Retirement
E.L. Haynes realizes the importance of saving towards retirement and has established a retirement plan through Sentinel Benefits to assist you in meeting your long-term financial goals. This plan allows you to use tax-deferred money to save for your retirement while earning interest and receiving free money through the employer match.
403(b) Retirement Plan
The E.L. Haynes 403(b) Plan (Plan) is managed by Sentinel Benefits. All employees are required to login to www.sentinelgroup.com to create an account, even if you do not wish to contribute through payroll deferrals. E.L. Haynes plan access code is 8vKur7s9. If you have another qualified retirement account, you are allowed to rollover funds into your E.L. Haynes retirement account.
Employee Eligibility
Employees are eligible to contribute to their 403(b) account from day one of employment and are subject to the maximum contributions outlined below.
Contribution Limits
Through payroll deductions you may make pre-tax contributions and/or post-tax Roth deferrals. Each year in addition to depositing your salary deferrals, the Employer may make matching discretionary non-elective contributions which is subject to the vesting schedule.
2026 IRS Contribution Limit
$24,500
Catch-Up Contribution
$8,000
If you are age 50 or older and are eligible to add money to your 401(k) retirement plan, you can add money above the regular limits, referred to as a “catch-up” contribution.
Super Catch-Up Contribution
$12,000
The Setting Every Community Up for Retirement Enhancement Act of 2022 (Secure 2.0 Act) allows you to contribute an even higher amount to your 401(k)-retirement plan. If you turn 60, 61, 62 or 63 at any point during the 2025 tax year and beyond, you can contribute an additional amount above the regular IRS limit. Each year the limits may be adjusted for cost of living by the IRS.
E.L. Haynes Employer Contributions
E.L. Haynes will make discretionary automatic 3% contribution every pay period, which is subject to the vesting schedule below.
Vesting Schedule
You will have a fully vested and non-forfeitable interest in your Elective Deferral Account, Rollover Contribution Account, Qualified Non-elective Contribution Account and Safe Harbor Matching Contribution Account. You are 100% vested in the E.L. Haynes contributions after 2 years of employment.
Contact the provider of these benefits by calling this phone number or visiting this website: 888-762-6088, www.sentinelgroup.com