Company: AOS
Filing Date: 2025-06-30
Form Type: 11-K
Source: 0000091142-25-000086
Chunk: 5

Company: SMITH A O CORP
Filing Date: 2025-06-30
Form: 11-K
Chunk 5
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 Paso, TX; Florence, KY; Franklin, TN; Groveport, OH; Haltom City, TX; Johnson City, TN; Knoxville, TN; Las Vegas, NV; Lebanon, TN; McBee, SC; Milwaukee, WI; Nashville, TN; Phillipsburg, KS; Phoenix, AZ; Plymouth, MI; Pottstown, PA; Rancho Cucamonga, CA; Tucson, AZ; and West Palm Beach, FL providing a convenient means of savings with the assistance of the Company. To be eligible, certain employees must either be employed at a rate expected to work 1,000 hours of service in a plan year or actually complete 1,000 hours of service during their first 12 months of employment or any plan year thereafter. Employees are eligible to participate in the Plan on the first day of the month after the individual qualifies as an eligible employee. Employees elect to participate by designating a portion of their earnings to be contributed to an account maintained on behalf of the participant. Participants direct the investment of their contributions into various investment options offered by the Plan.

The Plan contracted with Matrix Trust Company (Matrix) and Truist Investment Services Inc. (Truist) to act as custodian and OneAmerica Retirement Services LLC (OneAmerica) as recordkeeper under the Plan until December 8, 2024. After which Matrix and OneAmerica were replaced by Fidelity Management Trust Company as custodian and Fidelity Workplace Services LLC (Fidelity) as the recordkeeper under the Plan. Therefore Fidelity, Matrix, Truist, and OneAmerica, are each a party-in-interest to the Plan.

Effective January 1, 2010, the Plan was revised to satisfy the safe harbor requirements of Internal Revenue Code 401(k)(13) as follows:

a. An automatic enrollment feature was instituted, along with an annual automatic increase in employee pre-tax contributions;

b. Plan participants have the ability to contribute up to 100% of eligible compensation on a pre-tax basis; the company will make a matching contribution equal to 100% of the first 1% of a participant’s compensation and 50% on the next 5% of a participant’s compensation contributed to the Plan, for a maximum annual matching contribution of 3.5%; and

c. All matching contributions vest after two years of vesting service.

The Plan was also revised to permit the Company to make an additional discretionary matching contribution to be allocated as of the last day of the plan year for those participants