66 employees reported this benefit
Employees are eligible to join the Plan on the first day of the month after 75 days of employment. In order to be eligible for the discretionary Company Match you must first complete one year of service with the Company. You are eligible for the discretionary Company Match in subsequent years if you work as least 1000 hours in that year and are employed on the last day of the year.
Takes a year for 4% match
Good! They force you to have one.
The plan is pretty basic, although the match is really low and you don't get it if you leave the company before the end of the year, or if the board of directors doesn't feel like giving a 401k match at the end of the year.
Waiting period for contribution is up to 3 months (1st of the month following 75 days of employment)... and matching amount is trivial (1/2% match per 1% of contribution, up to 2% total match)
It takes 6 years to be fully vested and you only get .50 on the dollar up to 4%
The matching is discretionary and it's once a year. If you leave before the end of the year and do not work when they match, you don't get matched at all.