Retirement

As you retire, the door closes on one stage of your life and a new door opens up to a sea of opportunities for you to consider. Design the retirement that you desire by taking time to think about the things in life that are of most value to you. Plan your new beginning around those things. Doing so will take time and energy but will be well worth it as you begin to enjoy your retirement.

401(k) Employee Savings Plan

Whether retirement is way down the road or just around the corner, it’s important to save now, so you’ll be financially prepared to retire when you’re ready. To help you meet your goals and objectives, Allegion offers the Employee Savings Plan, a 401(k) administered by Fidelity with multiple investment options and a company match.

Contributions

Your 401(k) balance grows through both employee contributions and company matching contributions from Allegion. In total, you can contribute anywhere between 1% and 50% of your salary in any combination of before-tax, Roth 401(k) and/or after-tax contributions, up to the annual IRS limits*. Your contributions and company-matching contributions are immediately vested — meaning the money is always yours.

* IRS savings limits are indexed annually. The 2026 before-tax and Roth 401(k) combined contribution limit is $24,500. There is also a total annual plan limit that includes before-tax, Roth 401(k) and after-tax contributions, and any company contributions from Allegion, which is $72,000 for 2026.

Catch-up

Employees age 50 and over during 2026 can make additional catch-up contributions up to $8,000. Employees age 60–63 in 2026 can make additional catch-up contributions up to $11,250.

Before-Tax Contributions
  • When you contribute on a before-tax basis, your contributions are taken out of your paycheck before federal, and in most cases, state and local, income taxes are deducted.
  • Pre-tax contributions lower your taxable income today. You don’t pay taxes on this money or its earnings until you take a distribution from the plan.

The IRS limit of $24,500 for 2026 applies to the total of your Before-tax and Roth 401(k) contributions.

Roth Contributions
  • Roth contributions are made to your 401(k) account after federal, state and local income taxes are taken out.
  • Unlike after-tax contributions, the investment earnings on your Roth contributions are not taxed and can be withdrawn tax-free when taken out of your account during retirement.

The IRS limit of $24,500 for 2026 applies to the total of your Before-tax and Roth 401(k) contributions.

After-Tax Contributions
  • When you contribute on an after-tax basis, your contributions are taken out of your paycheck after federal, state, and local income taxes.
  • The investment earnings on your after-tax contributions are not taxed until you take them out of your account.
  • After-tax contributions are not subject to the combined before-tax and Roth 401(k) contribution limit of $24,500 set by the IRS for 2026, but they are subject to the total plan contribution limit, which is $72,000 for 2026.

Don’t miss out on FREE money!

Allegion matches 100% of the first 6% you contribute! That means for every dollar you contribute to your 401(k), Allegion will contribute $1, up to 6% of your pay each year. The entire match is made in cash and invested in the same investment option(s) you select for your own contributions. Make sure you are contributing at least 6% to your 401(k) – otherwise you’re leaving free money on the table.

Investing

You can choose how to invest your account balance from a variety of investment options, including conservative, moderate, and aggressive funds. If you do not make an investment election, your account will be invested in the age-appropriate Vanguard Target Retirement Fund until you decide to change it.

The Employee Savings Plan investment options fall into three broad groups:

  • One Step Approach – Vanguard Target Retirement Options
  • Participant Selection of Investment Mix
  • Participant Investment – FIDELITY BROKERAGELINK®
Vanguard Target Retirement Fund

A Vanguard Target Retirement Fund – or a target date fund – is a fund that has a date in the name that reflects a specific target retirement year. The default target retirement year is the 5-year increment nearest when you will attain age 65. For each fund, the portfolio managers select and maintain a mix of investments based on the average risk tolerance of investors and the target retirement date. As you approach retirement, the mix of investments becomes more conservative.

This may be a good option for you if you prefer not to make and manage your own investment elections. There are different target date fund options which target other future years. You may choose from any of them if the default is not your preference.

Resources Available to You

We understand planning for the future can be intimidating. Fidelity is here to help you set goals and better understand your full financial picture, so you are prepared for a financially secure retirement.

  • Get a better understanding of your financial journey by taking Fidelity’s financial wellness checkup.
  • NetBenefits.com is your go-to resource for all things 401(k). You can view your account balance and personal savings plan. You also have access to the Planning & Guidance Center and a collection of financial learning resources, including articles, infographics, videos and more. For more information, see the Fidelity NetBenefits Brochure and don’t forget to download the NetBenefits app on the App Store or Google Play!
  • Join an educational workshop. Workshops are live, offered daily and can be attended from any computer or mobile device. Log on to netbenefits.fidelity.com/livewebmeetings to learn about choosing investments, balancing financial goals, preparing for retirement and more.

