Effective the first of the month following one year of full-time employment, Woods will begin to contribute the following on the employee’s behalf:

 

• Woods contribution: 2% of employee’s gross pay is submitted to Principal by Woods on the employee’s behalf

  • Even if the employee opts out of the plan (contributes nothing), they are still eligible to receive the 2% employer contribution

• Woods match: 50 cents on the dollar, up to 4%

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Example: You contribute 4%, will receive 2% employer match and 2% employer contribution