Your Contributions to the Santander 401(k) Plan You have a choice in how you contribute to the 401(k) Plan: pre-tax contributions, Roth contributions, after-tax contributions or a combination of all three. To maximize the Santander match, you need to contribute 6% through pre-tax and Roth contributions. You can contribute up to the annual IRS limits of $23,500 in 2025 for pre-tax and Roth contributions. If you’re age 50 and older, you can contribute an additional $7,500 in catch up pre-tax and Roth contributions. A separate annual limit applies to after-tax contributions. Log in to Empower to find out how much you can contribute on an after-tax basis.

Santander Matching Contributions

Santander matches 100% of the amount you contribute, up to 6% of your eligible pay, of your pre-tax and Roth contributions. Amounts you and Santander contribute are 100% vested, which means you own the money in the account.

For more information about the Santander 401(k) plan or to enroll, visit Empower at www.san401k.com. You can also access Empower through single sign-on from the SanBenefits home page.

Health Savings Account (HSA) HSAs offer another way to save and plan for future medical expenses. If you’re enrolled in the HSA Choice Plus plan for medical coverage and you’re eligible to open an Optum HSA®, the money you and Santander contribute to your Optum HSA is not taxed and can be invested. The earnings aren’t taxed, and you won’t be taxed on distributions used to pay for eligible out-of-pocket medical, prescription, dental and vision expenses — even in retirement. See the Health Savings Account section for more information.