Financial and Retirement Security
We provide several ways for you to secure your financial future. Retirement benefits at Pioneer include:
401(k) Savings Plan
The 401(k) retirement savings plan is a voluntary savings plan that allows you to set aside a portion of your pre-tax earnings for retirement. Pioneer will match 100 percent of the first four percent of your contribution. After working 1,000 hours within a 12-month period, you may contribute up to 100 percent of your eligible pay to the 401(k) plan. Contributions are on a pre-tax basis, so tax liability is not incurred until the money is withdrawn at retirement. There are a number of investment options to choose from, including DuPont stock. The Pioneer 401(k) plan is administered by Vanguard, a financial services industry leader.
Pension Plan
Pioneer provides a pension plan at no cost to our employees. This is a defined benefit plan that provides retirement income based on years of eligible service, retirement age and income level. You'll start participating after working at least 1,000 hours during the 12 months following your date of hire. Vesting occurs after five consecutive years of eligible service. You must be at least 55 years old to be eligible for pension benefits.
Roth 401(k)
The Roth 401(k) contribution is made on a post-tax basis and applies to the same contribution maximums as the pre-tax contribution and the same company match is provide on eligible pay. The plan provides an opportunity for almost all employees to diversify their tax risk by saving money now on an after-tax basis.
Retiree Medical and Life Insurance Benefits
Currently, Pioneer provides generous medical and life insurance protection to eligible retirees, at age 55 with five or more years of service.
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