Retirement Plan Description
Nuclear Safety Associates offers one of the most competitive retirement plans in the industry. Employees can begin making contributions immediately upon start of employment. The IRS limits the amount of income an employee can defer in any given year (for 2006 the limit is $15,000). Therefore, in a simple 401(k) retirement plan, the maximum amount of deferred compensation an employee can contribute per year is $15,000. However, Nuclear Safety Associates employees are able to see their retirement accounts grow at a much greater rate due to the Nuclear Safety Associates profit sharing plans, each of which is described below.

Safe Harbor Profit Sharing
Nuclear Safety Associates will contribute an amount equal to 5% of an employee’s gross salary to their retirement account each pay period. This is a tax-deferred contribution and the percentage is guaranteed. This contribution is made regardless of how much (if any) the employee contributes.

Discretionary Profit Sharing
At the end of each calendar year, Nuclear Safety Associates will contribute an amount equal to 3.5% of each employee’s gross salary for the year into the employee’s retirement account. Note that by law, the percentage given to all employees must be the same. Also, this is a tax-deferred contribution.

Example
The table below shows the amount of contributions that would be made for individuals with hypothetical pay rates between $35/hr and $65/hr. The amounts shown are year-end totals based on 2,000 hours worked.