The Cotality 401(k) Savings Plan is an important tool to help you save on a tax-deferred basis for your retirement years. We believe that building savings over the course of your working career is very important and we help each of our eligible team members do this through the 401(k) plan. That's why, for each dollar you put into the 401(k), up to the first 6% of your pay, the Company will contribute an additional 50¢. Company matching contributions can really boost your own savings because they give you a 50% return on your savings almost immediately.
The 401(k) match occurs every paycheck provided you have contributed and are actively employed. There is a one-year vesting schedule for newly hired employees. Cotality matches on the first 6% of your combined pre-tax and/or Roth contributions. After-tax contributions are not eligible for the company match.
Now is a great time to take a close look at the 401(k) plan. If you’re not contributing, think about enrolling now at a savings rate of at least 6%. If you are already contributing to the 401(k), make sure your contributions are at least 6% to get the full company match.