a time
Withdrawals and Distributions
Withdrawals
While you are employed, you can access your account balances through in-service withdrawals in certain situations, including:
Hardship withdrawals
Non-hardship withdrawals allowed from rollover and after-tax accounts
Non-hardship withdrawals allowed for employees age 59½ or older
Keep in mind that withdrawals are subject to income taxes and are possibly subject to a 10% early withdrawal penalty.
Distributions
The value of your vested account balance is payable to you if you terminate employment before you reach the retirement age, normal or early retirement, if you retire due to a disability, and death. If you retire, you may:
Take your distributions as a lump sum
Roll distributions over to another eligible plan
Receive a distribution for $1,000 (or less) balance cash-outs if you do not opt to roll over to another plan
You will be required to take a distribution no later than April 1 of the calendar year following the year in which you reach age 70½.
Planning Summary on NetBenefits®
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Resources
You have a variety of tools and resources to help you manage your account and save for the future:
With Fidelity NetBenefits, you have easy access to the tools and resources you need to stay on track with saving for your future. Get relevant articles, easy-to-use tools, videos, and more all in one place.
The Investment Options Brochure helps you learn about the current investment fund options offered under the plan.
Publicis 401(k) Plan Fee outlines applicable fees under the plan.
Publicis 401(k) Plan Summary Plan Description outlines the basic plan provisions of the Publicis 401(k) Plan.
401(k) FAQs provide answers to commonly asked questions on the Publicis 401(k) Plan.
Retirement Plan Manager
If you are a “hands off” investor, Fidelity offers the Retirement Plan Manager (RPM) program under the Publicis Benefits Connection 401(k) Plan. This service manages your 401(k) account for you at no cost to you. You can get more information about this voluntary service by contacting Fidelity Retirement Services at Fidelity NetBenefits or at 1-800-835-5095.
Contacts
Benefits Service Center
Weekdays, 8:00 am – 8:00 pm ET
Fidelity Guidance Consultant
Fidelity NetBenefits
Group Number: 08063