BBU Savings Plan

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At the Company, we know you work hard for your money – and your money should work hard for you. The BBU Savings Plan is one way that the Company helps you save for the future and prepare for retirement.


The Company provides competitive 401(k) plan opportunities to help you prepare for retirement. Save today. Your future self will thank you!

Key advantages

Current tax savings 

You’ll pay less in income taxes when you make before-tax contributions from your paycheck. 

Roth deferred tax savings

Roth contributions provide you with tax-deferred growth on earnings and tax-free withdrawals in retirement.

Company matching contributions

The Company matches your before-tax and/or after-tax Roth payroll deductions up to 6% of your eligible pay.

Tax-deferred investment growth 

Before-tax contributions let your money grow without being taxed until you withdraw it.

Wide range of investment options 

You choose how you want to invest your money.


You are eligible to enroll in the BBU Savings Plan after 60 days of service if you are a regular full-time or part-time U.S. Associate, provided you are age 18 or older.


If you don't enroll or opt out within 60 days from your hire date, you will be automatically enrolled, contributing 6% before-tax of your eligible pay in the Vanguard Target Retirement Date fund for your year of birth.

Auto Increase

You will also be enrolled in the BBU Savings Plan's automatic increase feature.

The automatic increase feature helps you save more each year. You can have your contribution rate automatically increased by an elected percentage each July 1. The automatic increase will stop once you reach 10% unless you elect to go past this amount. If you are automatically enrolled in the BBU Savings Plan, you are also automatically enrolled in this feature. You may turn this feature on or off at any time.

Unless you provide your own investment elections, your contributions will be invested in the BBU Savings Plan's Qualified Default Investment Alternative.

Auto Re-Enrollment

At the end of November each year, The Company will notify you if:

  • You are eligible for, but not contributing to, the BBU Savings Plan and you have not stopped contributing to the BBU Savings Plan during the previous six months; or
  • You are contributing less than 6% and you have not made a change to the percentage you are contributing during the previous six months.

You will have 30 days to opt out of the annual auto re-enrollment program (as described in your notice); otherwise, your before-tax or Roth contributions will automatically increase to 6% on the following January 1, depending on your current contribution type.

You may change your contribution rate, investment elections or auto-increase status at any time by visiting the Fidelity website or calling 1-888-256-2547.

Learn More and Manage Your BBU Savings Plan Account

Visit the Fidelity website to:

  • Enroll in the BBU Savings Plan or make changes to your contribution or investment elections
  • Learn more about specific BBU Savings Plan provisions
  • Check your account balance
  • Monitor up-to-date investment performance
  • Change your contribution percentage, investment allocation and/or asset allocation
  • Request a loan, withdrawal, or distribution from your account
  • Choose or change your beneficiary(ies)
  • Learn about the BBU Savings Plan and the basics of saving and investing
  • Access online tools and calculators to help you decide how much to save
  • Learn how increasing your contributions may affect your take-home pay
  • Discover how much you can save by cutting a few extra expenses
  • Find out how much you can accumulate for retirement by increasing your contributions



Get started by visiting the Fidelity website to view plan details and access forms and documents.



Log in to your Fidelity account to see your balance and use planning tools and calculators.



Easily change your contribution rate, investment selections, or beneficiary on the Fidelity website. 

Your Contributions

You may contribute a combined total of 1% to 75% of your eligible pay to your plan account on a before-tax, after-tax and/or after-tax Roth basis, up to annual IRS limits.  

2024 contribution limits

  • $23,000 if you’re under age 50
  • $30,500 if you are age 50 or older this year (which includes an additional $7,500 in catch-up contributions)

These limits include your before-tax contributions, Roth after-tax contributions, or a combination of both. You also have the option of contributing to the plan with traditional after-tax money above these limits.

Every savings option has its advantages. While a traditional bank account provides you easier access to your funds should you need them, making before-tax contributions to your BBU Savings Plan account will have a higher rate of return and reduces your taxable income, so you'll pay less in taxes each year.

If You Make Before-tax Contributions If You Save After-tax Dollars in a Traditional Bank Account
Annual Pay $30,000 $30,000
Before-tax Contributions 6% ($1,800) $0
Taxable Pay $28,200 $30,000
After-tax Contributions $0 6% ($1,800)
Net Take Home Pay (after taxes and contributions) $24,226 $24,010
Estimated Tax Savings $216 $0
*The above example is based on 2023 Federal tax rates and assumes a standard deduction with a personal exemption for a single person.

Before-tax vs. Roth after-tax: What’s the difference?

The BBU Savings Plan gives you the flexibility to save for retirement with before-tax contributions, after-tax Roth contributions, or both.

  • With before-tax contributions – the money goes into your account before taxes are deducted, so you keep more of your take-home pay. 
  • With Roth after-tax contributions – the money goes into your account after taxes are withheld, but both your contributions and any associated earnings can be withdrawn tax-free in retirement.*

*For Roth earnings to be withdrawn tax-free, you must be at least 59½ (or the withdrawal must follow your death or total disability), and at least five years must have elapsed since you made the Roth contributions to the Plan.

