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Profit Sharing Plan
- Two terms that are important to remember are “participant” and “vesting”. You are automatically a participant in this plan once you are hired, but you begin to vest in this plan only after working 1,000 hours in a calendar year.
- You will receive a certificate because you are a participant in our Profit Sharing Plan. There is no cash value until you begin to vest in the plan. On the certificate that you receive at the beginning of each calendar year, it breaks out the Account Value and the Vested Value.
- The Profit Sharing Plan was put into place as a way to assist our full time, permanent employees in retirement.