401(k) Savings Plan
Planning for your retirement is an important part of life. At SHAZAM, you receive plenty of assistance in preparing for your retirement years. You may contribute up to the maximum IRS contribution cap for the year of your eligible compensation on a tax-deferred basis to the ITS, Inc./SHAZAM 401(k) Plan. You can enroll in the plan on the first day of the month following your date of hire. SHAZAM matches your contributions up to 5% at a 40% rate. You direct the investment of your contributions in a variety of options offered under the ITS, Inc./SHAZAM 401(k) Plan. You are 100% vested in your own contributions and you are 20% vested per year of service in the company match.
Pension Plan
Another way SHAZAM helps you plan for retirement is with our company-sponsored pension plan. You become a participant in the ITS Pension Plan in September following your date of hire. This is a defined benefit, non-contributory pension plan. You begin vesting after three years in the plan and are fully vested after seven years in the plan.
Financial Planning Reimbursement
If you would like help planning for your retirement, you may receive a one-time reimbursement of the actual
expense up to $500 (taxable) to develop a financial plan. You are eligible for this benefit after two
years of service. Employees can also receive up to $75 per calendar year (taxable) for actual expenses
for the update and review of an existing financial plan. |
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