401(K) Retirement Savings Plan
Whether retirement is way down the road or just around the corner, it’s important to have savings goals and specific investment objectives. To help you meet your goals and objectives, we offer a 401(k) Retirement Savings Plan, administered by Voya, with multiple investment options and a company match. Key details and features of our plan are listed below.
Employee contributions
You can contribute up to $23,000 in 2024, and if you are age 50 or older, you may contribute up to an additional $7,500 as a “catch-up” contribution.
Contributions may be made on a pretax basis.
Employer contributions
The company match is $.50 on every dollar that the employee contributes up to 7% of the employee’s deferred salary.
Vesting
Vesting refers to your ownership of the money in your 401(k). You will be 100% vested in the company match after three years of service. You are always 100% vested in your contributions to the plan.
More Information
- Enrollment in the 401(k) plan is quarterly; however, you can make changes to your contributions at any time.
- Voya has many different investment options for you to choose from, along with tools and resources you can use to determine which options best meet your investment objectives.
For additional details about the 401(k) Retirement Savings Plan or to change your contribution rates or investment elections, visit
www.voya.retirement.voya.com or call 800–584–6001.
