THE GIFT THAT KEEPS ON GIVING
PENSION PLAN
After two years of employment, you may be eligible for the company sponsored pension plan. This retirement account is funded 100% by your AMIkids employer. Contributions are made based on years of service, see below for contribution schedule.
Contribution Schedule
Years of service
% of Salary
Less than 10 years
5%
10 years or more
15%
These contributions COST YOU NOTHING , it’s FREE money into a retirement account that you own! Each plan year in which a contribution is made, and in which you are an eligible participant, an allocation will be made into your account.
You have 100% vested interest in your account at all times!
Hardship withdrawals and loans are not permitted from the pension plan. Please contact the payroll department with any questions relating to the pension.
VOLUNTARY 403(b) RETIREMENT SAVINGS PLAN
To help prepare you for the future, AMIkids offers a 403(b) savings retirement plan through Fidelity Investments. This plan is 100% funded by you via PRE-TAX payroll deductions, there is no company match.
Once you enroll directly with Fidelity Investments you must notify your Business Manager or the Benefits Specialist to begin payroll deductions. Per your contribution request, AMIkids will forward these deductions to Fidelity Investments.
With this plan, you can save a portion of your pay on a pre-tax basis (federal and most state income taxes are deferred on amounts contributed), up to $18,000 in 2017. Taxes are also deferred on your investment earnings within the plan.
An additional deferment is available to employees age 50 and over (by December 31 st) . These employees can defer up to $6,000 in addition to their regular contribution amount, for a combined total contribution limit of $24,000 in 2017.
You are always 100% vested in your contributions!
Hardship withdrawals and loans are not permitted from the 403(b) plan. Please contact Fidelity Investments with any questions relating to your 403(b).
WHEN CAN I START CONTRIBUTING?
You are eligible for the 403(b) so long as you’re working 30+ hours per week, you may start contributing immediately and you may sign up at anytime!
13
Made with FlippingBook - Online Brochure Maker