401K with Millis

Just curious, knight and millis have schools, more short time (new) employees, does Ozark have a school? If they have more tenured drivers, that may explain, at least some, of the disparity in the average per account.

 

From my understanding the way it was explained to me, if you leave millis for any reason you don't take the money you contributed to the 401k

 

They can't keep that, it's your money. They can require that you take it out of their program or move it, but that's your money.

 

Not true, when I left, I received a questionnaire about how I wanted my 401K returned. I could roll it over or take a lump sum payment, minus the penalties for early withdrawal

 

I can't remember off the top of my head, but it's something like this. For every 1% - 5% you put in, Millis will match 10%. 6%-10% Millis will match 15%. 11% -15% Millis will match 25%. 16% - 20% Millis will match 30%. Don't quote on that, but that's close. You can always call Millis 401k Dept. with your questions for an exact amount..

Millis does have a vesting schedule. For example, you have to work their 2 Yrs to even get 20% of what Millis has matched. It's on a sliding scale of how long you have worked their. They are not required by any means to give 100% of the matched money to you when you leave the company without "vesting" your time. This is how any company retains long term employees.