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401(k) Plan

Caleres offers a 401(k) plan to salaried and grandfathered associates.

Eligibility

You are eligible to participate if you’re a salaried associate age 21 or older. Contact retirementquestions@caleres.com or call 1-866-279-4357 for more information.

Grandfathered Associates: Associates who are at least age 55 with 10 years of service or at least age 60 with five years of service as of December 31, 2018, are eligible for grandfathered benefits.

Contributions

Unlike the Pension Plan, both Caleres and you can contribute.

Caleres Contributions Your Contributions
  1. Core Company Contributions. Caleres will make an automatic contribution of 1.5% of your eligible pay each pay period. You do not need to make any other contributions to receive the Caleres core contribution.
  2. Company Matching Contributions. Caleres will match 50% of your eligible 401(k) contributions, up to the first 6% each pay period (for a total of up to 3%).
  3. Company Profit-Sharing Contributions. Based on the company’s performance each year, Caleres may provide an annual profit-sharing contribution of up to 2% of your eligible pay.

You may contribute from 2% to 30% of your pay on a pre-tax basis, up to IRS limits.

If you’ll be 50 or older by the end of the year, you can add extra contributions to your 401(k) savings. To begin making extra contributions, contact Principal directly at 1-800-547-7754.
Note:
  • If you are an hourly associate and were eligible for the 401(k) prior to January 1, 2019, you may make personal contributions but Caleres won’t make company-matching contributions unless you are a grandfathered associate.
  • Grandfathered salaried associates are eligible to participate in the 401(k) plan’s company matching and profit-sharing contributions but Caleres won’t make core company contributions because its already contributing to your Pension Plan.

Enrolling

If you are eligible, you must enroll to make personal contributions and receive the Caleres match. To start saving through the plan, visit Principal or call 1-800-547-7754.

If you do not enroll, Caleres will set up an account for you, and you will still receive the core company contribution and discretionary profit-sharing contribution. However, you will not receive company-matching contributions unless you make personal contributions to your account.

For reference, our contract numbers are:

  • 352476 Caleres, Inc. 409a
  • 363917 Caleres, Inc. 401k

Vesting

  • You become vested in matching contributions from Caleres after three years of service. That means you can take it with you if you leave the company after three years.
  • You’re always 100% vested in the money you put in the plan.

Investment Options

You can decide how to invest your money or leave it to the experts. Vanguard Target Retirement Funds provide a mix of investments based on your age and planned retirement date. Professional fund managers monitor and adjust them over time to reduce your risk of losing money. Learn more about your investment choices.

Voting Your Shares

You have the option to vote the shares of Caleres common stock in your account in connection with the annual Caleres shareholders’ meeting. This means that when you participate in the 401(k), you are entitled to vote on matters of corporate policy and for the individuals who serve on the board of directors. You’ll receive voting instructions each year before the shareholders’ meeting

Loans/Hardships

Contact Principal for more information. Call 1-800-547-7754 or visit www.principal.com.

Learn More

Review the following for more detailed information: