Company: AIZ
Filing Date: 2025-06-26
Form Type: 11-K
Source: 0001267238-25-000036
Chunk: 4

Company: ASSURANT, INC.
Filing Date: 2025-06-26
Form: 11-K
Chunk 4
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 allowed to participate in the Plan 30 days after beginning employment. Eligible employees are automatically enrolled at a 3% pre-tax contribution rate. Employees have the option to elect a different contribution rate or to opt out of the automatic contributions. Additionally, employees who are contributing less than 15% to the Plan on a pre-tax basis are automatically enrolled in the annual increase program, which increases their pre-tax contribution rate on or after December 31 of each year by one percentage point until their pre-tax contribution rate reaches 15%. Employees have the option to opt out of the automatic annual increase program. Each participant may elect to make contributions to the Plan on a pre-tax and/or after-tax basis through payroll deductions from 1% through 50% of such participant’s eligible compensation for each pay period up to an annual maximum of $23.0 thousand for 2024. In addition, participants who are age 50 or older and have made the maximum contribution to the Plan could make an additional catch up contribution to the Plan up to an annual maximum of $7.5 thousand in 2024. Participants can change the rate at which they contribute at any time during the year. Participants may also contribute amounts representing distributions from other qualified plans.

ii. Employer Contributions - Participants are immediately eligible for the Employer matching contribution, which is based on a uniform calculation of 100% of employee deferrals up to 6% of eligible pay contributed by the participant on a pre-tax basis. These contributions are made through the payroll process. To ensure that each eligible employee receives the maximum eligible Company match, a true-up Employer matching contribution is made as of year-end.

iii. Profit-Sharing Contributions - The Plan was amended in 2016 to allow the grant of discretionary profit-sharing contributions.

c. Participant Accounts . Individual accounts are maintained for each Plan participant. Each participant’s account is credited with employee contributions, Employer contributions and investment earnings and charged with the allocation of investment losses and an allocation of administrative and investment management expenses.

d. Vesting . A participant becomes 100% vested in their Employer contribution account upon two years of vesting service. In addition, a participant becomes 100% vested when they reach normal or early retirement date, terminate by reason of total disability or if they die while employed by the Employer.

e. Participant Loans. Participants may borrow a minimum of $500 up to a maximum equal to the lesser of $50 thousand from their fund accounts, reduced by the highest outstanding balance of loans taken in the previous 12 months, and