It’s never too early – or too late – to start planning for your retirement. Making contributions to a 401(k) account is the first step toward achieving financial security later in life. The Air Medical Group Holdings 401(k) Plan provides you with the tools and flexibility you need to retire comfortably and securely.
Eligible employees can invest for retirement while receiving certain tax advantages. The Company will match 50% of employee’s contribution, up to the first 8%, with a six-year vesting schedule.
Match eligibility — The company match will begin once you have reached the age of 21 years and have worked 12 continuous months. Administrative and record-keeping services for this Plan are provided by MassMutual.
You may start making pre-tax contributions into the Plan on the first of the month after you are hired. You must also be at least 18 years of age to be eligible.
Deferred contributions are based on a flat dollar amount not to exceed Plan limits set by the IRS. The limit for 2015 is $18,000.
Catch-up Contributions
If you are or will be age 50 or older during this calendar year and you already contribute the maximum allowed to your 401(k) account, you may also make a “catch-up contribution.” This additional deposit of funds accelerates your progress toward your retirement goals. The maximum catch-up contribution is $6,000 for 2015. See your Plan Administrator for more details.
You may change the amount of your contributions any time. All changes will become effective as soon as administratively feasible and will remain in effect until modified by you. You may also discontinue your contributions any time. Once you stop making contributions, you may start again at any time.
Changes will be made online at retire.massmutual.com/participant/
If you have an existing qualified retirement plan (pre-tax) with a previous employer, you may transfer or roll over that account into the Plan any time.
To initiate a rollover into your Plan, contact MassMutual at 800-743-5274 for details.
You decide how to invest the assets in your account. The Air Medical Group Holdings 401(k) Plan offers a selection of investment options for you to choose from. You may change your investment choices any time. Investment details are available on the RetireSmart website at MassMutual: (retire.massmutual.com/participant/)
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