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Z Projects offers eligible employees the opportunity to participate in the Company's 401(k) plan.
To be eligible:
- You have completed one year of service with the Company
- You have worked at least 1,000 hours after that year
- You are are 21 years of age.
- It is during one of the open enrollment periods - January 1, April 1, July 1 or October 1
By electing to reduce your compensation by a specific percentage or amount each pay day you can contribute that amount to the Plan on a pre-tax basis. No tax is generally due the contributions until you withdraw them from the plan. You may stop, reinstate, increase or decrease the pre-tax percentage of contribution on the first day of the any calendar quarter. There are a number of other features to the plan such as participant loans and rollovers.
Vesting
- Employees are 100% vested in the contributions.
- Employer contributions (Z Projects contributions) are vested based on years of service and at the rate of 20% per year.
- At the completion of five (5) years of service with the Company, the employee becomes 100% vested in the employer’s contributions.
Investments of the plan are participant directed and are currently administered by One America. Employees may direct their investment options by visiting One America online or contacting them by telephone.
Forms and Other Information