As we plan for a new year it is often a time to reflect on the past and see how we can better position ourselves for the future. We understand how important it is for you to plan for your own future as well as your retirement years. Maverick would like to provide assistance in this planning process and therefore we are excited to announce the addition of a 401k Match effective January 1, 2017.
Maverick will match 50% of your contributions to an annual maximum of $1,500 per employee. We hope you find the match to be beneficial as you strive to reach your retirement goals. This match will be funded on a weekly basis and there will be a three year cliff vesting schedule. This means you are 0% vested on the employer matched funds until you have been employed with Maverick for three years. After 3 years of service with Maverick, you would be fully vested on the employer matched funds at 100%. As always, you will be fully vested in your employee contributions no matter how long you have been employed with Maverick.
If you are already enrolled in the 401k Plan you do not have to do anything to take advantage of the Match as it will automatically start matching at 50% of your employee contributions. For those that are not already enrolled, you may do so through Transamerica at any time online (upon completion of your new hire eligibility period) at www.transamerica.com or by phone at 888-676-5512. Additionally, if you are already enrolled in the 401k Plan and wish to change your contributions and/or investment allocations you may make these changes online and by phone. You may also make these modifications through the Transamerica App that can be found in the Apple and Android stores.
Please contact the Benefits Department at 866-413-4410, option #6 if you have any trouble enrolling in the Plan or have any questions.
Thank you for all of your hard work over the past year and we look forward to a great 2017!
-Maverick’s Executive Team