401(k) Retirement Savings Plan

What you need to know about retirement and
beginning your Retirement Plan.

• Set a retirement income goal
• Create a retirement savings strategy
• Learn about diversification
• Choose among the available investment options
• Stay informed about economic conditions, tax
      regulations and Social Security
• Keep your retirement savings strategy up-to-date
• Rebalance your investments

Eligibility
Participation in the Plan is open to both full-time and part-time employees who have reached the age of 21 and have completed 6 months of service, as defined by the Plan.

Enrollment Period
You will automatically be enrolled in the Plan on the first business day of any month once you have met the eligibility requirements at 3% of your pay, unless you notify us that you elect not to participate.  

How much can I contribute to my Retirement Savings Plan?
You decide how much you want to contribute on a bi-weekly basis. You may choose to make before-tax contributions up to 100% of your eligible pay but not to exceed the 2006 contribution maximum amount of $15,000. The monies you contribute to the Plan are always 100% vested.   (Vested refers to your “ownership” of your account)

Advantages to enrolling in the 401(k) Retirement Savings Plan:

• You may increase or decrease the amount of your contributions once per month.  
• You may stop your contributions at any time.  
• If you have an existing retirement plan account with a prior employer, you may transfer/rollover the account at any time.  
• Employer Contributions: The plan also provides for employer matching contributions. The basic matching contribution is an amount equal to 20% of your before-tax contributions, up to the first 6% that you contribute.
• You may borrow from the Plan, using your account balance as security.  
• You decide how your monies will be invested by selecting from the many investment options provided to you under the Plan. You can change your investment allocations daily.

Employer contributions to the Plan, plus any earnings they generate, are vested as follows:

Years of Service 1 Year  2 Years 3 Years 4 Years 5 or more Years

Vesting Percentage 20% 40% 60% 80% 100%