Can you afford not to? The sooner you start saving, the sooner you can retire! Our 401(k) plan is designed to help you build wealth over time through:

• An automatic contribution of 3% of your eligible income (free money)
• An additional Company-matching contribution of 50 cents for every dollar you save up to 6% of your eligible income (more free money)
• Lower taxable income (less money going to Uncle Sam)
• The power of compounding – the money you make through investing gets reinvested and can earn even more money (starting earlier gives your money more time to grow)

Fidelity, our 401(k) administrator, offers tools to help you figure out how to budget for retirement saving, even while you are paying off debts.

Social Security will only provide a fraction of your pre-retirement income. It will be up to you to make up the difference—and that’s hard to do if you don’t set aside savings.

The cost of living keeps going up, so your nest egg needs to grow to keep up. The interest banks offer with their savings accounts don’t keep up with inflation. Most retirement strategies involve investing because, historically, stocks and bonds have been able to outpace inflation and grow faster than a typical savings account.

Fidelity offers a range of investment options and online calculators to help you figure out how much you’ll need to save for retirement.

You don’t have to be a savvy investor to make the most of this benefit. Fidelity, our plan administrator, provides educational resources and expert advice to make investing simpler.

If you want an option that involves fewer decisions, choose a Vanguard Target Retirement Fund. It offers a diversified investment approach tailored to your projected retirement date and automatically rebalances your investments as you move toward retirement.

It’s true that investing involves risk, but our 401(k) plan is designed to give you some control over how much risk you take. You can choose how much you contribute and which funds you invest in. Fidelity also offers educational resources to help you make decisions.

While Fidelity administers the plan and offers financial advice, it’s up to you to check your account regularly. Take advantage of the tools offered through Fidelity or another financial advisor to maximize your savings.