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- Hourly employees – You are eligible for the Company Matching contribution if you are participating in the Thrift Plan and are contributing on a pre-tax basis to your 401(k) account. Catch-up and after-tax contributions are excluded from the Company Matching contribution.
- Salaried employees – Once you have satisfied the 1 year eligibility requirement, the Company contributes 3% to your 401(k) account whether you contribute or not. This contribution is called the Company Basic contribution. In order to receive the Company Matching contribution, you must be contributing on a pre-tax basis to your 401(k) account. Catch-up and after-tax contributions are excluded from the Company Matching contribution.
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