Truity offers a robust matching 401k plan. Employees are eligible to participate provided they have reached 21 years of age.
Upon entry date (first of the month following 30 days of employment) the employee will be automatically enrolled at a contribution
rate of 3%, unless an affirmation election is made. If an affirmation election is not made, the automatic enrollment increases 1%
each year up to the maximum contribution of 6%. The employee can opt out at any time.
On the first of the month after 30 days of service, assuming the eligibility criteria is met, employees receive a $1 for $1 match
into the plan up to 2% of their monthly salary. Additionally, the credit union will contribute the equivalent of 4% safe harbor
non-elective contribution of an employee’s earnings into the plan.
On the first of the month following 1 year of service, assuming the eligibility criteria is met, employees will receive $2 for
every $1 contributed to the plan, up to 2% of their monthly salary. Both Roth and Traditional plans are offered. New employees may
rollover funds from a previous 401k plan immediately upon employment. Employees are fully vested after just 3 years of employment.