401(k) Retirement Plan
Simple steps today can build big savings with our 401(k) Retirement Plan.
M/I Homes wants you to feel secure and prepared for life after your career. In partnership with Fidelity Investments, our 401(k) Profit Sharing Plan is designed to help you plan ahead and feel prepared for retirement.
Automatic Enrollment/Eligibility
If you are a full-time employee, you are automatically enrolled in the 401(k) Profit Sharing Plan at a 3% pre-tax contribution following 90 days of employment. If you are a part-time employee, you are automatically enrolled at a 3% pre-tax contribution after 1 year of service and 1,000 hours worked.
Employee Contributions
You are eligible to contribute a maximum of 85% of your 401(k) eligible earnings, up to the annual IRS limit. Catch-up contributions will begin if you are age 50 or older and have contributed to the IRS deferral limit annually. For employees earning $150,000 or more, in prior year FICA wages, catch-up contributions will be made as Roth contributions. For more information, view the Roth Catch-up & FAQ. You also have the option to opt out of the Plan by changing your pre-tax savings percentage to 0%. Learn how to enroll here.
Pre-Tax Versus Roth Contributions
You have the option to contribute pre-tax or Roth contributions. Pre-tax contributions are deducted from your paycheck before federal, state, and some state-specified income taxes, so they never show up on your W-2 as taxable income. The money grows tax-deferred and is taxed at the time of withdrawal. Roth contributions are also known as post-tax contributions, meaning you pay taxes on contributions now, and then qualified withdrawals are tax-free. To learn more about Roth contributions, click here.
Contact Information
Account Ownership
In a retirement plan, the term “vesting” refers to who owns the funds. You are always 100% vested in the funds you and M/I Homes contribute to, along with any earnings, even if you leave the company.
Automatic Increase
Your 401(k) contribution will automatically increase by 1% on July 1st of each year, up to a maximum of a 10% contribution rate. You may opt out by following these steps before July 1st each year and prior to the first payroll in July.
Benefits of Contributing:
• Contributions are made through convenient payroll deductions
• There are a variety of professionally managed investment funds and M/I Homes stock to choose from
• Adjust your contribution rate to meet your savings goals
• Ability to change your contribution deduction throughout the year. You can elect to contribute 0% – 85% of your pay
M/I Homes Employer Profit Sharing Contribution
M/I Homes may contribute a discretionary amount to your 401(k) account annually. The contribution is based on a percentage of base pay or commission value (maximum of $50,000 in eligible compensation). You are eligible for the Company contribution based on the first date of the quarter after one year of service and 1,000 hours worked, and if you are employed through the end of the year unless you are age 65 or older at time of separation. You are not required to contribute to the 401(k) to receive the Company contribution.
Example of Profit Sharing Contribution
If you were hired on May 3rd, you would become eligible for the Plan on July 1st of the following year, and you would receive your first deposit the following January. Company contributions are deposited annually in January. Your contribution would be based on eligible compensation (up to $50,000) earned from July 1st to December 31st. Eligible compensation is regular pay, overtime, Paid Time Off, and commissions. This would not include any bonuses or phone/auto allowance. The average contribution over the last three years is $4,000.
Receiving Your First Contribution
| Hire Date | Eligibility Date | First Contribution Deposited |
|---|---|---|
| January 1st, 2026 – March 31st, 2026 | April 1st, 2027 | January 2028 |
| April 1st, 2026 – June 30th, 2026 | July 1st, 2027 | January 2028 |
| July 1st, 2026 – September 30th, 2026 | October 1st, 2027 | January 2028 |
| October 1st, 2026 – December 31st, 2026 | January 1st, 2028 | January 2029 |
Eligibility is the first available quarter after 12 months of full-time service.
This Benefits Website provides general information for our benefits-eligible employees; however, more detailed information is available within the plan documents and legal contracts between our company and the insurance providers. In case of any discrepancy between this Benefits Website and the plan documents, the plan documents always govern and determine your exact benefits. In addition, the company reserves the right to modify or terminate any benefit plan at any time. Benefits are not a guarantee of employment.