Retirement Savings
Our retirement savings plan is administered through American Funds and helps you save for the future.
See below for 2024 details.
Superior 401(k) Profit Sharing Plan
Save for a financially secure retirement by participating in a 401(k) plan and let Superior help with dollar-for-dollar matching contributions up to 6% of your eligible base salary. Start, stop, or change your contribution anytime throughout the year.
- — Make pre-tax or Roth (after-tax) contribution elections.
- — Update your beneficiary(ies)
- — See how much income you may have in retirement
- — Make changes to your investments
- — Process a rollover
- — Make separate catch-up contributions if you are 50 or older
How To Enroll
Choose the amount to save
Choose a percentage of your salary to save, complete the 401(k) enrollment form, and return it to Human Resources.
Auto-deposit funds
We subtract that amount each pay period and deposit the funds in your retirement savings account.
Get matching contribution
Because we want your retirement savings to grow, we match your contribution based on the tiers below:
Tier 1: Superior will match 100% of each dollar you contribute on the first 6% of your eligible compensation (subject to IRS compensation limits). You will be immediately vested in 100% of the employer matching.
Tier 2: Superior will match 87.75% of each dollar you contribute on the first 6% of your eligible compensation (subject to IRS compensation limits). The second tier employer matching contribution vests gradually over six years.
Tier 3: An additional matching contribution of a discretionary percentage may be determined by Superior. The third tier employer matching contribution vests gradually over six years.
How To Invest
As you accrue your retirement savings, you have options for investing your money.
- — You can contribute up to the maximum amount allowed under IRS rules and regulations (which can change each year), plus additional catch-up contributions if you are age 50 or older.
- — You choose whether to contribute pre-tax or Roth (after-tax) or a combination of both:
- — Pre-tax contributions lower your current taxable income
- — After-tax contributions lower your taxable income during retirement
- — You can change your contributions and investments at any time.
- — You're always 100% vested in your contributions, and you vest 100% in Superior's matching contributions after six years of service. And if you leave Superior, you can move all of your vested savings to a qualified retirement plan (e.g. IRA, another employer's retirement plan, etc.)
Investment Funds
We have several different options for investing your retirement savings. For more details on investing options, log into American Funds and choose Investing help.
Target date funds
Set it and forget it! Target date funds offer a diversified portfolio based on when you plan to retire (typically age 65). With this option, your investment mix gradually shifts from more aggressive to more conservative as you approach retirement.
Individual funds
Create your own portfolio to match your risk tolerance and investment goals. This option lets you choose your investment lineup from a wide variety of core funds.
Helpful Resources
Want to enroll or change your contribution?
Call Human Resources
Retirement plan questions?
Call American Funds to speak to someone about your financial goals.
Access your retirement plan documents
This site summarizes the programs and benefits available to employees and their eligible departments. Official plan documents, policies, and certificates of insurance that contain the details, conditions, maximum benefit levels, and restrictions of benefits govern our benefits program and are available on this site. In case of a conflict between this site and the official documents, the official documents prevail. The information on this site isn't a guarantee of benefits. Superior Construction Services reserves the right to modify or terminate its employee benefit plans and programs at any time for any reason.