DRIVEN BASE
A beach Path

Retirement & 401(k)

401(k) DENSO Retirement Savings Plan (DRSP)

Full-time and part-time associates are eligible to participate in DENSO's 401(k) Retirement Savings Plan (DRSP), administered by Empower Retirement. DENSO will automatically enroll you in the 401(k) plan with a 4% employee contribution of your pre-tax earnings into your 401(k) account each pay period. DENSO will also contribute up to a 4% company match. In addition, your pre-tax contributions will increase automatically by 1% each year, until you reach 15%.

You can opt out or change either of the above options by contacting Empower either via phone at 888.411.4015 or online at empowermyretirement.com. Visit empowermyretirement.com to:
--Know your estimated monthly income in retirement: see if you're on track to meet your goal.
--Opt in for messages about your plan: stay up to date on plan events and changes.
--Get account details: see your balance, get fund information, view statements.
--Access your personal profile: choose electronic communications, update your email address, select or change your beneficiary.
--Quickly link to My Financial Path: offers actionable next steps toward reducing stress and helping you achieve financial goals.

Contribution Types

The below items are types of contributions made to your 401(k):

--Traditional Pre-tax or Roth After-tax: You can elect to contribute up to 75% of your eligible pay, subject to IRS limits.
--Catch-up: If you will be age 50 or older by the end of the year, you are eligible to make additional 401(k) contributions. These contributions may increase your contributions above 75% of pay.
--Company Match: Employer-matching contributions equal to 100% of the first 4% of compensation you defer (either Pre-tax or After-tax contributions can be matched to 4%; subject to IRS limits).
--Company Discretionary: DENSO may contribute up to an additional 3% of your eligible earnings on an annual basis.
--Annual True-up: Company matching contributions are reviewed annually to ensure you receive the maximum allowed amount. True-up contributions are paid at the end of the first quarter following the calendar year.

Choosing Your Investments - Two Ways to Diversify

There are two options to invest in your 401(k):

--Choose a single, ready-mixed portfolio (RetireReady Goal Setter): Make a single investment choice based on the date you want to retire and professionally diversify your total retirement savings across an array of funds.
--Build your own portfolio: Choose your own diversified combination of individual funds offered by the plan.

Vesting

Employer Matching Contributions and Employer Annual Discretionary Contributions consist of separate components, which vest differently.

--Total Company Match (100%) = Regular Match (75%) + QMAC (25%)
--Total Annual Discretionary (100%) = Annual Discretionary (75%) +QNEC (25%)

See the annual Benefits Guide for the Vesting Schedule for Employer Contributions. 

Additional Resources

Education Information