|
- Hourly employees – Once you begin contributing to the Thrift Plan, the Company will match $2 to every $1 you contribute on a pre-tax basis up to 3% of your eligible compensation. This means if you contribute 3% you will receive the maximum Company Match contribution of 6%. Catch-up and after-tax contributions are excluded from the Company Matching contribution.
- Salaried employees - Once you have satisfied the 1 year eligibility requirement, the Company will contribute the Company Basic contribution of 3% of your eligible pay to your 401(k) account whether you contribute or not. In addition, the Company will match $2 to every $1 you contribute on a pre-tax basis up to 3% of your eligible compensation. This means if you contribute 3% you will receive the maximum Company Match contribution of 6%, in addition to the 3% Company Basic contribution. Catch-up and after-tax contributions are excluded from the Company Matching contribution.
|