The WSI 401(k) plan makes saving for your future easy. It is a retirement savings plan that lets you automatically set aside and invest a portion of your paycheck — along with matching contributions from WSI. You have the option to save pretax or post-tax.
WHY JOIN?
After you become eligible, WSI will match your contributions — $0.50 for every $1 you contribute, up to 6% of your eligible pay, for a total matching contribution of 3%.
There are professionally managed investments to take the worry out of selecting the best performers. You also have access to experienced retirement services professionals to help you get on the right track to reach your retirement goals.
WHO IS ELIGIBLE?
If you are an associate age 21 or older, you are eligible to participate in the 401(k) plan any time after your hire date. There is no special enrollment window.
HOW TO ENROLL
Contact Charles Schwab by calling 800.724.7526 or visiting workplace.schwab.com. If you enroll online, click on the Register Now box and enter the necessary information. Please remember to designate a beneficiary.
HOW TO SELECT YOUR INVESTMENTS
You can invest your contributions in any of the plan’s professionally managed investment options, as well as the Williams-Sonoma, Inc. Stock Fund. If you need help, Morningstar provides investment advice at no extra cost.
HOW TO CONTRIBUTE
You can contribute 1%–75% of your eligible earnings on a pretax and/or post-tax basis, up to the IRS limit of $23,000 for 2024. If you’re 50 or older, you can make a “catch-up contribution” ($7,500 for 2024) in addition to the limit above.
You can make changes to your contribution rate at any time.
HOW MATCHING CONTRIBUTIONS ARE VESTED
The company match is deposited twice per year. The first matching contribution is deposited in August for associate contributions made from January 1–June 30. The second matching contribution is deposited in February of the following year for associate contributions made from July 1–December 31. You must be employed on the last day of each matching period to receive the company match.
For full-time associates, your contributions will be match going forward starting the first day of the calendar quarter after you complete one year of service. For other associates (part-time, casual, seasonal and temporary), in addition to the one-year service requirement, you must have worked 1,000 hours during the first year of service or during any calendar year thereafter.
You’re 100% vested after 1 year of service.