401(k) Plan - Definitions

A retirement savings plan that allows employees to contribute a portion of their pay toward retirement on a tax-advantaged basis. The JBPro 401(k) plan is administered by Accrue.

Accrue (formerly Guideline) is JBPro’s 401(k) plan provider and administrator. Accrue manages enrollment, contributions, investments, account balances, and access to plan documents.

📎 Learn more: Accrue Help Center

The portion of your paycheck that you choose to contribute to your 401(k). These contributions are deducted automatically from payroll and deposited into your Accrue account.

Contributions made before income taxes are applied to your paycheck. These contributions reduce your taxable income today. Taxes are generally paid when funds are withdrawn in retirement, subject to IRS rules.

📎 Learn more: Accrue – Pre-tax vs. Roth: Factors to consider when contributing to your Accrue 401(k)

Contributions made after income taxes are applied to your paycheck. Qualified withdrawals in retirement may be tax-free, provided IRS requirements are met.

📎 Learn more: Accrue – Pre-tax vs. Roth: Factors to consider when contributing to your Accrue 401(k)

The official document that outlines the terms, rules, and legal requirements of the JBPro 401(k) plan. If there is any difference between this hub and the SPD, the SPD governs.

Learn more: 

1. Login to your Accrue Account 

2. Select 'Documents' on the right side of the screen

3. Select 'Resource Library' on the top bar

4. Scroll to 'Plan & account information'

5. Select Summary Plan Description 

Contributions made by JBPro to your 401(k) based on your own contributions. JBPro matches 100% of employee contributions, up to 3% of eligible compensation, as defined in the Plan. Employer matching contributions are made as pre-tax contributions.

Learn more: 

1. Login to your Accrue Account 

2. Select 'Documents' on the right side of the screen

3. Select 'Resource Library' on the top bar

4. Scroll to 'Plan & account information'

5. Select Summary Plan Description 

Additional discretionary contributions that JBPro may choose to make in certain years, based on company performance. These contributions are not guaranteed and are governed by the terms outlined in the Plan documents.

Learn more: 

1. Login to your Accrue Account 

2. Select 'Documents' on the right side of the screen

3. Select 'Resource Library' on the top bar

4. Scroll to 'Plan & account information'

5. Select Summary Plan Description 

The investment option used if you do not actively choose your own investments. Accrue selects this portfolio based on age and estimated retirement date.

📎 Learn more: Understanding the managed portfolios available for your 401(k)