If you have fewer than five years of service, your
employer matches 80 percent of the first 6 percent of salary that
you contribute to the Plan. The maximum amount of this matching
contribution is 4.8 percent of your salary. Employer matching
increases to $1 for every $1 you contribute, up to 6 percent of
salary, if you have five or more years of service.
This means that for every $1.00 you save (up to 6
percent of your pay), your Employer adds $.80 (up to 4.8 percent
of your pay).
Savings and Matching Contributions
The following chart shows an example of savings and matching
contributions for an employee who earns $30,000 per year (figures
do not include any investment gains or losses):