For more information on the resources available to you, check out this video.

Pension Plan

As a retiree, you may have access to a company-sponsored pension plan if you were hired prior to July 1, 2012. Those who do can contact the Allegion Pension Service Center for estimates of their benefit and possible distribution options. It’s important to contact them approximately 3 months before the date you wish to commence your benefit.

To prepare real-time estimates of your pension, at your discretion, you can call 1-855-331-9742 or visit www.eepoint.com/Allegion. You will need to register and then log in to the site in order to process ad-hoc estimates. This will allow you to see your benefit at various commencement dates or ages. For assistance registering or logging in, please contact the Allegion Pension Service Center.

* If you are over the age of 65, you will need to call for an estimate.

Healthcare in Retirement

As you venture into retirement, there will be a variety of changes you need to consider. For starters, it’s important to determine how you and your dependents will be covered. What will your medical coverage look like?

You should know that participation in active employee medical, prescription drug, dental, vision, Employee Assistance Plan (EAP), and flexible spending account coverage ends the last day of the month in which you separate from the company.

You can extend your medical, prescription, dental and/or vision coverage for a limited period of time (generally 18 months) by electing coverage through COBRA. Your COBRA packet will be sent to you within 30 days of your last day worked. If you choose to elect COBRA, WEX administers eligibility, monthly billing, and payments.

If you are Medicare eligible, your primary medical coverage will be Medicare. COBRA coverage would be secondary.

Pre-65 Retiree Medical Insurance

A small group of employees are eligible for pre-65 retiree medical insurance.

The Company will subsidize a portion of the cost of your coverage if you meet all of the following:

• Transferred to Schlage Lock Company, LLC when the Company became a stand-alone public company on December 1, 2013
• Were actively employed by Ingersoll-Rand or an affiliate (including being on an approved leave of
absence, receiving short or long-term disability benefits or on layoff) on January 1, 2003, and were working for a Schlage or LCN business that offered subsidized retiree medical coverage on that date
• Met the Rule of 50 age and service requirements as of January 1, 2003 (i.e. age and service, as defined below, equal at least 50)
• Are at least age 55 with 15 or more years of service when you retire from the Company, and you are not a member of an Ineligible Class of Employees as defined on page 2 of the Retiree Medical Summary Plan Description.

If you feel you meet these criteria, please contact the Allegion Benefits Team (Allegion.USBenefits@allegion.com) to confirm.

Social Security

Social Security benefits, along with your 401(k), pension and other independent savings and investments, will account for your income during retirement. In order to best determine your retirement strategy, contact a financial advisor. They will be able to help you answer all questions related to your finances.

The Social Security Administration website contains several resources including, but not limited to:

  • Estimate your retirement benefit
  • Apply for retirement benefits
  • Plan for your future using retirement calculators
  • View your current Social Security account
Looking for More Information?

Visit the official Social Security website. You can also visit socialsecurity.gov/myaccount or socialsecurity.gov/estimator to set up your account or conduct an estimate of your benefit.

Medicare

As you approach your 65th birthday, you can apply for Medicare benefits. You may begin your application within 3 months of your birthday. Medicare can provide you with comprehensive coverage when moving into retirement. Allegion provides support to you through our partner – Via Benefits Insurance Services.

Via Benefits Insurance Services is your personal benefit advisor once you are eligible for Medicare. With intuitive digital tools and friendly customer support, Via Benefits provides assistance in finding, comparing, and enrolling in an individual health plan that fits your needs and works within your budget.

What to expect when working with Via Benefits:

  • Personalized, step-by-step guidance
  • Unbiased, objective advice
  • Efficient, accurate enrollment
  • Support after you enroll

Via Benefits advisors are here for you through the complexities of the health insurance marketplace. If at any time you have questions or would like help making decisions, friendly benefit advisors are available to assist you.

A Marketplace for Your Medicare Benefits

Working with Via Benefits, you not only have access to benefit advisors, you also have access to our online Medicare marketplace. The marketplace is rich with information and easy-to-use online tools that help you evaluate and understand the plans available to you. You can use our online tools to:

  • See quotes for all Medicare product types (Medicare Advantage, Medicare Supplement, and Part D Prescription Drug Plans)
  • See quotes for dental and vision products
  • Estimate your out-of-pocket expenses for your current medications
  • Compare plans side-by-side, so you can see how they stack up against each other

Should you have any questions, reach out to a licensed Via Benefits benefit advisor.

Questions?

Reach out to a licensed Via Benefits benefit advisor by calling 1-855-359-7378 (TTY: 711). Benefit advisors are available Monday - Friday, 8:00 a.m. - 9:00 p.m. Eastern time. You can also visit the Via Benefits website.