401(k) RETIREMENT SAVINGS

Building a healthy financial future is just as important as taking care of your health needs today. Putting money aside for your future is easy with the Saks Global 401(k) Retirement Savings Plan.

• Eligibility: If you are actively employed and age 21, you are immediately eligible to begin deferring to the plan.
• Auto Enrollment: If you do not actively enroll within 90 days of your date of hire, you will be automatically enrolled into the plan the first of the month following, at a 3% contribution rate.
• Auto Increase: For those that are auto enrolled into the plan, your contributions will automatically be increased by 1% on each anniversary of the enrollment (capped at 6%). You can also elect to have your contributions automatically increased in the amount and at the time that you choose.
• Contributions: You can choose between deferring on a pre-tax, Roth and/or after-tax basis.
  • Pre-tax contributions allow eligible employees to defer income on a pre-tax basis. This reduces your taxable income, allowing your investments to grow on a tax- deferred basis. Any earnings are still considered taxable at the time of withdrawal.
  • Roth contributions allow eligible employees to defer income on an after-tax basis. This does not reduce taxable income but allows for earnings to accrue on a tax-free basis provided that the assets remain in a Roth plan for at least 5 years.
• After-tax: After-tax contributions allow you to defer on an after-tax basis. This does not reduce your taxable income and you pay taxes on the earnings when you withdraw the funds. Note: after-tax contributions are not eligible for the company match.
• Catch-Up Contributions: If you are 50 or older, you have the opportunity to save more in your retirement plan. New for 2026, certain high-earner colleagues will be required to make all catch-up contributions to the plan on an after-tax Roth catch-up basis.
• Company Match: All contributions are eligible for matching after you complete one year of service plus 1,000 hours and are at least age The Company will match 100% on the first 1% and 50% on the next 5% of eligible compensation, up to a maximum of 6%. Match will be provided each pay period.
• Vesting: You are always 100% vested in contributions that you make to the 401(k) plan. You become 100% vested in the Saks Global company matching contributions after completing two years of service. A year of service is defined as a Plan year during which you are credited with at least 1,000 service hours.
  • Contribution Limits:* $24,500 combined Pre-Tax and Roth.
  • $8,000 is the regular combined Pre-Tax and Roth Catch-Up for those between the age of 50-59 and over age 64.
  • $11,250 is the higher Pre-Tax and Roth Catch-Up limit for those between the age of 60-63.

*Benefit limits are subject to IRS regulations The current limits reflect the 2026 limits.