Retirement Savings Plan
coty retirement savings plan - Schwab Retirement Plan Services, Inc.
coty retirement savings plan - Schwab Retirement Plan Services, Inc.
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Your before-tax contributions are subject to a government-specified limit. For 2008, you may elect<br />
to make before-tax contributions up to $15,500. The <strong>Plan</strong> Administrator will advise you each year<br />
of the limitation in effect for that year.<br />
Catch-up Contributions<br />
If you have attained age 50 prior to the end of the <strong>Plan</strong> Year, you may elect to make an additional<br />
before-tax contribution to the <strong>Plan</strong> called a “catch-up contribution.”<br />
Your catch-up contributions are limited in amount by law. If you<br />
have attained age 50 prior to the end of 2008, you may defer an<br />
additional $5,000 on a pre-tax basis as a catch-up contribution.<br />
The limits on before-tax contributions and catch-up contributions<br />
apply to all before-tax contributions you make under similar plans.<br />
If you exceed the limits because of contributions made to another<br />
employer’s plan (e.g., prior to joining the Company), you may ask<br />
for a refund of the excess from this <strong>Plan</strong> by sending a written<br />
request to the <strong>Plan</strong> Administrator by March 1 after the end of the<br />
calendar year the limit was exceeded. If any of the refunded<br />
deferrals had been matched, that corresponding match will be forfeited.<br />
After-Tax Contributions<br />
When you make after-tax contributions, the money is deducted from your paycheck after taxes<br />
(federal, state and local) are taken out. After-tax savings do not reduce the amount of your<br />
compensation subject to current taxes. However, earnings on these contributions are sheltered<br />
from taxes until they are actually paid to you. At that time, only the earnings will be subject to<br />
taxes (see “When You Will Pay Taxes,” below).<br />
Change or Suspension of Contributions<br />
Any increase in your compensation automatically increases the<br />
amount of your employee contributions. You may also increase<br />
or decrease your employee contributions at any time, provided<br />
you follow the procedures established by the <strong>Plan</strong> Administrator.<br />
The increase or decrease will take effect as soon as practicable<br />
following the date your request is processed.<br />
You may also suspend your before-tax or after-tax contributions at any time, provided you follow<br />
the procedures established by the <strong>Plan</strong> Administrator. The suspension will take effect as soon as<br />
practicable following the date your request is processed. If you do suspend contributions, you<br />
may start contributing again as soon as practicable following the date your request is processed<br />
provided you follow the procedures established by the <strong>Plan</strong> Administrator. All election changes or<br />
suspensions must be made through the Coty Benefits Center.<br />
Rollover Contributions<br />
Subject to certain limitations and the <strong>Plan</strong> Administrator’s approval, you may roll over any eligible<br />
amounts that you have received from another tax-qualified plan or an individual retirement<br />
account (“IRA”) into this <strong>Plan</strong>. In addition, this <strong>Plan</strong> may accept direct trustee-to-trustee transfers<br />
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