Financial Wellness

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Profit-sharing Plan

A profit-sharing plan is a type of retirement benefit by the company, no employee contributions required. It’s a way for a company to invest in employees’ futures by sharing its success with them. Not all companies offer this kind of plan, so it’s a valuable part of the total benefits package at USLI.

 

Here’s how USLI’s profit-sharing plan works:

Automatic enrollment

Automatic Enrollment

  • Community members are enrolled in the plan on their start date, no action required other than designating a beneficiary.

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Company Contributions

  • USLI community members receive up to 15% of their total salary.

  • Gateway Consolidated community members receive up to 10%.

  • Total salary includes base pay, bonuses, commissions, overtime and more.

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Vesting Schedule

  • Community members gain 20% ownership of their account each calendar year, becoming fully vested after five full years.

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Account Access

  • While community members don’t manage this account directly, they receive annual statements showing their balance, including contributions and interest.

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Eligibility for part-time people and college students

  • As of January 1, 2022, employees who work more than 500 hours per year may be eligible.
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Retirement Access

  •  Funds become available at age 59½.
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Plan Management

  • Managed by Haverford Trust
    USLI community members can update their beneficiary anytime using this form.

This benefit is a meaningful part of your family’s long-term financial wellness. If you have any questions, please have your family member who works at USLI reach out to Samantha Berrang, ext. 2625, on the Accounting team.