Tolleson Employee Handbook

When you are excused from jury duty and the next day is a scheduled work day, you are expected to return to work and continue the week as normal. You should notify your supervisor as early as possible of the planned day for returning to work.

SOCIAL SECURITY The Company pays one-half of the cost for Social Security, and the benefit you receive is in addition to your Retirement Plan Benefit. If you have questions about your Social Security, contact the Human Resources Department. RETIREMENT SAVINGS PLAN—401(k) Eligible employees can participate in the plan starting with the first pay period after becoming eligible. Through its 401(k) plan, the Company provides you with an opportunity to save between 1% and 100% of your total eligible wages, up to the annual IRS dollar limit. Employee elective contributions are made through payroll deduction and are deposited into your account with the plan’s record keeper. You choose, among the various investment options available, how the money in your account is invested. If you do not voluntarily enroll, you will be automatically enrolled in the plan 30 days after your eligibility date. The Company will automatically enroll you at a 3% deferral rate (pre-tax) and contribute it to your 401(k) account with the plan’s record keeper. You may elect opt out of the automatic enrollment by making a deferral election prior to you automatic enrollment date. You cannot make this election any sooner that 30 days prior to your eligibility date. If you are enrolled in the plan through automatic enrollment and you do not opt out, your contribution deduction will remain at 3% for the first plan year in which you are automatically enrolled and in the following plan year. Beginning with the third plan year of your participation, your contribution percentage will increase by 1% (generally, the April 1 st following your first full year of participation) . Your contribution will increase by 1% each plan year until it reaches 10%. You can opt out of the plan or change your contribution percentage at that time. The Company will make a matching contribution up to a percentage of your elective contributions. The Company will also make a basic contribution to your account whether or not you make employee contributions to the plan. Employees working a reduced schedule are eligible to participate in Flowers’ 401(k) plan regardless of the hours worked; however, employees who work less than 1,000 hours in a calendar year will not receive vesting credit toward the contributions made to their account by the Company. Your employee elective contributions are fully vested (100%) immediately. This means you will not lose any of the money you contribute to the plan, subject to investment gains and losses. The vesting of company contributions is two years of service for the Company basic contributions and three years for the Company match contributions. Immediate vesting occurs upon death, disability or upon reaching the normal retirement age of 65. Contact the Human Resources Department for more details.

29

Made with FlippingBook - Online Brochure Maker