Retirement Plans
Center For Family Services offers The Standard 401(k) Salary Reduction and Profit Sharing Plan to eligible employees. All employees, age 21 and older, are eligible after 90 days of employment. However, to be eligible for the company match and discretionary contribution, the employee needs to be age 21 and older, have completed one year of service and a minimum of 1000 hours within that year.
Contributions:
- Employee Elective Deferral- 0-100% of Salary - $23,000 maximum
- Catch-Up Contribution- $7500 for individuals aged 50 and over or maximum allowed by law, whichever is less
- Employer Match- Historically 100% of 3% of elected contribution percentage
- Employer Discretionary- Employer reserves the right to make an annual contribution at end of plan year
Vesting: Applies only to Employer Contribution
Years of Service Vested Percentage
Less than 2 0%
2 25%
3 50%
4 75%
5 or more 100%
- A year of service is a plan year in which an employee completes at least 1000 hours of service.
You are able to change investment directives, transfer assets among investment options and request a hardship or loan of your existing account balance directly with the Standard. If you have questions or need additional information, you may:
- Contact a customer service representative with The Standard at 800-858-5420 between 8am and 8pm EST, Monday through Friday.
- Submit a Center For Family Services HR work order (HR Ticket).
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