8.6 401(k) Savings Plan

FNU has established a 401(k) savings plan to provide employees the potential for financial security for retirement.

To be eligible to join the 401(k) savings plan you must be a regular full-time or part time employee, complete six (6) months of employment and be 21 years of age or older.

Eligible employees may participate in the 401(k) plan subject to all terms and conditions of the plan. Employees can enroll at any time after the waiting period.

A 401(k) savings plan is an investment vehicle that allows you to save money for retirement while reducing your taxable income. All dollars that you deposit into your 401(k) account are done so on a pre-tax basis via payroll deduction. The 401(k) plans allow you to elect what percentage of your pay you want to contribute and to direct the investment of those contributions in your plan.

FNU will match your contribution up to 4% of your salary.

Because your contribution to a 401(k) plan is automatically deducted from your pay before federal and state tax withholdings are calculated, you save tax dollars now by having your current taxable income amount reduced.

Please contact the Human Resources Department for complete details regarding the 401(k) savings plan.