Contribute to our 401(k) plan!

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Do you contribute to our 401(k) plan? Do you earn up to:

◦ $53,000 (filing jointly)◦ $39,750 (head of household)◦ $26,500 (single or married filing separately)

You may be eligible for a credit against this year’s tax bill!

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You meet the income limits

You’re at least 18 and not a full-time student

No one can claim you as a dependent

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Saver’s Credit

TY 2008Adjusted Gross Income Limits

Joint filers Head of Household

Single or Married Filing Separately

50% of contribution

$0-$32,000 $0-$24,000 $0-$16,000

20% of contribution

$32,001-$34,500 $24,001-$25,875 $16,001-$17,250

10% of contribution

$34,501-$53,000 $25,876-$39,750 $17,251-$26,500

Kelly saves in our 401(k) plan◦ She meets the Saver’s Credit eligibility criteria ◦ She files taxes jointly on adjusted gross income of $34,000 ◦ She is eligible for a credit on 20% of her 401(k)

contribution (based on the chart)

Kelly’s 401(k) contribution for 2008: $2,000Amount IRS considers for the credit: $2,000Dollar value of the 20% credit: $400

Kelly can apply the $400 credit toward any federal tax she owes when she files her 2008 return

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John saves in our 401(k) plan◦ He meets the Saver’s Credit eligibility criteria ◦ He files taxes single on adjusted gross income of $22,000 ◦ He is eligible for a credit on 10% of his 401(k)

contribution (based on the chart)

John’s 401(k) contribution for 2008: $2,000Amount IRS considers for the credit: $2,000Dollar value of the 10% credit: $200

John can apply the $200 credit toward any federal tax he owes when he files his 2008 return

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The credit applies only to contributions up to $2,000.

Withdrawals from qualified plans or IRAs in the current and two previous tax years affect the amount of the Saver’s Credit.

The Saver’s Credit is a “nonrefundable” tax credit. This means it can only be used to reduce the amount of taxes you owe.

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Tax-preferred tool for building retirement savings

You may get up to $1,000 through the Saver’s Credit

Not in the 401(k)? Enroll Today! (Provide information on how to enroll)

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