401(k) Savings Plan

401(k) Savings Plan  


Masonite is committed to supporting your financial well-being — today and tomorrow. The Masonite 401(k) Plans help our employees meet one of life’s most important goals — financial security at retirement. The Plans offer an easy, tax-advantaged way to save for your future financial needs.


Key advantages

  • Company match
  • Current income tax savings
  • Tax-deferred investment growth
  • Wide range of investment options
  • Convenient payroll deductions


Masonite 401(k) & Retirement video

Masonite 401(k) & Retirement video (Spanish version)


Manage your account

Visit Charles Schwab or call 1.800.724.7526 to enroll or manage your plan account:

  • Enroll in the plan.
  • Check your balance.
  • Change your contribution rate.
  • Manage your investments.
  • Update your beneficiary.
  • Use planning tools and calculators.
  • Access forms and documents.
  • Schwab MoneyWise®



Visit the recording at any time by clicking on the title below.

7 Fundamentals You Need For Investing Success

Find out more about seven key investing principles that can guide you in developing, implementing, and staying on track with your plan. Learn more about Schwab Investing Principles provided by Charles Schwab & Co., Inc. This workshop is for people who wish to expand their investing knowledge beyond their 401(k) plan.

Your Contributions

Masonite 401(k) Plans allow you to make pre-tax contributions, catch-up contributions, Roth contributions, and/or after-tax contributions.


Pre-tax Contributions

Any pre-tax contributions you make are deducted from your eligible pay and may provide an immediate tax benefit since these contributions reduce your current taxable income. Upon withdrawal, you are required to pay taxes on the contributions and any earnings. You may contribute up to 100% of your eligible pay on a pre-tax and/or Roth 401(k) basis each year. Your total pre-tax and Roth 401(k) contributions cannot exceed the annual IRS contribution limit. Contact Charles Schwab or Human Resources for the current IRS contribution limit.


Catch-Up Contributions

It’s not too late to make up for lost time. If you’ll be 50 or older this year, take advantage of the opportunity to contribute up to additional funds to your 401(k).


Roth 401(k) Contributions (Non-Union 401(k) Plan Only)

Roth 401(k) contributions are made to your Plan account after taxes are deducted from your eligible pay, so they do not provide an upfront tax benefit. However, withdrawals of Roth 401(k) contributions and any earnings are tax-free, provided certain criteria are met. As a reminder, your combined pre-tax and Roth 401(k) contributions cannot exceed Plan contribution limits.


After-tax contributions (Non-Union 401(k) Plan Only)

Made to your Plan account after taxes are deducted from your eligible pay, these contributions allow you to save beyond the IRS limit placed on pre-tax and Roth 401(k) contributions. You may contribute up to 5% of your eligible pay in after-tax contributions. Any earnings on after-tax contributions are taxable upon withdrawal. After-tax contributions are subject to the annual additions limit which is the total dollar amount that you and your employer may contribute to your Plan account each year. Contact Charles Schwab or Human Resources for this year’s annual additions limit. After-tax contributions are not eligible for the company match.


In-Plan Roth Rollovers (Non-Union 401(k) Plan Only)

In-plan Roth rollovers allow you to convert all or a portion of your eligible balances to Roth savings while leaving the money in your Plan account. When you retire, you will not pay taxes on the converted balances and any related earnings, as long as certain criteria are met. There is no fee for in-plan Roth rollovers, but you must pay income taxes on any money you roll over (including any earnings) that has not been taxed before. You can roll over all or a portion of any eligible pre-tax and/or after-tax balances you accumulate in the Plan. Or, you can set up a standing election to arrange for your future after-tax contributions to roll over to Roth savings automatically.



Charles Schwab

  • What's the difference?

    Pre-tax vs. Roth after-tax contributions

    Pre-Tax Contributions Roth After-Tax Contributions
    • The money goes into your plan account before taxes are deducted, so you keep more of your take-home pay.
    • Since you don’t pay taxes at the time you contribute, you’ll owe taxes on both your contributions and any investment earnings when you withdraw your money in retirement (when you may be in a lower income tax bracket).

    • The money goes into your plan account after taxes are withheld.
    • In exchange for paying taxes now, both your contributions AND any associated earnings can be withdrawn tax-free in retirement, provided you meet two requirements:
      • At least five years have elapsed since your first Roth contribution.
      • You are at least 59½ or the withdrawal follows death or total disability.
    Keep in mind that company contributions are made on a before-tax basis, no matter which contribution type(s) you select.
  • Meet the match!

    Are you making your money work as hard as you do? Try to contribute at least 5% to take full advantage of the match — otherwise, you’re saying “No, thanks” to free money!


Employees in the non-union 401(k) plan become fully vested in company contributions after completing three months of service with Masonite. Union employees should refer to the Plan’s Summary Plan Description (SPD), log on to the Charles Schwab website, or call 1.800.724.7526.



Employees are immediately eligible to enroll in the 401(k) Plans. Contributions will be deducted once you meet the service eligibility requirements, which is three months for non-union employees. Union employees should refer to the Plan’s Summary Plan Description (SPD), log on to the Charles Schwab website, or call 1.800.724.7526 if you have questions about your service eligibility.

For existing employees, contributions will begin as soon as possible, based on when you elected to contribute and your payroll cycle.


  • What if I don’t enroll?

    For new hires, if you do not actively enroll, you will be automatically enrolled in the plan on the 1 year anniversary of your hire date. You will be automatically enrolled at a contribution rate of 3%. This means 3% of your eligible compensation will be deducted from your paycheck on a pre-tax basis and contributed to your Plan account, unless you designate a different contribution percentage or elect not to participate (“opt out”) by calling 1.800.724.7526 or logging in to Charles Schwab.


    Upon enrollment, you will also be elected to participate in the automatic increase program, which increases your contribution percentage by 1% each year, unless you elect to opt out.


    Note: Automatic enrollment and automatic increase program applies to only to the non-union 401(k) plan.

  • Have you named a beneficiary?

    It's important to designate a beneficiary to receive the value of your 401(k) account in the event you die before beginning to receive your benefit. As personal circumstances change, be sure to keep that information up-to-date. Visit the Charles Schwab website or call 1.800.724.7526 to add or change a beneficiary.
Before investing, carefully consider the funds’ or investment options’ objectives, risks, charges, and expenses. Call 1.800.724.7526 for a prospectus and, if available, a summary prospectus, or an offering circular containing this and other information. Please read them carefully. Investing involves risk, including the risk of loss.