401(k) Savings
Plan
Being ready for retirement is an important part of financial wellness. The key to success is to start saving now.
CPI's 401(k) Savings Plan, administered by Empower, offers a variety of investment options. The company generously matches your 401(k) contributions to help grow your retirement savings.
Plan
Eligibility
You are eligible to participate in the 401(k) plan after one year of employment.
Once you're eligible, you may enroll in the plan, designate beneficiaries, and allocate your asset distribution at any time. You do not need to wait for annual enrollment to make contribution changes.
Quick Tip: Ensure you designate your beneficiary as soon as you enroll to protect your savings and secure your legacy.
401(k)
Contributions
CPI will match 100% of the first 3% you invest, and an additional 50% up to 5%.
Your funds and CPI's contributions are immediately vested. This means the funds in your account are 100% yours. You may choose pre-tax (Traditional) or after-tax (Roth) contributions.
*Note: If your 2025 FICA wages from CPI were more than $150,000, your 2026 catch-up contributions must be made on a Roth (after-tax) basis. See Box 3 of your W-2 for your FICA wages.
Traditional vs. Roth 401(k):
What's the Difference?
Traditional and Roth 401(k)s differ mainly in how your contributions are taxed, giving you flexibility as you save for retirement.
- 01You put money into your account before it's taxed.
- 02You pay taxes when you withdraw the money in retirement.
- 03You must start taking money out of the account at age 73.
- 01The money is taxed before it goes into your account.
- 02Withdrawals are tax-free in retirement if you meet IRS requirements.*
- 03There are no required withdrawals during your lifetime.
See IRS requirements for withdrawal.
Helpful Tips on
Saving for Retirement
For more information or to access your account, visit Empower.com or call 855-756-4738.
