401(k) RETIREMENT PLAN

Plan Name

The Integrated Concepts, Inc. 401(k) Plan.

Plan Carrier

Effective Date

The effective date of the plan is April 1, 1997.

Type of Plan

A profit sharing and 401(k) plan.

Plan Year

The plan year is the 12-month period beginning on January 1 each year and ending on December 31. Records for the plan are kept on a plan year basis.

Eligibility Requirements

  • Labor Union members are NOT allowed to participate in this plan, UNLESS their Collective Bargaining Agreement (or Contract) provides for coverage under this plan
  • 21 years of age
  • One month of service
  • U.S. citizen or foreign national residing in the U.S.

Employee Contributions

  • Pre-tax Contributions — 1% to 15% of your eligible earnings
  • Rollover Contributions — funds transferred to your account either directly from a qualified retirement savings plan or indirectly through an Individual Retirement Account (IRA)

Employer Contributions

  • Matching Contributions
  • Discretionary Contributions

Vesting

Vesting schedule for employer contributions.
Years of Service Vesting Percent
0–1 years
1–2 years
2–3 years
3–4 years
4–5 years
after 5 years
0% vested
20% vested
40% vested
60% vested
80% vested
100% vested

Taking Money Out of Your Account

  • Loans
  • Withdrawals
    – At any time per plan year from your rollover contributions
    – For financial hardships
  • Distributions
    – Termination
    – Retirement
    – Disability
    – Death (payment made to your beneficiary(ies))
Note: There may be limits and tax liabilities on plan payments.

Payment Options

One-time lump sum cash payment