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GUIDE TO YOUR 2014 BENEFITS


2014 BENEFITS

401(k) Savings Plan Tax-advantaged accounts can help your money grow After 25 years You save $10,000 every year for 25 years

- $659,846 - $250,000 employee pre-tax contributions - $75,000 company pre-tax match - $334,846 earnings from investments

The Pioneer 401(k) Plan, administered by Fidelity, was designed to help you save for retirement and reach your financial goals. You can enroll in or make modifications to your account with Fidelity at netbenefits.com or by calling 1.800.294.4015. You may add or update your beneficiaries online.

After 25 years - $423,917 - $187,500 employee post-tax contributions - $236,417 earnings from investments

Investing Your Contributions

At a 7% Annual Rate of Return and 25% Federal Tax Bracket

Tax Deferred Account 401(k) Plan with annual company match of $3,000

You decide how you invest your 401(k) account in the mix of various mutual funds and cash. This mix is also known as asset allocation. There are two key factors to consider when picking your asset allocation: your risk tolerance and how many years you have left before retirement. If you need help determining your asset allocation and need financial advice related to the 401(k) Plan, you can contact Morgan Stanley by calling 1.800.733.3041 ext. 4444.

Taxable Account (e.g. CD, Savings, Money Market, etc.) $10,000 pre-tax is equivalent to $7,500 after 25% for federal income

Plan overview Eligibility

You may join the Plan on the first of the month following 90 days of service. New hires are automatically enrolled after 90 days of service.

Contributions Contributions are made with pre-tax dollars. Earnings on your investments are tax-deferred. Contributions limits In 2014 you can contribute up to $17,500 OR $23,000 if you are 50 or older Employer match Pioneer will contribute 50 cents for every dollar you contribute up to 8% of your salary. In other words, you’ll get up to 4% of your salary.

Vesting

You own 100% of contributions you make. You own Pioneer matching contributions over time; you own Pioneer contributions 100% after three years of service.

Withdrawals

You can borrow or make hardship withdrawals from your 401(k). If your employment with Pioneer ends before retirement, you can roll the money to another employer’s plan or to an IRA to keep it tax-deferred.

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