Your Financial Health
401(k) Plan Overview
| Eligibility | All Cision full-time employees are eligible to contribute to the 401(k) effective date of hire. | |||
| 401(k) | Cision offers a traditional 401(k) (pretax) savings plan, allowing you to save money for retirement. Your allowable contribution is limited each year by the 402(g) statutory limit unless age 50 or above ($22,500, $7,500 catch up). All employees over the age of 21 are eligible to participate in this plan. If you are a participant in the 401(k) Plan, you will receive quarterly statements from Fidelity reflecting your investment information. You may also access and manage your account at any time by contacting 800.835.5097 or Fidelity NetBenefits® at www.401k.com. | |||
| Roth 401(k) | Your 401(k) Plan accepts Roth 401(k) contributions, giving you the flexibility to designate all or a portion of your 401(k) elective contributions as Roth contributions. | |||
| After-Tax Contributions | You may elect to make Additional After-Tax contributions to the Cision 401(k) Plan at any time. Additional After-Tax contributions might be considered by employees who want to contribute more than the annual 401(k) contribution limit for the year. | |||
| Eligible Compensation | Cisions 401(k) plan allows for contribution deferrals to only come out of base salary. All other earnings, which may include commissions, bonuses, etc., are not eligible for 401(k) deferrals. | |||
| 401(k) Contributions | Cisions 401(k) plan allows you to elect contribution deferrals of up to 100% of your base salary. Contributions must be percentages only, the plan does not allow for flat amount deferral elections. | |||
| Auto Enroll | To make savings for retirement even easier, Cision offers an automatic enrollment feature. If you do not proactively make a deferral election, you will be automatically enrolled in Cisions 401(k) Plan starting with your first paycheck of the month following your date of hire. This means that amounts will be taken from your pay and contributed to the 401(k) Plan. These automatic contributions will be 6% of your eligible pay each pay period. | |||
| Auto Increase | If you are enrolled in the Cision 401(k) Plan, your contribution percentage will automatically increase by 1% each year on or shortly after April 1, until you reach a 10% contribution level unless you opt out of the automatic increase program. | |||
| Contribution Changes | You can always change the percentage amount you contribute to the 401(k) Plan. You can elect a different percentage at anytime by contacting 800.835.5097 or Fidelity NetBenefits® at www.401k.com. | |||
| Opting Out | If you do not want to contribute to the 401(k) Plan, you will need to proactively elect 0% contribution within 30 days of the acquisition by contacting 800.835.5097 or Fidelity NetBenefits® at www.401k.com. | |||
| Match Opportunity | Cisions 401(k) matching contribution is equal to 50% of the first 6% of the employee elective salary deferral. ($.50 for every $1 dollar deferred). Elective deferral contributions that are over 6% of the compensation will not be matched. This is a pay period match and the annual contribution limits are in accordance with IRS guidelines. As Cisions employer match is done every pay period, there is not an annual true-up match for those who front-load their contributions. | |||
| Vesting | Your employee contributions are always 100% vested in the plan. Cisions employer contributions follow a 4 year vesting schedule as noted below. | |||
| Year 1: 20% | Year 2: 40% | Year 3: 80% | Year 4: 100% | |
Additional Information
All changes to your 401(k) must be done with Fidelity directly by contacting 800.835.5097 or Fidelity NetBenefits® at www.401k.com.
You can make changes to your 401(k) contributions at any time.
Questions?
How to Enroll in Cision’s 401(k) with Fidelity
- Navigate to 401k.com
- Click on “Get Started” and then “Enroll Now”
- Enter your personal information to verify your identity. If your account is unable to be created, this may be due to a file feeds delay between Cision’s HR Information System and Fidelity. Please allow up to 2 weeks from your date of hire to enroll in Fidelity. For specific 401k.com website issues, please contact Fidelity directly at 800.835.5097.
- Upon successful creation of your account, select your contribution percentage and investments. Reminder: Contributions are only able to be full percentage numbers between 1-100% of your salary. For investment questions, please contact Fidelity directly at 800.835.5097.
For additional 401(k) plan documents and detailed enrollment and investment information, please visit the Documents page.