Catch up!

If you’ll be age 50 or older this year, take advantage of the opportunity to contribute up to an additional $7,500 in catch-up contributions. Note: Catch-up contributions require a separate election at Fidelity.

Boost your retirement income with HSA savings

If you’re enrolled in the Standard HSA or Enhanced HSA with a Health Savings Account (HSA), you can invest the money in your HSA to build long-term savings for retirement! An HSA is a tax-free way to save money and maximize how much of your BBU Savings Plan funds can be used to support your lifestyle.

In-Plan Roth Rollover

While you are employed by the Company, the Plan also permits you to convert certain non-Roth balances to a Roth account. Please see the BBU Savings Plan SPD for more details and be sure to consult with a tax advisor regarding the implications of electing a Roth conversion.

Rollover contributions

If you participated in another employer’s retirement plan or have an individual retirement account (IRA), you may be able to move — or roll over — money from that plan into your BBU Savings Plan account. If you decide you want to roll over money from another retirement plan or IRA to your BBU Savings Plan, you have the flexibility to choose how to invest your rollover contributions among the BBU Savings Plan’s available investment options. For more information, go online to Fidelity, or call Fidelity at 1-888-256-2547.

Company Contributions

The Company helps you reach your retirement goals faster by making matching contributions to your account. The Company matches 100% of your before-tax and after-tax Roth contributions to the plan, up to 6% of your eligible pay.

Here’s how the company match works:

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Don’t leave money on the table

Contribute at least 6% to take full advantage of the match — otherwise, you’re leaving free money on the table. Log in to your Fidelity account to increase your contribution rate.

Maximizing Matching Contributions through True Up

The Company is committed to making sure you do not miss out on the maximum Company matching contribution based on your annual contributions. If applicable, the Company makes a “true-up contribution” after the end of each year. If you have fluctuations in the percentage you contribute during the year, or if you contribute up to the IRS contribution limit before the end of the year, you may receive a true-up contribution from the Company in the first quarter of the following year to ensure you receive the maximum Company match for your annual contributions.


Vesting means your ownership or right to the money in your BBU Savings Plan account.

You are always 100% vested in your own contributions, including any investment gains and losses on the money. You become vested in Company contributions after you complete two years of service.

Accessing Your Retirement Savings

The money in your account is a long-term investment to help you prepare for your financial needs in retirement. Withdrawing or borrowing from your workplace savings plan has significant drawbacks and should be viewed as a last resort. Be sure you understand the impact that taking money out of your plan account on your future savings. However, under certain circumstances, you may be able to access money from your account before reaching retirement age through a loan or withdrawal. 

Think before you act 

  • If you’re considering taking a withdrawal or loan from your plan account, be sure to think about the impact it may have on your future. Taking money from your account now may lead to a smaller savings balance when you retire.
  • Not only are you taking money away from your retirement savings, but the burden of repaying the loan may make it harder to get back on track.
  • If you take a loan, you’ll also lose more money to taxes because the interest payments on your loan are made with money that has already been taxed, and it will be taxed again when withdrawn from your account.
  • If you withdraw before-tax money from your plan account, in addition to paying current taxes on the money, you may have to pay an additional 10% penalty tax if you are younger than age 59½ (or age 55 if you have retired or left the Company).
  • To prepare for life’s unexpected hurdles, learn more about Emergency Savings here.
  • If you are unsure about this topic and would like to discuss your options, please contact Fidelity at 1-888-256-2547.

Taking a Loan 

You have the option to take a loan from the amount you have saved as long as you are actively employed by the Company. If your account contains any qualified non-elective contributions these amounts are not available for a loan. Here is how the loan feature works:

  • The minimum loan is $1,000.
  • The maximum is the lessor of:
    • $50,000 minus your repaid loan amount (if any) during the 12-month period prior to your new loan
    • 50% of your vested account balance.
  • You pay back the loan through regular after-tax payroll deductions over a period of time – at least one year and up to five years (or up to 15 years if used to purchase your home).
  • You pay interest on the loan at the prior month’s prime interest rate plus 1%.
  • You can only have one loan outstanding from the BBU Savings Plan at a time.

For more information, visit the Fidelity website or call 1-888-256-2547.

Name a Beneficiary

When you become a participant in the BBU Savings Plan, you need to name a beneficiary. A beneficiary is the person(s) who will receive your account balance in the event of your death. As personal circumstances change, be sure to keep that information up to date. Visit the Fidelity website to add or change your beneficiary.

If you don’t name a beneficiary, your account balance will be paid to the persons below in the following order of priority:

  • Your spouse if you are married
  • Your surviving issue (i.e., children or other lineal descendants such as grandchildren, great-grandchildren and stepchildren)
  • Your surviving parents (including stepparents)
  • Your surviving siblings (including step- and half-siblings)
  • Your estate in a single payment in all other cases