401(k) Savings Plan

Imua Physical Therapy has established a Simple IRA savings plan to provide employees the potential for future financial security for retirement.

To be eligible to join the Simple IRA savings plan, you must complete 12 months of service and be 21 years of age or older. You may join the plan only during open enrollment periods. Eligible employees may participate in the Simple IRA plan subject to all terms and conditions of the plan.

The Simple IRA savings plan allows you to elect how much salary you want to contribute and direct the investment of your plan account, so you can tailor your own retirement package to meet your individual needs. Imua Physical Therapy also contributes an additional matching amount to each employee’s Simple IRA contribution.

Because your contribution to a Simple IRA plan is automatically deducted from your pay before federal and state tax withholdings are calculated, you save tax dollars now by having your current taxable amount reduced. While the amounts deducted generally will be taxed when they are finally distributed, favorable tax rules typically apply to Simple IRA distributions.

Effective June 1, 2006 the company will provide a dollar for dollar match of up to 3% of compensation as long as an employee contributes that much or more.

Once employee is eligible, for the Simple IRA, the President will provide enrollment information.

Policy No.  320  Issued  10/21/2012  Applicable  1/20/2013

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