401(k) Plan

To help you prepare for retirement, we offer a qualified 401(k) plan, matching $1 for each $1 you contribute. These funds are automatically deposited into your 401(k). Employees are 100% vested in our Profit-Sharing Plan after six years. Here are the details:

 

401(k) Plan/Roth 401(k) Plan

• Eligible after you complete 3 months of service with Penn Stainless

• Opportunity to invest in over 30 Investment Funds

• Safe Harbor Employer Matching Contribution: $1 for each $1 employee contribution, up to 3% of compensation and $0.50 for each $1 contributed over 3% but not exceeding 5% of compensation

• All employee and employer contributions are immediately fully vested

Profit Sharing Plan

• Eligible after completion of 1,000 hours of service with Penn Stainless in the corresponding calendar year

• Discretionary non-elective employer contribution based on a percentage of your gross salary for the corresponding calendar year

• 6 year vesting schedule