401k and Pension Plans

401(k) PLAN

You will be automatically enrolled with a pre-tax payroll  deduction of 2% of eligible earnings after 30 days of  employment. However, you can elect to start sooner, change  your contribution rate, or opt out of automatic enrollment.  EVRAZ will match 50% of the first 4% of eligible pay that  you contribute to your Plan account. Company matching  contributions are automatically vested and are contributed on  a pre-tax basis each pay period.

You can also choose your funds and designate your  beneficiaries, all on the Voya website. If you do not make an election, you will automatically be invested in an age appropriate Vanguard Target Retirement Fund. Visit evraz.voya.com and register to get started. Once  logged in, you can designate to contribute eligible pay in  combined pre-tax and/or Roth 401(k) contributions each pay  period up to the federal limits. You may roll over anybalances  from a prior employer’s qualified retirement plan to your Plan  account.

 

Pension Plan

The Pension Plan for Bargaining Employees of EVRAZ Rocky  Mountain Steel is designed to provide you with a monthly  income when you retire. Normally, you may draw your full  benefit beginning at age 65. However, if you have at least 15  years of service, you may draw your full benefit beginning at  age 62, or a reduced benefit as early as age 55. The monthly  pension that is paid to you once you retire depends on your  length of service and the rate in effect during each year of  service. The monthly benefit is $84 per year of service, for  service years beginning on or after January 1, 2023.

Vesting

The pension plan has a five-year vesting period. Vesting  refers to the ownership of your account. After five years of  service, you are fully vested in the pension plan. If you retire  or separate from the company prior to completing five years of  service, you do not have a vested benefit in the pension plan.