Planning for your retirement is important whatever your age. Inserso’s 401(k) plan provides you with the opportunity and resources necessary to ensure a secure financial future for yourself and your family. All regular 401(k) investment contributions are taken from paychecks before taxes are applied.

In addition to the regular 401(k), employees may choose to participate in the Roth 401(k). Deductions are taken on an after-tax basis. Growth in the designated Roth account is tax-deferred and qualified distributions are excluded from gross income.

Employees choose from available investment selections. Plan contributions and risks are solely the responsibility of the employee. The program was designed to help employees prepare for the future with a diversified program that helps to minimize risk and maximize returns.

All employees who are at least 21 years old are eligible to participate on the first of the month following the six-month anniversary of their hire date and may contribute up to the IRS maximum allowable contribution. The money you contribute to the plan is 100% vested (owned unconditionally by you) upon deposit.

For calendar year 2024, you may elect up to $23,000* of your base pay to the plan on a Traditional (pre-tax) or Roth (after-tax) basis. If you are or will be age 50 or older during the calendar year, you may make an additional ‘catch up’ contribution of $7,500 for 2023. You may increase, decrease, or stop your salary deferral contribution as of each payroll period.

*IRS limits may change in 2024.

The plans provide for company matching contributions that includes a dollar-for-dollar Safe Harbor Match of up to 4% of your compensation, per pay period. Unlike most 401(k) plans, this match is immediately vested in full. Once eligible, employees are automatically enrolled at a 4% contribution rate unless the employee takes specific action to set a different rate. There is an automatic increase feature of 1% per year until you reach a total contribution rate of 12%.

The plan allows you to borrow the lesser of $50,000 or 50% of your eligible total vested account balance. The minimum loan amount is $1,000, and you have up to 60 months to repay your general purpose loan, or up to 360 months if the money is used to purchase your primary residence.

Withdrawals from your vested balance can be made in the event of the following: retirement, permanent disability, financial hardship (as defined by the IRS code and the plan’s provisions), termination of employment (as defined by IRS provisions), at age 59 1/2, or death.

Have a question?

Send your questions to HR@inserso.com and someone from our Human Resources team can help.
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