401(k) Retirement Plan
Tel Hai offers you the option to participate in a Traditional (pre-tax) retirement savings account, and/or a Roth (after-tax) retirement savings account. After 12 months of service (1,000 hours), you will then be eligible for FREE ‘match’ money based on the amount you elect to contribute to your account. That means TEL HAI PAYS YOU TO SAVE!
Who can contribute to a 401(k)?
Any full-time or part-time team member that is age 18 or older, and has completed 2 months of service with a minimum of 167 hours of service are encouraged to enroll in the 401(k) Retirement Plan.
How much can I contribute to a 401(k)?
You may elect to defer as much as 100% of your eligible wages or as little as $5 per pay. In 2024 federal law limits the amount you may elect to defer under the plan to $23,000. If you are age 50 or older, you may defer an additional amount up to $7,500.
Enrollment is easy… stop by the Human Resources offices for enrollment information.
Your temporary USER ID is your Social Security number, and your temporary PIN is the last four digits of your Social Security number.
For information about our Plan’s investment options, please contact our Plan’s advisor, Wendel King of Comprehensive Financial Planning, Inc. at 800-569-6667 or wking@compcos.com.