401(k) Retirement Plan
401(k) Retirement Plan
Your 401(k) plan is a tax-advantaged retirement account designed to help you prepare for the future.
Eligibility
All employees are eligible upon hire to make pre-tax and/or Roth after-tax elective contributions to the 401(k) plan.
Employees who are 21 years or older and who meet the service requirements (1 year for Safe Harbor Contributions and 2 years for Discretionary Match Contributions) will begin receiving SCC Employer Contributions:
• 3% Safe Harbor Non-Elective Contributions –after one year and 1,000 hours of work – entry January or July 1st.
• Employer Discretionary Match Contributions up to 7% – after 2 years of employment – entry monthly
Employee Contributions
• You may make “before tax” 401(k) contributions up to 100% of your compensation, subject to the annual maximum amount allowed by law ($23,500 in 2025).
• You can make changes to your contribution amount each payroll period. You can also make “after tax” Roth 401(k) contributions.
• The combined total of your “before tax” and “after tax” contributions cannot exceed the IRS maximum.
• Rollovers from other eligible plans are allowed at any time.
Vesting
Your contributions are always 100% vested and your employer’s contributions are immediately vested.
Registering with Transamerica
You are encouraged to register with Transamerica prior to making your own contributions or prior to the SCC Contributions beginning. SCC Partners with Transamerica to administer the Retirement Plan.
Information to register and enroll with Transamerica is noted below. Working with Transamerica you can direct your investments, change your own contributions/deferrals. If you do not provide investment instructions your funds will be invested in one of the TIAA-CREF Lifecycle Funds which has been selected as the default fund.
ACCOUNT STATEMENTS
You can review your account at any time, rebalance your investments and make changes by visiting transamerica.com/portal or calling the toll-free number 800-401-8726.
More information about plan features, investment options, contribution limits, calculators and more, can all be found online. Call us at 855-712-0562.
GETTING STARTED:
Go to transamerica.com/portal
- Click Create an account in the top-right corner
- On the next page, you’ll be prompted to enter your full name, date of birth, social security number, and contact information
- Next, you can create a unique username, password, as well as set up your security questions
- If you’ve already set up your online account, click Log In in the top-right corner
COMPLETING YOUR PROFILE:
- For first time users, click Let’s Get Started to verify your personal information. Here, you can set up deferral elections, create an investment strategy, and review and confirm your contact information
- If you are already enrolled, review your contact email and phone number by clicking on your initials in the right top hand corner and selecting personal information. Consider adding your phone number and selecting text messages for important retirement plan reminders as well as adding an alternate email address.
ONCE YOU’RE IN:
From the menu across the top, scroll over the tabs — My Plan, Investments, Contributions, Loans & Withdrawals, Documents & Forms, and Resources — and select an option from the drop-down lists. Here, you can take control of your retirement and plan for your financial future.
- Check account balance
- Use the OnTrack® tool to help you create and easily modify your retirement income strategy
- Transfer between funds
- Review investment performance
- Manage contributions and fund allocations
- Name or change a beneficiary
- Fill out the form to start the transfer of your outside retirement assets to your plan
- Review loan status and payoff details