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The 401(k) Savings Plan
Update: Your Guide to Benefits at JPMorgan Chase
This document is your summary plan description of the JPMorgan Chase 401(k) Savings Plan. The U.S. Department of Labor requires JPMorgan Chase to routinely provide benefits plan summaries to plan participants. Please retain this information for your records.
This document does not include all of the details contained in the applicable insurance contracts, plan documents, and trust agreements. If there is a discrepancy between the official plan documents and this summary, the official plan documents will govern.
Be sure to read the "About This Guide" section and the "Plan Administration" section for more important details about the plan and this description, and for reference to the official plan documents.
Your Wealth Accumulation Program
JPMorgan Chase offers a number of wealth accumulation plans that help you build income for your future. These plans include:
Working together, the components of these plans — along with your personal savings and Social Security benefits — allow you to design a personal strategy to help you meet your long-term financial needs.
This section will provide you with a better understanding of how the 401(k) Savings Plan works, including how and when benefits are paid.
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Questions?
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To Access the 401(k) Savings Plan Web Center:
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Contact the 401(k) Savings Plan Call Center:
Service Representatives are available from 8 a.m. to 8 p.m. Eastern Time, Monday through Friday, except New York Stock Exchange holidays.
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From Work: Go to Company Home My Rewards @ Work 401(k) Savings Plan Web Center
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JPMorgan Chase understands the importance of planning for the future; that's why we offer the 401(k) Savings Plan.
Joining the JPMorgan Chase 401(k) Savings Plan is optional. If you participate, you decide how much to contribute to your account and how your savings should be invested. You can contribute on a before-tax basis ¾ that is, before federal and, in most cases, state and local taxes have been withheld. With before-tax contributions, you reduce your current taxable income and defer taxes on both your savings and any earnings on those savings until you withdraw them from the plan.
You can also make Roth 401(k) contributions on an after-tax basis ¾ that is, after federal, state and local income taxes have already been withheld. In this case, you do not lower your taxable income, but when you take a qualified distribution, your contributions, including any investment earnings, are tax-free when withdrawn.
In addition, if you are eligible and have completed one year of total service, JPMorgan Chase will generally match the first 5% of benefits pay you contribute to the plan. Taxes on your matching contributions and their investment earnings are deferred until you take a withdrawal or a distribution from the plan.
Whatever you're working toward, the 401(k) Savings Plan can help you get that much closer to your long-term financial goals. This section will provide you with a better understanding of how the 401(k) Savings Plan works, including how and when benefits are paid.
This summary plan description is incorporated by reference into the " 401(k) Savings Plan Prospectus" covering securities that have been registered under the Securities Act. The enclosed prospectus is prepared and circulated in connection with JPMorgan Chase's obligations under United States' securities laws to its shareholders, not pursuant to any obligations set forth in the Employee Retirement Income Security Act (ERISA). Accordingly, participants should be aware that the prospectus is a separate document unrelated to this summary plan description, and the financial statements referred to by it, and incorporated by reference therein, have not been prepared pursuant to the fiduciary duties imposed by ERISA.
The JPMorgan Chase U.S. Benefits Program is available to most full-time and part-time U.S. dollar-paid salaried employees who are regularly scheduled to work 20 hours or more a week and who are employed by JPMorgan Chase & Co. or one of its subsidiaries to the extent that such subsidiary has adopted the JPMorgan Chase U.S. Benefits Program. This information does not include all of the details contained in the applicable insurance contracts, plan documents, and trust agreements. If there is any discrepancy between this information and the governing documents, the governing documents will control. JPMorgan Chase & Co. expressly reserves the right to amend, modify, reduce, change, or terminate its benefits and plans at any time. The JPMorgan Chase U.S. Benefits Program does not create a contract or guarantee of employment between JPMorgan Chase and any individual. JPMorgan Chase or you may terminate the employment relationship at any time.
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