We want to help you feel secure today by giving you ways to save for tomorrow. You can start saving by contributing pre-tax money from each paycheck to Catalina's 401(k) and Retirement Savings Plan. You can choose to defer anywhere from 1-50% of your pay (up to annual IRS limits for the year).
Retirement Savings Plan Details
Vesting
You are 100% vested in your salary and bonus or sales incentive deferral contributions as well as your employer matching contributions from your date of hire.
Company Matching Contributions
To support your retirement saving efforts, Catalina will *match 100% of your contributions to the Plan, up to 4% of your eligible pay.
*The Plan can only use up to the annual compensation limit of $330,000 in 2023 and $340,000 in 2024 when applying the matching formula (IRC Section 401(a)(17)).
Annual Contribution and Catch-Up Contribution Limits
You are able to change your contribution amount or stop contributing anytime throughout the year. Visit www.principal.com.
The IRS regulates the amount you are allowed to contribute from your regular earnings to your 401(k) account each calendar year based on age. In the calendar year you turn age 50, you become eligible to make catch-up contributions.
2023
Contribution Limit
Max contribution for employees under age 50: $22,500
Catch-Up Contribution
Max catch-up contribution for employees 50+: $7,500
2024
Contribution Limit
Max contribution for employees under age 50: $23,000
Catch-Up Contribution
Max catch-up contribution for employees 50+: $7,500
Rollovers
Your contributions to other plans, like a 401(k), 403(b) or 457(b), can be rolled into the Retirement Savings Plan. Contact Principal for details.
How to Enroll
To enroll in your 401(k) plan, you will need to register as a new user on the Principal website.
Note: If you are a new hire, please allow 10-15 business days from your date of hire prior to registering.
You will be asked to verify some personal information before you are prompted to create a username and password. You will choose your deferral percentage and investments during the registration process. If you do not select your investments, your contributions will automatically default to a money market/stable asset fund for your expected retirement year.
You may start, stop or change your contributions and investments at any time during the year by logging into your account on the Principal website.
If you are a prior Principal customer, please use your existing log-in information.
what happens if i leave?
If you separate employment with Catalina, you may take your money with you or roll it over to an IRA, 401(k), or other qualified plan.