Empower Your Future
When we hire employees, we're thinking long term. That's why we have a competitive retirement plan by one of the industry's leading investment groups:
Empower Retirement ©
Who's Eligible?
All regular full-time employees (scheduled 30 hrs/week) are eligible to start investing through JRT's company account account with Empower Retirement. Your investment percentage is open for your discretion, unless you are working on a public works project, in which a designated fringe benefit will be added automatically based on an hourly rate.
Got any Questions?
If you have any questions, and/or want to discuss your retirement account, please reach out to the financial adviser for JRT.
How It Works
As soon as you are eligible, you will be added to the
JRT Empower Account.
Any public work projects, will add a fringe benefit amount automatically to your account, however, all other work will require you to decide how much you want to contribute.
You can access all of your account information online and customize your retirement savings based on your particular situation and your goals for the future.
JRT Employer Match
In the office, the employees that have completed a year of service (see provision below), receive a 401k match since there isn’t an option to receive a prevailing wage fringe. The company match is 3% of whatever you are contributing and these funds will vest over time.
The vesting schedule is 20% every year. So, in 5 years you will be 100% vested. Being 100% vested in your 401k means that you have complete ownership of the funds in your account. This means you will not have to forfeit your funds if you leave the company or decide to retire.
​
The match is deposited in January for the previous year. It is deposited on a pre-tax basis, so if you have a Roth Plan, it will actually open up a standard 401k for you as well as your
Roth. You must be a current employee in order to get the match deposited into your 401k account.
​
The “Year of Service” provision.
To qualify for having completed a Year of Service, the employee must have worked 1,000 hours or more in the year that the match is being calculated.
​