Retirement Plan
Traditional 401(k) Plan
Eligible employees of CSCI may participate in the CSCI Retirement Plan. The Plan is a Profit Sharing/401(k) plan. Under the profit sharing portion of the Plan, CSCI will provide discretionary contributions to the Plan on behalf of each eligible employee on a calendar year basis. The amount is determined year-to-year based on profits and other financial considerations. Under the voluntary contribution portion of the Plan, eligible employees may elect to make tax-deferred contributions up to $15,500 via payroll deductions. CSCI will match 50% of the first 6% of compensation you contribute per pay period up to a maximum of $2,000 per year. If you are 50 years of age or older, you can make “catch–up” contributions.
Roth 401(k) Retirement Plan
The CSCI Retirement Plan also includes a Roth 401(k) Plan option. Contributions are made with after-tax income, but withdrawals are not taxed. Participants may contribute to the traditional plan, the Roth plan, or both.