|
We offer the
best 401(k) plan in the contract staffing industry!
-
We offer traditional
401(k) and Roth 401(k) plans.
- You are eligible for
our 401(k) plans three (3) months after your start date.
- Engineering Resource
Group will match 50% of your first 8%
contribution.
- The company matching
portion is vested after only one (1) year
of employment.
-
(The one
year is from your start date, not your eligibility date.)
- If you are over the
age of 65, the company matching portion is vested immediately.
The plan is
administered through ADP Retirement Services. See a presentation on our
plan at www.MyKenrollment.com
You will be able to choose from among two dozen stock funds, bond funds
and money market funds
|
FAQs: |
|
Q: |
Is your vesting period for company matching really only 1 year? |
|
A: |
Yes it is. We have the shortest
vesting period in the contract staffing industry. The reason
our vesting period is only one year is because it is sometimes difficult
for a contract employee to reach the typical industry vesting period of
three to five years. One year is definitely
achievable, typically with only one or two contract
assignments. |
|
|
|
|
Q: |
Why do
your competitors have 3 or even 5 year vesting periods?
|
|
A: |
Probably because they are hoping you will never reach the
vesting period and then they will never have to make matching
contributions. Some competitors even have matching funds that are
dependent on the company’s profitability. We at Engineering Resource
Group take your retirement seriously and are here to help you achieve
your financial goals. |
|
|
|
|
Q: |
Suppose
my contract assignment ends after 9 months, and I then start a new one
two months later. Does the 9 months count towards the time I am vested? |
|
A: |
Absolutely. If you start another assignment within 5 years
after your last assignment ended, the 9 months will be credited towards
the vesting period. So you would need to work only more 3 months in the
next assignment and you would be vested. |
|
