The RCM&D Thrift and Profit Sharing Plan (TPSP) is another program that RCM&D offers to assist employees toward achieving long-term financial goals. The plan has two distinct parts: a 401(k) feature and a profit sharing feature. In addition, rollovers from other qualified plans are accepted in the TPSP.

401(k) Feature

You are eligible to participate in the Thrift Plan on the first month after 30 days of employment. You may make pre-tax contributions of up to 100% of your basic wages a year (subject to the annual IRS maximum).  In addition, the IRS allows participants age 50 and over an additional contribution amount each year, over and above the IRS maximum. 

RCM&D matches employee contributions dollar for dollar up to 3% of your basic wages. You are 100% vested in your contributions and RCM&D’s matching contributions. Contributions are handled on a payroll deduction basis, and you have the choice of a variety of funds in which to invest.

Profit Sharing Feature

The Profit Sharing Feature allows you the opportunity to share in RCM&D’s profits, on a deferred basis, as a supplement to other financial resources in the event of retirement, disability or death. RCM&D makes all contributions to profit sharing based upon its annual corporate profit levels.  Contributions are tax deferred, and go into the investment funds that you have in place at the time of the contribution. 

To be eligible for a profit sharing contribution you must have at minimum of one year of employment at the time of the contribution and be employed on the last day of the year for which the contribution is made. The profit sharing feature has a 7 year vesting schedule.