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  1. Employees covered by this Agreement who have completed ninety (90) calendar days of cumulative active service for benefit eligibility are eligible to participate in the ARRC 401(k) Savings Plan (hereinafter "The Plan").
  2. Employees covered by this Agreement, and eligible to participate in The Plan, may make pre-tax contributions only, subject to the annual maximums allowed by law.
  3. For the purposes of The Plan, the basis for all employer and employee contributions shall be total earnings. .
  4. The ARRC will match employee contributions at a rate of 50% of the first 6% of participant pay period compensation.
  5. Participants will vest in the ARRC matching contributions when they have completed 10,400 paid hours. Vesting also occurs upon permanent disability separation, retirement from a qualified plan, death, or lay-off exceeding 365 days.
  6. To the extent allowed under the law, eligible employees are allowed to participate in the "catch-up" provisions provided in the 401(k) tax code. There are no employer matching contributions to this provision.
  7. The waiting period to resume contributions to The Plan following a hardship distribution is six (6) months.
  8. Participating employees may defer a maximum of 50% of earnings (as defined above) in The Plan, subject to annual dollar limitations provided by law.
  9. Employees who terminate or retire from the ARRC may elect to roll their accounts into any of the retirement vehicles provided by law, i.e. IRA’s, other 401 (k) Plans, 403 (b) Plans, governmental 457 Plans and other qualified plans. Rollovers into The Plan are limited to other 401 (k) Plans and conduit IRA’s.

  11. Rollover balances from another plan will be ignored in determining whether an employee’s account balance is de minimus (less then $5,000) and must be cashed out at termination of employment.
  12. Regular employees covered by this Agreement are eligible to participate in ARRC savings plan(s) on the same basis as non-bargaining unit employees of the ARRC.




For the ARRC_________________ For the Union______________