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EMPLOYEE BENEFITS
Call (800)227-3953
401(a) Profit Sharing and 403(b) Deferred Annuity Plan
Employees may contribute a portion of each paycheck to a 403(b) tax-deferred annuity plan administered by the Variable Annuity Life Insurance Company (VALIC). You may contribute a minimum of $25.00 per month and up to limitations based on income according to IRS Code. VALIC offers 18 fund options, ranging from conservative, low-risk investments to aggressive, high risk funds. Employees may invest in up to 7 different funds and may change the amount of their contribution at any time.
After one year of employment, Rimrock will contribute to a 401(a) profit sharing plan an amount equal to fifty percent of your retirement contribution up to 7 percent of your salary. The maximum employer contribution is 3.5 percent of your salary. Vesting in the employer contributions is as follows:
| Years of Service |
Non-forfeitable Percentage |
| 1 yr |
20% |
| 2 yrs |
40% |
| 3 yrs |
60% |
| 4 yrs |
80% |
| 5 yrs |
100% |
Investment consultations with VALIC representatives are available periodically during business hours.
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