401K Information

Volt offers a 401(K) savings plan with several different investment options. Information regarding the 401(K) is available by calling Charles Schwab at 1-800-724-7526 you can also go to their website for more specific details: http://volttech.schwabretirement.net

Up to 60% tax deferred contribution to the plan is possible for non-highly compensated employees. If you have completed six months on assignment with Volt at Microsoft or a designated subsidiary or affiliate of Microsoft, you will be eligible to receive a Volt employer matching contribution equal to 50% of the first 3% of your own pre-tax employee contributions. The Volt contribution will be made on a weekly basis. Immediate acceptance of rollover contributions is available. You may change your investment options or contribution savings rate at any time, or obtain a loan by contacting Charles Schwab by phone or online at http://www.schwabplan.com/. For more information contact  Volt's Benefits Coordinator.

Q: When and how can I enroll in 401K?
A: Although you are eligible to participate in the plan upon hire, you must wait at least three business days from the date your first paycheck is issued before your employment information will appear in the Schwab Retirement Plan Services system. Upon enrollment, your contributions will be reflected in the following payroll cycle. Enroll by calling Charles Schwab at 1-800-724-7526. It will take 1-2 pay periods for the deductions to begin.

Q: What about rollovers?
A: Immediate acceptance of rollover contributions is available. For roll-ins and roll-outs, please contact Charles Schwab directly.

Q: When am I vested?
A: You are always 100% vested in your own 401(k) contributions. You will be completely vested 1 year after the first full month that you are employed. For example, if you start your assignment on March 15, 2003, then you will be fully vested on April 1, 2004.

Q: How do I choose my investment options?
A: You may change your investment options or contribution savings rate at any time, or obtain a loan by contacting Charles Schwab by phone or online.