With the Car Toys 401(k) plan, you can save money for your retirement on a tax-deferred basis. That is, you don’t pay federal or state income taxes on your savings or investment earnings until you withdraw the money at retirement. In most cases, your taxable income, and therefore your tax rate, will be lower in retirement than during employment, so you will end up paying considerably less in taxes on your savings.

Eligibility

Employees are eligible on the first of the month following six months of service. You are able to enroll or make changes to your 401(k) plan anytime after you have met your eligibility requirements.

Company Match

Car Toys applies discretionary matching contributions after the end of the plan year based on the company achieving certain financial goals. Employees must be employed on the last day of the plan year to be eligible for the match.

401(k) Planning Resources

For assistance with retirement planning, contact:

Pat Hopps, Investment Consultant
Benefits Administration Company
206-625-1800 ext. 426
phopps@baclink.com

For more information about our 401(k) plan, please contact your Benefits Administrator.