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Information you can use

• Track every dollar.
• Create a $1,000 emergency fund today.
• What can the BEK Credit Union do for you?
• If you retire from BEK, what happens to your pay, benefits and pension?

401(k)

In 2023, you can save up to $22,500 of your pay in the BEK 401(k). How much should you be putting away for retirement? At least 4%, of course! Why? Because Ben E. Keith contributes one dollar for each dollar you save, up to 4% of your pay. So if the convenient payroll deductions and potential tax advantages don’t get you into the plan, the Company match should.

If you don’t elect a contribution rate, you will be automatically enrolled as soon as you are eligible at a contribution rate of 4% of your pay.

Who can participate?
Full-time and part-time employees are eligible to participate in the 401(k) on the first day of the month following 60 days of service. You must be under age 55 or have less than one year of Company service as of July 1^st, 2018 to  participate in the 401(k).

When participation begins
You can start contributing to your 401(k) on the first day of the month following 60 days of service if you were hired on or after July 1^st, 2018. Each pay period, money will be deducted from your paycheck at a pre-tax contribution rate of 4% of your pay unless you go to empowermyretirement.com and indicate what amount you prefer before the 1^st day of the month following your 60^th day of employment. You can increase, decrease or stop your contributions at any time.

More about Company contributions
Get the $1 for $1 Company match up to 4% of your pay. How it works:

We’ll help you get started
You can choose your own contribution rate any time. However, if you don’t get around to enrolling or choosing an amount, we’ll automatically enroll you at a contribution rate of 4% of your pay. Prefer a different amount or want to change or stop your contributions? Go to empowermyretirement.com.

Age 50 or older in 2023?
The IRS allows you to contribute an additional $7,500 in “catch-up” contributions, up to the 2023 limit of $30,000. This helps you save even more for your retirement.

Vesting is simple
“Vesting” is the point in time when you “own” the dollars in your 401(k). You are 100% vested in any BEK matching contributions (and any earnings) after two years of Company service. Your personal contributions are always 100% vested.

Rollovers are welcome
You can roll over dollars from a qualified retirement plan or IRA into your 401(k) account. We suggest you consult your personal financial advisor or Empower Retirement at empowermyretirement.com or call 1-833-BEK-SAVE (1-833-235-7283).

Have questions? Need help?
Contact Empower Retirement at empowermyretirement.com or call 1-833-BEK-SAVE (1-833-235-7283).

Profit Sharing

Ben E. Keith is extremely proud to have contributed more than $ 73.5 million dollars to the BEK Profit Sharing accounts of our employees in the last 14 years.

Profit Sharing dollars from Ben E. Keith, along with your 401(k) savings, will help you be on your way to a comfortable retirement

Who can participate?
Full-time employees with one year of Company employment are eligible to receive a Profit Sharing contribution if Ben E. Keith makes a discretionary contribution. Part-time employees are eligible after one year of employment in which a minimum of 1,000 hours were worked.

How your account is invested
We will automatically invest dollars in your account in a State Street Target Date Fund based on your retirement age. Or, you can choose funds that better meet your personal investment strategy if you prefer.

You can choose the same (or different) funds for your 401(k) account.

Vesting is simple
Your Profit Sharing contributions from Ben E. Keith are 100% vested after six years of service:

• 20% after year 2
• 40% after year 3
• 60% after year 4
• 80% after year 5
• 100% after year 6

Have questions? Need help?
Contact Empower Retirement at empowermyretirement.com or call 1-833-BEK-SAVE (1-833-235-7283).

Pension

If you are a Ben E. Keith employee hired on or before July 1st, 2017, you can access information about your pension online here.

BEK Educational Assistance Program

Effective May 1^st, 2020
Ben E. Keith Company offers full-time employees with six months of service the opportunity to receive up to $5,250 each year towards an Associate, Bachelor, or Master’s degree at accredited two- and four-year institutions.

Continuing (or starting) your education with the help of Ben E. Keith Company is a great way to develop your career.

How to apply

1. Complete the one page application then submit to education@benekeith.com by the below deadlines.
   You’ll need to provide details about your degree and anticipated financial request. Your manager must sign your application and you must be in good standing to be eligible. You will need Adobe Acrobat Reader to view and complete the form. Applications should be submitted no later than:
   • July 15^th for Fall semester.
   • November 15^th for Spring semester.
   • April 15^th for Summer semester.

   If the deadline falls on a weekend, the deadline will be the following Monday.

2. The Educational Review Committee will review applications shortly after the deadline. You’ll be notified of whether you are accepted into the program within four weeks.
3. You will be reimbursed each quarter for approved expenses, including tuition, fees, and books after you submit receipts. In addition, you must provide documentation such as a transcript that shows you have received a passing grade of C or higher, or received a “Pass” if the course is “Pass/Fail.”
4. If accepted into the program, you must submit your invoice/receipts for reimbursement within 60 days of completing each semester’s coursework.

For additional details, review the Educational Assistance Program Policy.

Credit Union

As a Ben E. Keith employee, you and your eligible family members can join the BEK Credit Union. Members have access to a wide range of financial benefits.

Click here to learn what the BEK Credit Union can do for you and your family.

Go to bekefcu.org or call 1-817-759-6300 for more information.

Flexible Spending Accounts (FSAs)

Enroll in an FSA and stretch your paycheck by using pre-tax dollars to pay for eligible dependent and health care expenses. Ben E. Keith offers two kinds of FSAs. Enroll in one (or both) FSAs for 2023.

Dependent Care FSA

• Use for daycare, nursery school, pre-school, after school, day camp for eligible children under age 13 or senior daycare for aging parents.
• Contribute up to $5,000 pre-tax dollars each calendar year.
• Decide on an amount to contribute from each paycheck using this FSA Worksheet and list of eligible expenses.
• Funds are available as soon as they are deducted from your paycheck.
• Any unused FSA dollars at the end of the year can be reimbursed to pay for 2023 eligible expenses through March 15^th, 2024.

Health Care FSA

• If you enroll in the BEK PPO Medical Plan, use your health care FSA debit card to pay for eligible medical, dental and vision expenses including deductibles, coinsurance, copays, prescriptions and over-the-counter medications.
• If you enroll in the BEK HSA Medical Plan, use money in your health care FSA to pay for eligible dental and vision expenses only. You must submit your expenses for reimbursement. You will not receive a debit card.
• Contribute up to $2,850 using pre-tax dollars each calendar year.
• Your entire 2023 annual contribution amount is available to use on January 1^st, 2023.
• Decide on an amount to contribute from each paycheck using this FSA Worksheet and list of eligible expenses.
• You can carry over up to $610 in unused FSA dollars to the following year.

SmartDollar financial tools

Go to smartdollar.com/enroll/benekeith and use the EveryDollar tool to learn where you stand.

PerkSpot discounts

Go to benekeith.perkspot.com and enter bekperks to start saving.