401(k) Plans

Cash or Deferred Arrangements

• Profit sharing plan limitations apply
• Employees may elect to:
  • Receive employer contributions in cash or defer into plan, or
  • Contribute by payroll deduction on a pre-tax basis through a salary reduction agreement
• Employer may match employee salary reductions
• In-service withdrawals allowed only upon demonstration of "financial hardship"
• Assets are held in tax-exempt trust and invested by Trustees in stocks, bonds and short-term cash management
• Employees bear investment risk