• Fast Facts

    • You may begin deferring into the plan on the first of the month after 90 days from your hire date.

    • Once your payroll deductions start you may make changes to your contribution amounts at any time on the Transamerica website

    • You will be credited with a year of service if you complete 1,000 hours during a consecutive 12 month period ending on each December 31. To be 100% vested for the company match you must complete 5 years of service

  • What kind of contributions can I make?

    Pre-tax contributions are made before taxes are applied to your pay. By contributing pre-tax, you defer paying taxes on contributions and earnings until you withdraw the money in retirement. After-tax contributions are made after taxes have been applied to your pay. You pay income tax on the contributions now, so you only pay taxes on your account earnings when you withdraw money in retirement. 2014 after-tax limit is $52,000. Roth contributions are a different kind of after-tax contribution. You pay income tax on the contributions now, but if you hold the account for at least 5 years, you will not pay taxes on account earnings (as long as you withdraw the money after age 59-1/2).

    Contributions can be deducted from your pay either on a pre-tax or after tax (Roth) basis.

  • Company match

    Your Company matches up to 100% of your percent of payroll contribution, up to 4% of your eligible compensation

401(k) Plan

Provider: Provider Name

Phone: 123-456-7890

Website: https://www.providerWebsite.com/