401K Investment Plan
401(k) BENEFIT
Fidelity Investments is Wahlco’s choice 401(k) provider. Fidelity is an international provider of financial services and investment resources that help individuals and institutions meet their financial objectives.
Founded in 1943, managers of Fidelity's 10 largest funds have been at the company an average of 15 years. 76 percent of all of Fidelity's equity assets are managed by portfolio managers with at least 10 years of experience at the company, and 95 percent of equity assets are supervised by managers with more than five years of Fidelity experience.
The underlying strength of all of its financial products is Fidelity Management & Research Company (FMR Co.), the investment advisor to Fidelity's family of mutual funds. FMR Co. employs the largest staff of portfolio managers, analysts and traders in the industry, more than 500 in total.
Eligible employees at least 21 years of age may participate the first of the month after initial hire date.
Participants may elect to defer from 1% to 60% of total compensation on a before-tax basis to the maximum allowed by the Internal Revenue Service. Wahlco may make a discretionary company match of 50% for eligible employee contributions up to 3% of their salary.
As a result of the Economic Growth and Tax Relief Reconciliation Act of 2001, the maximum pre-tax contribution limit will eventually increase to $15,000 as follows:
| Year | Limit |
|---|---|
| 2003 | $12,000 |
| 2004 | $13,000 |
| 2005 | $14,000 |
| 2006 | $15,000 |
After 2006, the maximum pre-tax contribution limit is indexed in $500 increments for inflation.
All information contained in this website is a summary and brief description of your coverage only and is not a contract. Please see your plan documents for a complete description of your benefits and the governing terms and conditions.
