Sodexo 401(k)

Sodexo is a food services and facilities management company that operates in over 53 countries. As of 2022, the company had 422, 000 employees from across the world. Although food services is its largest business segment, Sodexo has diversified into other areas like facilities management services and hospitality services. If you are an employee of Sodexo, you get access to various benefits, including a 401(k) plan.

Sodexo employees are eligible to participate in the company’s 401(k) plan if they are at least 21 years old and working in an eligible unit. If you don’t enroll in the plan within 30 days of becoming eligible, you will be automatically enrolled in the plan. You will also receive a company match on your contributions at 50% on up to 6% of your eligible pay.

Sodexo 401k provider

Sodexo offers a 401(k) plan known as Sodexo 401(k) Employees’ Retirement Savings Plan and Trust. This 401(k) plan is offered through Voya Financial, which had $741 billion in assets under management as of December 31, 2022. If you want to access your Sodexo Inc. 401(k) plan, you can go to the Voya Financial website and use your username and password to log in.

Sodexo 401k login

You can access your Sodexo 401(k) Employees' Retirement Savings Plan and Trust through the Voya Financial website. You will be required to enter your username and password on the login page. If you have forgotten your username or password, you will be able to retrieve this information by providing your personal information, including your Social Security Number (SSN).

Sodexo 401k match

Sodexo offers a 50% match on up to 6% of an employee's eligible pay. Any contributions above the first 6% are considered supplemental savings and are not eligible for company matching. Sodexo makes quarterly matching contributions to the employees' 401(k) accounts, and you must be employed on the last day of the quarter to receive the quarterly match. Sodexo has a vesting schedule of 3 to 4 years of service, depending on whether you were hired before or after April 1, 2009.

Sodexo 401k customer service

You can contact the Sodexo 401(k) customer service at 1-866-7MY-PLAN (1-866-769-7526) anytime between Monday to Friday from 8.00 am to 8.00 pm EST. If you are following up on a pending QDRO, you can contact the Voya QDRO processing center at 1-904-791-2490.

Sodexo 401k loan

Sodexo 401(k) plan participants can take a 401(k) loan against their retirement savings. The minimum amount you can borrow is $400, while the maximum loan amount you can borrow is the lesser of 50% of your vested 401(k) balance, or $50,000. The 401(k) loan has a repayment period of 4 years, or 10 years if you are borrowing to purchase your primary residence.  

Sodexo Inc. allows only one 401(k) outstanding loan at any time, and there is a 30-day waiting period between loans. You can request a 401(k) loan by logging into your Voya Financial 401(k) account. The 401(k) plan record keeper will mail your check within 3 to 5 days after the loan request is submitted.

Sodexo 401k after termination

If you have a 401(k) plan with Sodexo Inc. and you are terminated, you may have several options. Generally, you will be eligible to receive your vested 401(k) balance, which includes your 401(k) contributions, rollovers from previous employers, vested company match, and any investment gains and losses.

If your 401(k) balance is less than $1000, Sodexo will cash out your 401(k) and send you your account balance minus 20% tax withholding within 30 days. If your 401(k) balance is more than $1,000, you can leave the money behind, make a withdrawal, or roll over to another plan. If you choose to receive payments, you can request a lump sum payment, deferred payments, or use your account balance to purchase an annuity contract.

Sodexo 401k withdrawal

You can withdraw funds from your Sodexo 401(k) plan starting from age 59 ½. You can choose to withdraw your contributions, rollover contributions, and the vested employer contributions.

If you are below age 59 ½ and actively employed, you can choose to withdraw your rollover contributions and after-tax contributions. If you have pre-tax savings, you will only be allowed to make a withdrawal if you have a qualifying hardship such as medical expenses and funeral expenses.

Sodexo 401k early withdrawal

You may be allowed to make an early withdrawal before age 59 ½ if you have a qualifying hardship. Some of the eligible financial hardships may include medical expenses, funeral expenses, or foreclosure.

Before you can request a hardship withdrawal from your Sodexo 401(k) plan, you must have exhausted your after-tax distributions, rollover contributions from previous plans, and 401(k) loans allowed in the plan.

If the request for a hardship withdrawal is approved, you will receive no more than the amount required to satisfy the financial need. Also, you will be suspended from participating in the plan for 6 months, and you will only be able to contribute to the 401(k) plan once the suspension period lapses.

If you don’t qualify for a hardship withdrawal, you can consider borrowing against your Sodexo 401(k) savings. You can take a 401(k) for any purpose, and the maximum amount you can borrow is limited to the lesser of 50% of your vested 401(k) balance, or $50,000. Unlike with a hardship withdrawal, you won’t be suspended from participating in the 401(k) plan; you will be required to repay the loan over time, and still contribute to the plan.

Sodexo 401k rollover form

You can find the Sodexo 401(k) rollover form by logging into your Voya Financial 401(k) account. You will be required to complete the rollover form by indicating the amount you want to roll over, where you want to roll over, the new retirement plan's account number, your signature, etc. Remember to request a direct rollover to the new plan so that the funds are transferred directly to the new plan’s custodian.

Sodexo 401k account number

You can find your Sodexo 401(k) account number on your 401(k) statement or by logging into your Voya Financial account. Check your old 401(k) statements to see if your account number is indicated. You can also log in to your Voya Financial account or contact customer service.

Sodexo 401k phone number

You can contact the Sodexo 401(k) customer service at 1-866-7MY-PLAN (1-866-769-7526) between Monday to Friday, from 8.00 AM to 8.00 PM EST.

Sodexo 401k administrator

The Sodexo 401(k) plan administrator is Patrick Carson. You can contact the 401(k) plan administrator at 1-301-987-4480. You can also write to the plan administrator at 9801 Washingtonian Boulevard, Gaithersburg, MD, 20878.

Sodexo 401k eligibility

You can enroll in Sodexo 401(k) plan if you are 21 years or older and you work in an eligible unit. Once you become eligible to enroll in the 401(k) plan, you can join the plan at any time and start making contributions. If you don’t enroll within 30 calendar days since you became eligible to enroll, you will be automatically enrolled in the plan.

When you join the 401(k) plan, you will receive an enrollment package and your new 401(k) password. You will be automatically enrolled at 1% of your eligible pay, and this contribution will be increased by 1% on each anniversary of your enrollment date until the contribution rate reaches 3%.

Sodexo 401k vesting

You will become fully vested in the employer's matching contributions after 3 or 4 years of service, depending on when you were hired. If you were hired before April 1, 2009, you will become fully vested after 3 years of service. If you leave Sodexo before the 3 years, you will forfeit the full employer match.

If you were hired after April 1, 2009, you will become 50% vested after two years of service, 75% vested after three years of service, and 100% vested after four years of service. You can also become fully vested in the company match when you retire, become disabled, or die.

Sodexo 401k app

You can access and manage your Sodexo 401(k) retirement account on the Voya Retire Mobile App. The app is available for Android and iOS devices.

Sodexo 401k summary plan description

You can request the Sodexo summary plan description by writing to the plan administrator at 9801 Washingtonian Boulevard, Gaithersburg, MD, 20878. You can also call the 401(k) plan administrator at 1-301-987-4480.