Retirement
SportsMed PT Retirement Savings Plan
Build your financial future one paycheck at a time
SportsMed PT offers a 401(k) Profit Sharing Plan designed to help you save for retirement with flexibility, automatic enrollment, and employer contributions that grow with your service.
Why Participate
Saving through the SportsMed PT 401(k) Plan helps you:
- Save pre-tax and/or after-tax (Roth) dollars.
- Grow your savings through investment earnings.
- Receive discretionary employer matching and profit-sharing contributions based on years of service.
- Access online tools and personalized financial education through Empower Retirement.
Excluded Employees
- Highly compensated employees
Automatic Enrollment
If you don’t make an election, SportsMed PT will automatically enroll you at 2 % of your eligible compensation (pre-tax deferral) each pay period. You may change your rate or opt out any time through Empower.
Your Contributions
- Pre-Tax 401(k): contribute before taxes and pay tax on withdrawals.
- Roth 401(k): contribute after taxes and take qualified withdrawals tax-free.
- You may contribute up to 90 % of your pay within IRS limits
- Modify contributions at any time via Empower or HR.
SportsMed PT Contributions
SportsMed may contribute to your retirement through:
Employer Match (discretionary)
Each year SportsMed may match a percentage of your salary deferrals announced no later than 60 days after the final match payment for the year
To receive a match you must:
- Be employed on the last day of the Plan Year, and
- Complete one Year of Service (1,000 hours)
- Not be categorized as a highly compensated employee
Vesting Schedule
You own 100 % of your:
- Salary deferrals (pre-tax and Roth)
- Catch-up contributions
- Rollover balances
Employer matches vest as follows for each completed year of service:
Years of Service | Vested % |
< 2 | 0 % |
2 | 20 % |
3 | 40 % |
4 | 60 % |
5 | 80 % |
6 | 100 % |
You are fully vested at your Normal Retirement Age.
Investing in Your Account
Your contributions are invested through Empower Retirement based on your elections.
- Choose from a diverse lineup of funds or use target-date funds as a default.
- Change your investments any time at empowermyretirement.com.
- If no selection is made, your account will default to the plan’s qualified default investment alternative.
- Fees and performance information are available in your Empower dashboard
Access Your Account
Online Registration Steps (via Empower)
- Visit empowermyretirement.com.
- Select Register → “I do not have a PIN.”
- Follow the prompts to create a username and password.
- Use the Empower mobile app (available on App Store and Google Play).
- Need help? Call 800-338-4015 (M–F 8 a.m.–10 p.m. ET; Sat 9 a.m.–5:30 p.m. ET)
Distributions & Withdrawals
You may receive a distribution:
- At retirement or termination of employment.
- Upon reaching age 59 ½ (in-service withdrawal).
- For a qualified financial hardship (per IRS guidelines).
- In the event of death or disability.
Minimum Required Distributions (RMDs) begin at age 73 under current law
Helpful Links and Documents
