HBPW offers a highly competitive base contribution to the 401 (a) plan with a one-time option for employees to contribute and additional matching percentage. The plan is considered as the qualifying pension plan as defined by the IRS and is administered by the Michigan Employee's Retirement System (MERS). Employees become fully vested in the plan after five years of service and are eligible for full retirement at the age of 55 after 25 years of service or the age of 60 after 10 years.
Deferred Compensation (457 Savings) Plan
HBPW offers a plan for you to take control of your retirement future by providing a comprehensive deferred compensation program. You have the opportunity of investing a pre-tax portion of their income into two different deferred compensation retirement companies.