▪ Retirement Benefits

R E T I R E M E N T B E N E F I T S

4 0 1 ( k ) & P r o f i t S h a r i n g

A 401(k) plan encourages you to accumulate savings for retirement through convenient pre-tax and Roth (after-tax) payroll deductions and generous company contributions. As an employee, you are eligible to participate in the 401(k) plan the first of the month following your hire date. The 401(k) plan offers a wide array of investment funds from which to choose, including stock, bonds, and blended (target date) funds.

You are allowed to allocate a portion of your pay (from 1% to 100%) into the plan, up to maximum amounts set by the IRS. Those who are 50 years of age or older are also eligible to make “catch-up” contributions.

Starkweather & Shepley will match dollar for dollar up to 3% of your contributions to the plan. All of your contributions are immediately 100% vested. If you do not enroll when you are first eligible, you will be AUTO ENROLLED at a 3% contribution rate. You are vested in Starkweather & Shepley’s contributions according to the years of vesting services. This vesting schedule begins on the first date of your employment.

Employer Match:

Your Contribution 1% 2% 3% 4% 5% 6%

Company Match 1% 2% 3% 3% 3% 3%

Vesting Schedule: You must work 1000 hours in a year for vesting purposes

End of Year

1 2 3 4 5 6

% Vested 0 20% 40% 60% 80% 100%

Profit Sharing:

Also requires 1000 Hours of service annually

Provides for a deferred compensation payment into your 401(k) account. Historically this has been approximately 8%.

This is a discretionary annual contribution.