• 401(K) Plan
• 125 - Flex Plan
• Deferred Compensation Plans
• Tool Reimbursement Program

There are so many reasons to join the 401(K) plan.
A 401(k) plan is a valuable benefit program that allows you to put money aside for a financially secure retirement.

It's easy.
After you enroll, your contribution will be automatically deducted from you paycheck.

There are big tax advantages.
Your contribution will be deducted from your pay before taxes. This means you will pay less income tax than if you did not contribute to the plan. And unlike interest earnings on a regular account which are taxed annually, your investment earnings continue to grow without an annual tax bite until you withdraw. This is called tax deferred compounding and overtime it can make a big difference in the amount of money you accumulate.

Its flexible, to meet your needs.
Your 401(k) offers built in flexibility to meet changing financial circumstances. You determine how much you want to contribute. You can increase or decrease contributions at regular intervals, stop contributions at any time and transfer money among investment options whenever you want.

Your money is always yours.
The money you contribute to your account will always be yours. By law it cannot become the property of anyone else.

Questions? Call today ... 1.877.6HR.DEPT

A Flex Plan allows employees to pay for certain medical expenses on a pre-tax basis. By paying for these expenses before being taxed, employees lower their taxable income, pay less in taxes and increase their take-home pay. These expenses include:

• Employee contributions toward medical-related insurance premiums
• Medical-related expenses such as deductibles, co-insurance, or uninsured medical expenses.
• Dependent care expenses.
• FlexSystem offer employees and employers a win-win situation when it comes to saving money.

• Reduced Payroll Costs - Social Security contributions are reduced for each dollar of employee participation!
• Cost Control - An employer can control the company's share of medical costs, without limiting employee choices.
• Address the Needs of a Diverse Work force - An employer can offer individually tailored benefits at little or no additional cost to the company.
• Recruit and Retain Quality Employees - An employer is viewed in a positive light by current and prospective employees because a benefit package is being provided with the employee's interests in mind.

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Financial experts predict you will need 80% of your current income to maintain your standard of living upon retirement. Most employee benefit programs discriminate against key employees by placing limits on contributions and benefits. Without a properly designed executive benefit program to help close the retirement gap, key employees may not be able to maintain their lifestyle at retirement.

What causes the gap?

• Qualified plans and IRAs have limits on the amounts that can be contributed to them. Also, qualified plans are subject to coverage and discrimination testing that may limit both employee and employer contributions to the plans.

• The opportunity to defer compensation in excess of qualified retirement plan limits on a pre-tax basis.
• Earnings accumulate tax-deferred.
• No contribution limits, minimum withdrawal at age 70 ¸ or 10% IRS early withdrawal penalty.
• High quality account information similar to a 401 (k) plan.
• You control the investment strategy.

• A select group of management or highly compensated employees.

• Plan participants may defer up to 100% of eligible compensation on a pre-tax basis.
• Company discretion to make contributions to the plan on a selective basis.

A deferred compensation plan is an unfunded contractual obligation from the company to pay a benefit to the plan participant in the future. Any one or a combination of the following credited methods can be offered to the plan participants.

• Guaranteed Interest Rates - The company determines the rate based on its own cost of money or investment returns.
• Variable Crediting Rate - The rate is typically based on an interest index such as the prime rate.
• Variable Equity Crediting - Similar to a 401(k) plan, the plan participant can select from a number of investment options which may include: mutual funds, individual stocks, company stock, or any combination of the above.

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How Does it Work?		Two Checks ... Better than One
Tool Reimbursement is a Win - Win for both the employer and the employee. The program is administered by an independent 3rd party that fulfills the requirements for an accountable plan under the fringe benefits tax codes. Take Home More Money: By receiving a completely "tax free" for the use of your tools plus a check from your employer, the combined net pay is greater than before. You also reduce your taxable income level as well which may also add to more savings. How Much is Tax Free? The amount of your tool reimbursement is based on the inventory of tools you use on the job, and other expenses that you may be required to incur for performing your job. The maximum allowable tool rate reimbursement is $5.75 per hour (California $6.75), and not to exceed one-third their gross wage. So if you work 50 hours in a week, and qualify for the maximum rate, then you will have a gross tool reimbursement of $287.50. From this total tool reimbursement an administrative fee is deducted and the check is sent to you or directly deposited into your bank account. The below net increase in pay example shows the maximum tool benefit rate of $5.75 for 52 weeks, working 40 hours per week, and after the administrative rate is deducted. You can increase their yearly net earnings by $3,000.00 - $5,000.00. Back to Top		The Solvis Group provides a two day turn around for tool reimbursement payments. You can elect to have their tool reimbursement automatically deposited or receive an actual check. How to Qualify? One of the first steps required is to have you complete a tool inventory, employee information survey, and a direct deposit form (if desired). These forms will determine the rate of reimbursement that you are entitled. This may vary, but generally a journeyman metal technician or mechanic will qualify for the maximum, if they have the typical tools required to perform their job. Even as an apprentice with minimal tools you can benefit with the tool reimbursement program. As you purchase tools in the future, your tool reimbursement rate will increase as well. Questions? Call today ... 1.877.6HR.DEPT