401(k)
Your retirement plan is an important benefit you shouldn't overlook. It offers a powerful way to enhance your long-term financial well-being by investing in yourself. To be eligible for the 401(k) plan, you must have worked for the company for at least one month and be at least 21 years of age. You will be provided with enrollment information when you are eligible to enroll. You may then go to 401k.com to enroll and administer your contributions.
What is a 401(k) plan & how does it work?
It is an IRS-approved, employer-sponsored savings plan that includes:
- Multiple tax advantages
- Generous employer contributions
- Participation is voluntary
- Employees choose savings rates & investments
- Taxes are deferred until benefits are paid
Your contributions
- "Salary Deferrals" through payroll deduction
- Maximum contribution for 2025 is $23,500 (additional "catch-up allowance" of $7,500 for those age 50 or older)
- Traditional: pre-tax
- Roth: after-tax
- You can change your contribution amount anytime
What does the plan offer?
Once you are eligible to participate, we highly recommend doing so to take advantage of all that our 401(k) plan has to offer.
THIS INCLUDES...
4%
Company Match
The company matches $1.00 for $1.00 saved by each employee on the first 4% of compensation.
100%
Vesting Schedule
The vesting schedule is 100% at 6 years of service. Below is the complete vesting schedule: 20% - year two 40% - year three 60% - year four 80% - year five 100% - year six
You can withdraw money from the 401(k) account only for the following reasons:
At the end of your employment, retirement (age 65), upon reaching 59 and a half years of age, financial hardship (as defined by IRS), death, disability, from monies rolled into the plan (for any reason). You may also take a loan from your account.