Plan Comparison
The chart below highlights key similarities and differences between Juniper's 401(k) plan and the Deferred Compensation Plan.
| Plan Feature | 401(k) Plan | Deferred Compensation Plan |
|---|---|---|
| Pre-tax contributions or deferrals |
Yes |
Yes |
| How much you can contribute or defer before taxes |
Maximum deferral is subject to current IRS limits. You may make pre-tax contributions up to IRS limits. If you are eligible for catch-up contributions, you may make additional pre-tax contributions each year, up to IRS limits. |
IRS deferral limits do not apply. You may defer up to 50% of base pay and up to 100% of commissions (if eligible) and/or bonuses that you will earn during the upcoming calendar year. |
| Protection for your benefits in the event Juniper declares bankruptcy |
Yes |
No |
| Earnings accumulate tax-deferred |
Yes |
Yes |
| FICA/Medicare taxes withheld on your contributions or deferrals |
Yes |
Yes |
| Taking a distribution of your account balance |
In general, you can take a full or partial distribution of your account balance when you:
|
Each time you elect to defer your compensation, you will also make a distribution election for those deferrals. You can choose to receive each year's deferrals in a lump sum or in annual installments. Your money can either be paid on a specified date while you are still an active employee, or when you leave or retire from Juniper. |
| Taxes on your distribution |
Your distributions are subject to federal and state taxes. If you take a distribution before age 59½, it may also be subject to a 10% penalty for early withdrawal. |
Your distributions are subject to federal and state taxes. |
| Rollovers into an IRA or another employer's plan |
Yes |
No |
| Withdrawals for unforeseeable emergencies |
Yes. However, "hardship" withdrawals are subject to strict requirements. |
Yes. However, such "hardship" withdrawals are subject to strict requirements and committee approval. |
| Loans |
Yes |
No |