Optional 401K Plan can Enhance Your Retirement.

 

About the 401K.

A 401K plan is an available benefit to qualified drivers. Di Pietro Trucking Co. 401K Plan can help to ensure a comfortable retirement. You can choose a percentage of your gross pay each payday to invest through payroll deduction. Di Pietro Trucking Co. also contributes to your 401K when you contribute. For example, if you contribute up to 3% of gross pay, an additional 25% of that contribution is deposited by Di Pietro Trucking Co. into your 401K.

The Choices are Yours.

You are able to direct the investments in your 401K. You have the choices, and you can switch into different investment funds within your 401K as your needs change. You choose what percent of your contribution you want to go to which fund or funds.

Conditions for Withdrawl.

The IRS has restrictions on when money may be withdrawn from your Plan. You may withdraw money from your Plan account in the event of: retirement at age 65; early retirement at age 55 with 7 Years of active employment with Di Pietro Trucking; after age 59.5; termination of employment; disability; or death (in which case benefits are paid to your designee). Based on IRS guidelines, if it is determined that you have an immediate financial need due to hardship, and other resources to meet that need are not available to you, you may be eligible to receive a hardship withdrawal from your account.

You may rollover your 401K account balance to another 401K plan or to an IRA account that you establish if you go to work for a different employer.

The Power of Compound Interest.

The amount of your 401K contributions, employer contributions and all earnings on your account are not subject to current federal income tax, or state or local taxes until you make a withdrawl from your 401K. The tax deferral gives your retirement savings the power of compounding interest.

Keeping Track.

You will receive a statement of your account. You are able to look at a statement of your account on the internet. A toll free phone number is also provided to you, which enables you to call the financial institution directly.

Apply.

Employees of Di Pietro Trucking Co. are encouraged to enroll in the 401K plan. Enhance your retirement. Stop by HR for more info.