Retirement

• Membership begins after completion of 3 months of service and attainment of age 21.
  
• You can contribute pre and/or post tax.
  
• Employees hired BEFORE 10/1/2016 have a required 2% minimum
  contribution.
  
• You can contribute up to 50% of your Base Salary on a pre-tax basis or
  22% on an after-tax basis up to the IRS limit of $24,500 per year..
  
• Contributions can be made on either a before-tax or after-tax basis or a
  combination of both; however, the combined total cannot exceed 50% of
  your Base Salary.
  
• Account balances are always 100% vested and can be withdrawn after
  termination of employment with WCS.
  
• You can choose where to invest your money from a variety of funds.
  
• Those 50 and older may make catch up contributions per the IRS guidelines. A catch-up form must be completed and
  submitted to payroll.
  
• For more information, visit the CIRS website.

Tier I: Employees hired on or before September 30, 2016

• You will become vested in the plan after 5 years of Employment Service.
• You will not make any contributions to the Plan. The entire cost of the Plan is paid by your employer.
• You must elect a beneficiary to receive the benefit in the case of your death.
• For more information about retirement age and the plan, visit the CIRS website.

Tier II: Employees hired on or after October 1, 2026

• Membership begins after 1 year of completed service and attainment of age 21.
• You will become vested in the plan after 5 years of Employment Service.
• Once you become a Member in the Plan, your employer will automatically withhold mandatory after-tax contributions from your paycheck based on the below:
  • $70,000 or less, 2% withheld after-tax from your paycheck
  • $70,000.01 to $100,000, 2.5% withheld after-tax from your paycheck
  • $100,000.01 or more, 3%* withheld after-tax from your paycheck
• You must contribute the amount based on the above chart. You are not permitted to contribute more or less than your
  mandatory amount.
• If you terminate employment prior to becoming vested, you will be entitled to receive a refund of your accumulated
  contributions with interest. The refund will not be available until a 6-month waiting period has elapsed.
• You must elect a beneficiary to receive the benefit in the case of your death.
• For more information visit the CIRS website.

* Note that WCS will not withhold contributions in excess of the IRS limit