Tax Deferred Savings Plan
Crewmembers can participate in the Company’s 401(k) savings plan (“The Plan”) upon
the completion of ninety days (90 days) of service. The Plan allows Crewmembers to
make self-directed investments consistent with the Plan’s offerings. The Company will
match one hundred percent (100%) of the first five percent (5%) of compensation
contributed by the Crewmember, but the maximum Company matching contribution will
not exceed ten thousand dollars ($10,000.00) annually.
B. Vesting Schedule
A Participant’s salary deferral contributions are always 100% vested, while Company
contributions to a Crewmember's 401(k) account will be vested in accordance with the
following schedule:
Years of Active Service Percent of Total Matching
Company Contribution that is Vested
Less than 1
Zero Percent (0%)
Completed year 1 Twenty Percent (20%)
Completed year 2 Forty Percent (40%)
Completed year 3 Sixty Percent (60%)
Completed year 4 Eighty Percent (80%)
Completed 5 or more One Hundred Percent (100%)
All Company contributions will be fully vested after the completion of five (5) years of
Active Service.
C. Payroll