Native Excavating,Inc.
The Yampa valley's choice for quality excavation since 1981
401K and Profit Sharing Plans:
SELF-FUNDED 401k PLAN:
·Employee-funded through payroll deductions (pre-tax).
·Access to your information and to make changes, through the internet.
·Roll-over any previous plans you may have into one plan.
·Many investment choices through American Funds.
·Separate from the Profit Sharing Plan.
ELIGIBILITY:
·Must be 18 or older
- Must have worked for Native Excavating, Inc. for minimum of 3 months
Forms are available at the office for those employees interested in contributing to their own 401k Plan.
·Employee-funded through payroll deductions (pre-tax).
·Access to your information and to make changes, through the internet.
·Roll-over any previous plans you may have into one plan.
·Many investment choices through American Funds.
·Separate from the Profit Sharing Plan.
ELIGIBILITY:
·Must be 18 or older
- Must have worked for Native Excavating, Inc. for minimum of 3 months
Forms are available at the office for those employees interested in contributing to their own 401k Plan.
PROFIT SHARING PLAN:
How do you qualify?
1. Employee must have worked for Native for one year (12 months.) prior to the plan entry windows of January 1st and July 1st.
2. Employee must have worked at least 1000 hours (starting January 1st of current year).
3. Employee must still be employed on January 1st of current year.
4. Employee must be at least 21 years of age.
When do you become vested? (Or when is the money yours?)
Employee becomes vested after 3 years of service from the date of plan entry.
How are the contributions invested?
Contributions will be invested into funds specified on the “Investment Election Form”. This form gives you a choice of five different types of funds with varying degrees of risk. You must fill this form out and turn into the office to keep on file.
Contributions will be invested into the money market fund “Cash Management Trust of America” if an “Investment Election Form” is not on file with your signature.
For employees previously eligible, your contributions will be invested into the funds specified in the previous “Investment Election Form” signed and on file unless an updated form is on file with a signature and current date.
Optional “Beneficiary Forms” are available for newly eligible employees or employees who wish to change previously filled out forms.
How do you qualify?
1. Employee must have worked for Native for one year (12 months.) prior to the plan entry windows of January 1st and July 1st.
2. Employee must have worked at least 1000 hours (starting January 1st of current year).
3. Employee must still be employed on January 1st of current year.
4. Employee must be at least 21 years of age.
When do you become vested? (Or when is the money yours?)
Employee becomes vested after 3 years of service from the date of plan entry.
How are the contributions invested?
Contributions will be invested into funds specified on the “Investment Election Form”. This form gives you a choice of five different types of funds with varying degrees of risk. You must fill this form out and turn into the office to keep on file.
Contributions will be invested into the money market fund “Cash Management Trust of America” if an “Investment Election Form” is not on file with your signature.
For employees previously eligible, your contributions will be invested into the funds specified in the previous “Investment Election Form” signed and on file unless an updated form is on file with a signature and current date.
Optional “Beneficiary Forms” are available for newly eligible employees or employees who wish to change previously filled out forms.
Steamboat Springs, CO
(970) 879.6231
(970) 879.6231
© 2009 Native Excavating, Inc.
Sustainable Business Program