401(k) PLAN

The Eastman Investment and Employee Stock Ownership Plan (EIP) is a combination of a tax-qualified 401(k) plan and a tax-qualified Employee Stock Ownership Plan (ESOP) that can help you prepare financially for retirement.

Make the Most of This Important Benefit

Your Contributions

New participants are automatically enrolled at 7% deferral rate (subject to the annual limit set by the Internal Revenue Service). All participants deferring between 1% and 9% will have their deferral rate increased by 1% annually with the “Auto Increase” feature until 10% deferral is reached. You may change your deferral rate, investment choices, or opt out of the automatic enrollment at any time.

Company Matching

If eligible, Eastman matches 50% of every dollar you contribute through your deferral, up to 7%. Contribute enough to receive the company match if you are eligible.

Eastman’s Contribution to Your 401(k) Account

The 401(k) plan includes an annual Retirement Savings Contribution (RSC). Eligible participants will receive an RSC allocation equivalent to 5% of the year's RSC-eligible earnings into your 401(k) account. The RSC does not apply toward the annual IRS limit for employee 401(k) contributions.

Additional Plan Features

Save Post-Tax Income. Roth contributions are taxed before going into the account and are not taxed upon withdrawal as long as the withdrawal is a qualified distribution. Eastman's plan allows you to hold both the traditional pre-tax account and a Roth account within the 401(k) plan. Note that contribution limits are combined across these accounts, but you can split your contributions between the two any way you like.
Earnings Can Grow Tax-Free. With the Roth in-Plan conversion feature, you have the opportunity to build more tax-free income by converting contributions to Roth so potential earnings grow tax free*
You Can Save Even More. You are able to save even more into the 401(k) plan with after-tax dollars (up to 10%), and with the Roth in-plan conversion feature you have the chance to potentially build more tax-free retirement income.
Added Flexibility. The Fidelity BrokerageLink® allows you to invest up to 95% of your account balance.
Automatic Savings. The Annual Increase Program (AIP) automatically increases your savings contribution by 1% each year until your contribution reaches 10% (if your current election is between 1% and 9%).

Planning and Advice

In addition to the many tools and resources available on www.netbenefits.com, employees are able to reach out to Fidelity for help with a wide range of financial planning needs. Fidelity Planning and Advice Professionals are available to:

Review your personal finance situation
Help you understand your contribution options
Explain how Roth in-plan conversions work
Help you complete a Roth in-plan conversion or sign up for automatic conversion of after-tax contributions

Just call the Fidelity Service Center at 1-800-270-4015 and ask to speak with a Planning and Advice Professional. We also encourage you to connect with your own trusted financial advisor.

You can also log onto NetBenefits to view and manage your account.

IRS Limitations

The Internal Revenue Service sets limits on your contributions each year.

Less Than 50 Years Old
2022	$20,500
2023	$22,500

50 Years or Older*
2022	$27,000
2023	$30,000

* If you are or will be age 50 or older during the calendar year, you are eligible to make catch-up contributions to the Plan as reflected in the table above.

myFiTage Retirement Readiness Tool

myFiTage is a secure, strategic online tool that estimates the first year your retirement resources are projected to cover your living expenses for the rest of your life. It factors in your health, savings, income and more to illustrate how many factors may impact your retirement. Unlike other tools that tell you the dollar amount you need to save, myFiTage tells you the age you can reasonably expect to retire based on where you are today and how changing behaviors may lower or improve your FiTage based on certain assumptions.

Use myFiTage to take control of your financial wellbeing by understanding how small changes can help you reach your goals today and in the future. With the myFiTage tool, you can:

Find out the estimated age you can expect to retire based on where you are today
See how changing your saving, investing and health behaviors can impact your estimated retirement age
Access suggestions and tips for improving your financial wellness

FiT Scores can easily and securely connect your spending, emergency savings, borrowing, and net worth with your retirement and health savings to give you a complete financial picture. By simply and securely linking outside financial account information into myFiTage, you can make the process even easier and unlock even more real-time support to improve your financial wellbeing.

How Can You Improve Your FiTage?

Take steps now to improve your financial wellness. It's never too late to invest in yourself.

Save at least some of your HSA for retirement
Contribute the maximum allowed in the 401(k) Plan to receive the full company contribution, if eligible for the match
Increase your 401(k) by an additional 1%
Review your 401(k) and HSA investment strategy

Access the myFiTage tool on Benefits, Health & Money, under Personal Zone, My Money.

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Fidelity

1-800-270-4015