401(k) Plan
Administered by Empower
Pyramid offers a 401(k) Savings Plan that gives you the opportunity to save for your future with pre- or post-tax dollars. You decide which option and how much to save through payroll deductions. You may contribute up to 50% of your pay each pay period.
If you leave Pyramid, the contributions you made into the account are yours to keep, however employer contributions to your 401K will not be until you are fully vested.
Contact Empower at 800-338-4015 or empowermyretirement.com for details.
Pyramid will match the first 1% of your contribution at 100% and the next 5% of your contribution will be matched at 50%.
When am I eligible to enroll?
You are eligible to enroll on the 1st day of the following quarter after completion of 3 months service with Pyramid.
How Do I Enroll?
After 3 months of employment, you will be automatically enrolled with a 6% deferral rate in the traditional plan unless you “Opt-Out”. You can also choose to enroll with a contribution rate of your choice by completing the enrollment process.
Enroll and access your account online at empowermyretirement.com or by calling 800-338-4015.
How Much Can I Contribute?
For 2023, you can contribute up to $22,500 annually in combined pre-tax and/or post-tax (AKA Roth) contributions, plus an additional $7,500 in catch-up contribution if you are age 50 or older by the end of the calendar year. Pyramid will match personal contribution, up to 3% of your eligible pay. You are immediately 100% vested in your own contributions, including any rollovers you make to your account.
For More Information
For additional details about the 401(k) Retirement Savings Plan or how to change your contribution rates or investment elections, please refer to: empowermyretirement.com or call 800-338-4015.
All Employees are auto-enrolled with 6% contributions when you first become eligible if you do not call to opt-out.
To opt-out call Empower at 800-338-4015
Empower: Your Account Dashboard
