Eligibility
and enrollment for truck driver benefits start at different intervals depending
on your circumstances read
more...
United
Health Care Insurance is Roehl's medical and dental insuance carrier and provides
easy access to information about your policy online. read
more...
As
a professional over the road truck driver you earn a wage that provides for
a high quality of life. A good life insurance plan can provide the necessary
protection for your family read more...
Truck
driving careers come with some unique hazards. Disability insurance for truck
drivers is designed to help meet your financial needs in the event you are
injured and can't work. read
more...
Unlike
our group health plans these plans are totally owned and controlled by you read
more...
Flex
spending allows you to withhold earnings from your paycheck before they're
taxed. read more...
Roehl
drivers receive annual profit sharing bonuses deposited into their 401(k) read
more...
You
deserve a break once in a while. In addition to fleets with guaranteed home
time, you can count on earning vacation time as well. read
more...
We
understand that great paying trucking jobs don't come without sacrifice, like
being away from home and your family. Roehl's rider policy allows you to connect
with family and still earn paycheck. read
more...
For
more information on who to talk to about your benefits as a Roehl Driver,
this chart should help save you time by getting you to the correct person
right away. read
more...
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Roehl Transport Retirement Benefits
Retirement Plan 401(k) and Profit Sharing.
If financing your retirement depends on a winning lottery
ticket or a lucky night at the casino, it’s unlikely that
you’ll be able to retire in the fashion you would like—if
at all!
Saving money isn’t easy. In fact, few Americans have a
plan for saving for retirement or other long-term goals.
We all know, however, that financial security is very
important if we are to fully enjoy our retirement years.
The Retirement Plan—401(k) and profit sharing, as its
name suggests, has two components—401(k)—which
allows you to put money aside into retirement savings
and—profit sharing—which allows us to share the
company’s success with you.
Our plan is administered by Wells Fargo, one of the nation’s
leading financial companies with a history of 150 years of
innovation and service.
401(k)
The Roehl Transport 401(k) makes long-term saving easy and profitable in a number of ways: • You can save from 1% to 40% of your wages.
- Your savings are deducted from your paycheck on a pre-tax basis before income taxes are calculated, lowering your current tax bill.
- You save through convenient payroll deductions.
- You decide how to invest your retirement savings among a number of investment funds.
- Most administrative costs of the plan are paid by the company. You pay no broker’s fees or commissions. The return on each investment is net of any asset management fee.
- Through the loan provision, you have access to your money.
- You pay no income taxes on your 401(k) contributions, company profit sharing contributions or any investment earnings as long as the money stays in the plan.
- The Wells Fargo 401(k) Benefits Helpline is available 24 hours a day. The number is 888-319-9451. Customer Service Representatives are available at the same number from 7:00 a.m. to 8:00 p.m. (CST) Monday through Friday. They can answer your questions and explain options even if you’re not yet enrolled in the plan. You can also review your account on the Web by clicking on the highlighted address on the benefits page of Roehl.net.
Here is a summary of the plan provisions. Please refer to your Summary Plan Description booklet (you’ll receive your booklet when you enroll after 90 days of service) for more detailed information.
- Eligibility—You become eligible for and are automatically enrolled in the 401(k) program on the first day of the month following 90 days of employment.
- You must enroll in order to participate in the 401(k) (salary deferral) portion of the plan.
- Pay Deferrals—You may elect to defer up to 40% of your pay. Upon enrollment, you will automatically be set up at a 1% deferral rate. You may elect to stop or change your deferral amount at any time during the year.
- Catch-Up Provision—If you’re 50 or older, you are eligible to defer even greater amounts into your 401(k). Call the 401(k) Benefits Helpline for details.
- Investment of 401(k) Contributions—You have many investment options which vary from lower potential risk/return to higher potential risk/return. Investment changes can be made daily.
- Loans—You may borrow money from your account. The minimum loan is $1,000 and the maximum is generally 50% of your vested account balance. The interest rate is the prime rate plus one percent. Except for home purchases, the term of the loan is limited to five years. Repayment of principle and interest is handled through payroll deduction. There is a $150 fee to handle the loan paperwork, which will be deducted from your account.
- Hardship Withdrawals—In certain extraordinary circumstances you can withdraw money from your 401(k) account. Call the 401(k) Benefits Helpline for details.
The plan accepts rollovers. If you have money in another plan, you can “roll” it into our plan. Simply call the 401(k) Benefits Helpline at 888-319-9451 and request a rollover kit.
Profit Sharing
One of the rewards of a successful year is the additional money you receive through the profit sharing plan. When Roehl has a profitable year, a decision is made by the executive leadership group on the contribution to the profit sharing plan. We’ve made a profit sharing contribution every year for the past 20 years. We’re proud to provide this additional reward to you based upon the success of the entire team.
You become eligible for profit sharing after one year and at least 1,000 hours of service. Entry dates to the plan are January 1 and July 1. You will be automatically enrolled in the profit sharing portion of the plan once you become eligible.
You must have worked at least 1,000 hours in the year for which the contribution is being made and you must be employed on December 31 of such year.
Investment of Profit Sharing Contributions—You have many investment options, which vary from lower potential risk/return to higher potential risk/return. Investment changes can be made daily.
Vesting of Accounts
Vesting refers to ownership—how much of the account belongs to you. You are always 100% vested for your own contributions to the 401(k) plan. The vesting schedule for Roehl’s contribution to the profit sharing portion of the plan is:
Years of Service |
% of Vesting |
|---|---|
2 |
20% |
3 |
40% |
4 |
60% |
5 |
80% |
6 |
100% |
A minimum of 1,000 hours of service are required to qualify as a year of service.