ERCOT 401(k) Savings Plan ERCOT values its employees and the need to save for retirement. By providing above average company contributions, employees are eligible to receive up to 14.5% of eligible wages in company contributions. Employees receive each pay period: 10% company contribution (fixed, non-matching), plus 75% of the first 6% contributed in company match How do you vest in the company contributions? Fixed Company Contribution is 100% vested after 3 years of service. Company Match vests 20% for each year of service. The ERCOT plan provides a balanced array of investment options, competitive plan features, as well as quality tools and information provided through Fidelity Retirement Services. ERCOT 401(k) Plan features include: Immediate eligibility 15 core Mutual Funds, 13 Life-Cycle Funds, Mutual Fund Brokerage Window Pretax and Roth contributions, 1% to 99% of eligible compensation Qualified rollovers into the Plan Automatic Enrollment at 3% pretax after 30 days of employment Two active loans at one time; General Purpose loans and Residential loans available Hardship Withdrawals that meet the IRS Safe Harbor rules Age 59 ½ In-Service withdrawals, up to 100% of vested balance
ERCOT 401(k) Savings Plan ERCOT values its employees and the need to save for retirement. By providing above average company contributions, employees are eligible to receive up to 14.5% of eligible wages in company contributions. Employees receive each pay period: 10% company contribution (fixed, non-matching), plus 75% of the first 6% contributed in company match How do you vest in the company contributions? Fixed Company Contribution is 100% vested after 3 years of service. Company Match vests 20% for each year of service. The ERCOT plan provides a balanced array of investment options, competitive plan features, as well as quality tools and information provided through Fidelity Retirement Services. ERCOT 401(k) Plan features include: Immediate eligibility 15 core Mutual Funds, 13 Life-Cycle Funds, Mutual Fund Brokerage Window Pretax and Roth contributions, 1% to 99% of eligible compensation Qualified rollovers into the Plan Automatic Enrollment at 3% pretax after 30 days of employment Two active loans at one time; General Purpose loans and Residential loans available Hardship Withdrawals that meet the IRS Safe Harbor rules Age 59 ½ In-Service withdrawals, up to 100% of vested balance
ERCOT_401K_Plan_Summary_-2.docx