[ 401 (K) PLAN ]

If you’re a full-time employee, you may start contributing to your 401(k) Plan immediately upon hire or the date you become a full-time employee.

You can contribute up to 90 percent of your eligible pay, and you can choose pre-tax and/or Roth contributions.

The IRS sets annual limits on your contributions: $23,500 for 2025. If you’re 50 or older, you can contribute an extra $7,500 per year in catch-up contributions. Beginning in 2025, if you are between the ages 60-63, you can contribute $11,250 as a catch-up contribution. 

You can enroll, change your contribution percentage, update your investment allocations, update your beneficiaries and more online at 401k.com.

If you’re a full-time employee, you are automatically enrolled in the 401(k) Plan — at 4% of eligible wages — one month after your hire date. Additionally, each September, employees who are not contributing to the 401(k) plan will be automatically re-enrolled.

Financial experts recommend that you contribute 10%-15% of your annual income to your 401(k) to prepare for a comfortable retirement. To help you stay on track to replace your paychecks in retirement, Worthington Steel utilizes an automatic annual increase. Each September, your pre-tax contributions will automatically increase by 1%, until you reach a maximum of 10%. If you’re already contributing 10% or more, you will not see a change.