Retirement
Our commitment is to provide our people with flexible benefits to meet their needs in all stages of life, including retirement.
Need more information? Learn more at InSideCox.com/Money.
Employees who were hired or rehired prior to March 31, 2017 participate in the Cox 401(k) Plan with Traditional Match and other retirement benefits. Additionally, if you are subject to a collective bargaining agreement, your retirement benefits may be different than described above.
Enhanced Match 401(k)
After 90 days of employment, full and part-time employees have access to the Cox 401(k) Plan with Enhanced Match. The Cox 401(k) Plan provides up to 8% of eligible pay in employer contributions:
- Cox automatically contributes 2% of your pay regardless of your participation in the Plan
- You can choose to contribute up to 75% of your eligible pay. Cox will match your contributions dollar for dollar up to 6%.
Administered by Vanguard, you’ll have access to robust investment options, on-demand retirement planning tools and professional investment education.
Roth and Pre-Tax Options Available
Through the Cox 401(k) Plan, you can choose to contribute on a pre-tax or post-tax (Roth) basis regardless of your income level.
You can take the money out tax-free in retirement —both contributions and any earnings—provided you meet two conditions.* Roth contributions are taken after taxes and do not lower your income tax in the current year.
Pretax contributions lower your overall taxable income in the current year. You will not pay income taxes on your contributions and earnings until you receive distributions from the Plan.
*Taxes: Taking money from your retirement account can affect how much you’ll have to pay in taxes. You’ll owe taxes on pre-tax money. You won’t owe taxes on Roth earnings as long as you are age 59½ or older and it’s been at least five years since your first Roth contribution. If required by law, Vanguard will withhold some taxes for you. You may need to pay a 10% federal penalty tax if you take money out early.
Need More Information?
Learn more at InSideCox.com/Money.
Employees who were hired or rehired prior to March 31, 2017 participate in the Cox 401(k) Plan with Traditional Match and other retirement benefits. Additionally, if you are subject to a collective bargaining agreement, your retirement benefits may be different than described above.