401(k) Retirement Plan
Our retirement plan is designed to support your financial well-being by helping you save for retirement with a range of contributions, matching options, and investment choices. Below, you'll find a summary of the key features and benefits of our plan, so you can make the most of what’s offered to you. Whether you're just starting out or preparing for retirement, our 401(k) plan aims to provide flexibility, growth opportunities, and peace of mind as you work toward a secure future.
​
Key Features of Your 401(k) Profit Sharing Plan
Eligibility:
Employees are eligible on the 1st of the month following their one-year anniversary, when meeting the requirement of working at least 1,000 hours and are over 18 years of age.
Contributions:
-
Elective Deferrals: You can contribute a portion of your salary on a pre-tax or Roth (post-tax) basis, up to the annual IRS limit.
-
Automatic Contributions: To help you save consistently, the plan automatically starts your contribution at 6%, increasing by 1% annually up to 10%.
-
Employer Matching & Safe Harbor Contributions: Furmano's matches 100% of the 1st 2% that employees contribute and 50% on the next 4%. To get the full match, employees should contribute 6% and Furmano's will contribute the full match of 4%.
-
Roth Contributions: You can make Roth contributions on an after-tax basis, with tax-free qualified distributions after certain conditions have been met.
Vesting:
-
You're always fully vested in your contributions and rollover accounts.
-
Employer contributions become fully vested after two years of service.