King Washington Employees Savings Thrift Plan

• Category: Corporations - Public - Employees
• State: Multi-State
• County: King
• Control #: US-CC-22-118E
• Format: Word; Rich Text

Description

22-118E 22-118E . . . Employee Savings Thrift Plan under which three types of contributions can be made: (a) those permitted under a qualified Cash Or Deferred Arrangement ("CODA") under Section 401(k) of Internal Revenue Code, (b) those made by participating companies matching 40% of CODA contributions, and (c) additional voluntary employee contributions made by participants who elect maximum CODA contribution and wish to save additional amounts out of after-tax dollars The King Washington Employees Savings Thrift Plan is a retirement savings plan offered to employees of the King Washington company. This plan allows employees to save money for their future by contributing a portion of their earnings into the account. The King Washington Employees Savings Thrift Plan is designed to provide financial security and help employees build a nest egg for their retirement years. One key feature of the King Washington Employees Savings Thrift Plan is that it offers employees the opportunity to contribute to their retirement savings on a pre-tax basis. This means that the amount employees contribute is deducted from their salary before taxes are applied, which can result in potential tax savings. Furthermore, the King Washington Employees Savings Thrift Plan may also offer a matching contribution from the employer. This means that for every dollar an employee contributes to the plan, the company will match a certain percentage of that amount. This matching contribution can significantly boost an employee's retirement savings and is an attractive benefit for employees. Another notable aspect of the King Washington Employees Savings Thrift Plan is its investment options. Participants in the plan can choose from a range of investment options, such as mutual funds or target-date funds, to grow their retirement savings over time. These investment options are carefully selected by the plan administrators to provide diversification and potential long-term returns. It is important to note that there may be different types of King Washington Employees Savings Thrift Plan available to employees. These variations may include features such as different contribution limits, vesting schedules, or eligibility requirements. Employees should consult the plan documents and speak with the plan administrators to understand the specifics of the specific plan offered to them. In conclusion, the King Washington Employees Savings Thrift Plan is a valuable retirement savings tool for employees of the King Washington company. Through pre-tax contributions, potential employer matching, and a range of investment options, this plan aims to help employees build a secure financial future. It is crucial for employees to explore the specific details and variations of the plan offered to them to make informed decisions about their retirement savings.

The King Washington Employees Savings Thrift Plan is a retirement savings plan offered to employees of the King Washington company. This plan allows employees to save money for their future by contributing a portion of their earnings into the account. The King Washington Employees Savings Thrift Plan is designed to provide financial security and help employees build a nest egg for their retirement years. One key feature of the King Washington Employees Savings Thrift Plan is that it offers employees the opportunity to contribute to their retirement savings on a pre-tax basis. This means that the amount employees contribute is deducted from their salary before taxes are applied, which can result in potential tax savings. Furthermore, the King Washington Employees Savings Thrift Plan may also offer a matching contribution from the employer. This means that for every dollar an employee contributes to the plan, the company will match a certain percentage of that amount. This matching contribution can significantly boost an employee's retirement savings and is an attractive benefit for employees. Another notable aspect of the King Washington Employees Savings Thrift Plan is its investment options. Participants in the plan can choose from a range of investment options, such as mutual funds or target-date funds, to grow their retirement savings over time. These investment options are carefully selected by the plan administrators to provide diversification and potential long-term returns. It is important to note that there may be different types of King Washington Employees Savings Thrift Plan available to employees. These variations may include features such as different contribution limits, vesting schedules, or eligibility requirements. Employees should consult the plan documents and speak with the plan administrators to understand the specifics of the specific plan offered to them. In conclusion, the King Washington Employees Savings Thrift Plan is a valuable retirement savings tool for employees of the King Washington company. Through pre-tax contributions, potential employer matching, and a range of investment options, this plan aims to help employees build a secure financial future. It is crucial for employees to explore the specific details and variations of the plan offered to them to make informed decisions about their retirement savings.