Benefits for Your Future
There’s nothing like the peace of mind that comes from knowing your future is secure. Our 401(k) and pension plans can help you prepare for tomorrow – so you can make the most of today!
American Family 401(k) Plan
Sherrie, Retiree
43 Years of Service
The American Family 401(K) Plan, offers you a great opportunity to save and invest in your future. The 401 (k) Plan is funded by contributions from you and also provides a company match. All employees are eligible to participate in the plan and newly hired employees are automatically enrolled. You can modify your investments and contributions at any time and contribute up to 30 percent of eligible earnings, or opt out if you don't wish to participate. You can even roll over funds from another employer’s qualified plan to your 401(k) account.
The company match is a fixed dollar-for-dollar match on the first 3 percent of eligible contributions and 50 cents per dollar on the next 2 percent. We offer a variety of investment funds to choose from, ranging from a money market to an international fund to target date retirement funds. Depending on the investment option you choose, you may be responsible for investment fees.
Pension Plan
American Family also invests in your future with a Cash Balance Employee Pension Plan. All American Family employees age 21 or older become participants in the plan after one year of service. After three years of service, the benefit is fully vested and available for a future payment. The cash balance pension plan is a defined-benefit plan in which each employee has an account that is credited with a specific percentage of eligible pay each year, depending on age and years of service. The account grows with interest until the employee withdraws the balance upon retirement or leaving the company after becoming vested.
Best of all, it's completely company funded and requires no contributions from you.
Learn more about:
- Benefits for your Health and Well-Being
- Benefits for your Work/Life Balance
- Benefits for your Peace of Mind
- Continuous Learning