Generally, what does Seed Savers Exchange’s 401(k) plan provide to the employees?
401(k) plans are IRS qualified retirement plans, of the defined contribution type, and are governed by strict IRS codes and regulations. Employees with one year of service at Seed Savers Exchange and who are at least 18 years old, except seasonal employees, are eligible to participate in the 401(k) plan. Eligible employees may decline to participate in the 401(k) plan if they choose to do so. Participating employees defer a portion of their pre-tax pay to fund their 401(k) retirement account, up to an annual maximum limit set by law. Seed Savers Exchange matches employee contributions on a sliding scale based on years of service. The employee chooses investments for his/her 401(k) account from among a set of standardized offerings. The money in an employee’s 401(k) account changes based on the amount of pay deferred, the employer match, and gains or losses in the investments s/he chooses. Employees are always 100% vested in the deferred pay portion of his/her 401(k) account. There is a
