New hires are auto enrolled at a 4% contribution rate and are subject to an annual
1% increase, or bump up, in their contribution rate, with a 30-day window to opt
out of the increase. A fixed 2% employer contribution is made to all eligible
employees in each pay period. There is a 100% employer match on the first 4% of
a participant’s contribution. The employer match and the 2% employer
contribution are invested in the same manner as the employee’s contributions fund
elections. Plan eligibility starts on the employee's hire date.