Page 24 - Yaskawa 2022 Open Enrollment Guide
P. 24
Retirement Plans
401(k) Plan Profit Sharing Plan
This program enables you to save for retirement Participation in the Yaskawa America, Inc. Proit
on a Pre-Tax or Post-Tax basis. You may elect Sharing Program gives Associates the opportunity
to defer from one to 80% of your pay. Yaskawa to share in the growth and success of Yaskawa
ofers several investment options (with a range America, Inc. Your account growth depends on the
of risk). You are eligible to participate in this plan proitability of the company, which greatly depends
on the next entry date following your date of upon the combined eforts of all Yaskawa America,
hire. Employer contributions to the Proit Sharing Inc. employees.
and 401(k) accounts are 100% vested after three
(3) years of service with Yaskawa America, Inc. All YAI-DMD Associates are eligible to participate
Employee contributions are vested immediately. in the Plan, except expatriates transferred from
401k contributions and fund allocation can be YEC companies. The Associate must be eligible to
adjusted throughout the year to help you meet your participate in the 401(k) plan, employed on the last
retirement goals. day of the Plan year, and work at least 1,000 hours
during the year. If an Associate worked at least
Please note that Yaskawa America, Inc. will match 1,000 hours, but has been employed for less than
your 401(k) percentage election up to 6% of the one year, proit sharing will be a prorated amount.
Associates earnings. In addition, changes to your This amount is deposited into the associate’s 401(k)
401(k) deductions can be made any time during the account per Plan provisions. New Associates hired
plan year. will be eligible for this bonus on a prorated basis
as follows:
# Months Worked in First
Hire Date Plan Eligibility Date Plan Year Following 6 Months Proration First Year Eligible
Eligibility
01/01 07/01–same year 6 0.50
01/02–02/01 08/01–same year 5 0.42
02/02–03/01 09/01–same year 4 0.33
03/02–04/01 10/01–same year 3 0.25
04/02–05/01 11/01–same year 2 0.17
05/02–06/01 12/01–same year 1 0.08
06/02–07/01 01/01–following year 12 1.00
07/02–08/01 02/01–following year 11 0.92
08/02–09/01 03/01–following year 10 0.83
09/02–10/01 04/01–following year 9 0.75
10/02–10/01 05/01–following year 8 0.67
10/02–12/01 06/01–following year 7 0.58
12/02–12/31 07/01–following year 6 0.50
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401(k) Plan Profit Sharing Plan
This program enables you to save for retirement Participation in the Yaskawa America, Inc. Proit
on a Pre-Tax or Post-Tax basis. You may elect Sharing Program gives Associates the opportunity
to defer from one to 80% of your pay. Yaskawa to share in the growth and success of Yaskawa
ofers several investment options (with a range America, Inc. Your account growth depends on the
of risk). You are eligible to participate in this plan proitability of the company, which greatly depends
on the next entry date following your date of upon the combined eforts of all Yaskawa America,
hire. Employer contributions to the Proit Sharing Inc. employees.
and 401(k) accounts are 100% vested after three
(3) years of service with Yaskawa America, Inc. All YAI-DMD Associates are eligible to participate
Employee contributions are vested immediately. in the Plan, except expatriates transferred from
401k contributions and fund allocation can be YEC companies. The Associate must be eligible to
adjusted throughout the year to help you meet your participate in the 401(k) plan, employed on the last
retirement goals. day of the Plan year, and work at least 1,000 hours
during the year. If an Associate worked at least
Please note that Yaskawa America, Inc. will match 1,000 hours, but has been employed for less than
your 401(k) percentage election up to 6% of the one year, proit sharing will be a prorated amount.
Associates earnings. In addition, changes to your This amount is deposited into the associate’s 401(k)
401(k) deductions can be made any time during the account per Plan provisions. New Associates hired
plan year. will be eligible for this bonus on a prorated basis
as follows:
# Months Worked in First
Hire Date Plan Eligibility Date Plan Year Following 6 Months Proration First Year Eligible
Eligibility
01/01 07/01–same year 6 0.50
01/02–02/01 08/01–same year 5 0.42
02/02–03/01 09/01–same year 4 0.33
03/02–04/01 10/01–same year 3 0.25
04/02–05/01 11/01–same year 2 0.17
05/02–06/01 12/01–same year 1 0.08
06/02–07/01 01/01–following year 12 1.00
07/02–08/01 02/01–following year 11 0.92
08/02–09/01 03/01–following year 10 0.83
09/02–10/01 04/01–following year 9 0.75
10/02–10/01 05/01–following year 8 0.67
10/02–12/01 06/01–following year 7 0.58
12/02–12/31 07/01–following year 6 0.50
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