Page 16 - 2015 Enrollment Guide
P. 16
Beneits Guide
Company Match Contributions
Retirement As an incentive for you to save, the company pays matching
Security contributions for money you put into the 401(k) Savings Plan. The
company pays $1.00 for every dollar you contribute from 1% to 3% of
pay, and $.50 for every dollar you contribute from 4% to 5% of pay.
Company match contributions are made to your account along with
Retirement Savings Plan your payroll contributions.
401(k) Automatic Enrollment
The 401(k) Savings Plan helps make If you do not sign up or afirmatively decline to make salary deferrals
long-range saving easier for you. When into the plan, you will be automatically enrolled in accordance with the
you participate in the Savings Plan rules of the plan to defer 2% of your recognized compensation each
and earn the company match, it’s like pay period.
getting “free money” for retirement.
Defined Contribution
In addition, investing in a 401(k) plan In addition to the matching 401(k) contributions, the company may
is one of the few ways you can save also make deined contributions to the plan in an amount equal to
for retirement and postpone paying a percentage of your pay for the plan year. You become eligible to
taxes on your investment. Because receive the deined contribution on the irst of the month following
the 401(k) lets you put money away one year of service, as long as you work a minimum of 1,000 hours
on a pre-tax basis, and that money for the plan year and you are an employee on the last day of the plan
continues to grow tax-free until year.
you take it out, the potential for
accumulated earnings over time is Ownership of your account is called vesting. You are always 100%
substantial. The 401(k) offers a variety vested in your pre-tax contributions, any amounts you roll over into
of fund investment options. The fund the plan, as well as the company matching contributions.
choices allow you to invest in a mix of
stocks, bonds, cash equivalents, and/or If the company makes the deined contribution, you will receive it
cash. You are eligible to contribute to even if you do not participate in the 401(k) plan. This contribution has
the 401(k) if you are at least 18 years different vesting rules than the match.
old, have completed 90 days of service
and are scheduled to work a minimum
of 1,000 hours per calendar year.
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Company Match Contributions
Retirement As an incentive for you to save, the company pays matching
Security contributions for money you put into the 401(k) Savings Plan. The
company pays $1.00 for every dollar you contribute from 1% to 3% of
pay, and $.50 for every dollar you contribute from 4% to 5% of pay.
Company match contributions are made to your account along with
Retirement Savings Plan your payroll contributions.
401(k) Automatic Enrollment
The 401(k) Savings Plan helps make If you do not sign up or afirmatively decline to make salary deferrals
long-range saving easier for you. When into the plan, you will be automatically enrolled in accordance with the
you participate in the Savings Plan rules of the plan to defer 2% of your recognized compensation each
and earn the company match, it’s like pay period.
getting “free money” for retirement.
Defined Contribution
In addition, investing in a 401(k) plan In addition to the matching 401(k) contributions, the company may
is one of the few ways you can save also make deined contributions to the plan in an amount equal to
for retirement and postpone paying a percentage of your pay for the plan year. You become eligible to
taxes on your investment. Because receive the deined contribution on the irst of the month following
the 401(k) lets you put money away one year of service, as long as you work a minimum of 1,000 hours
on a pre-tax basis, and that money for the plan year and you are an employee on the last day of the plan
continues to grow tax-free until year.
you take it out, the potential for
accumulated earnings over time is Ownership of your account is called vesting. You are always 100%
substantial. The 401(k) offers a variety vested in your pre-tax contributions, any amounts you roll over into
of fund investment options. The fund the plan, as well as the company matching contributions.
choices allow you to invest in a mix of
stocks, bonds, cash equivalents, and/or If the company makes the deined contribution, you will receive it
cash. You are eligible to contribute to even if you do not participate in the 401(k) plan. This contribution has
the 401(k) if you are at least 18 years different vesting rules than the match.
old, have completed 90 days of service
and are scheduled to work a minimum
of 1,000 hours per calendar year.
16
