401(k) Retirement Plan

National Seating & Mobility, Inc. retirement plan participants have direct resources available to assist individuals reach their retirement goals. Prudential Retirement manages our 401(k) portfolio and SageView Advisory Group provides retirement education and personalized investment reviews for employees.

Please review the chart below to determine who to contact for your needs:

The NSM 401(k) Plan encourages you to accumulate savings for retirement through convenient pre-tax and Roth (after-tax) payroll deductions. Full time and part-time employees are eligible to participate on the first of the month, following 90 days of service.

There is no open enrollment period for NSM’s 401(k) Plan, but we’d like to take this time of year to remind you of the 401k plan benefit. You can start, stop, or change your contributions at any time.

NSM’s plan offers a wide array of investment funds from which to choose. Prudential also offers the optional use of a Retirement Income Calculator tool. This tool will help investors see the impact their current choices have on future finances. The plan also offers Target Retirement Date Funds which assist investors by choosing appropriate funds based on your age, projected retirement date, and risk tolerance.

Employee Contributions

Employees who are at least 50 can take advantage of catch-up contributions. Employee contributions are subject to the annual IRS limits and vest immediately.

To further enhance employees’ ability to save for retirement, new hires will be automatically enrolled in the 401(k) Plan at 3%. This pre-tax contribution will be payroll deducted and invested in Prudential’s age-based Target Retirement Fund. This contribution will remain in effect until you actively elect to change your contribution percentage or investment election, or until you elect not to contribute to the 401(k) Plan. You will receive additional information regarding the automatic enrollment process.

To make changes to your contribution rate and/or investment elections, initiate a rollover, and designate your beneficiaries, log on to Prudential’s website at www.prudential.com/online/retirement or call customer service at 1-877-778-2100. NSM’s Plan # is: 763125.

Current NSM Match

NSM offers a discretionary company match. This match is based on NSM meeting the financial goals established in the previous year’s budget. The match is funded annually, typically during the second quarter, following the close of the plan year.

The 2023 match is set as $0.25 for every $1.00 the employee contributes, up to 6% of the participant’s eligible salary. Also, you must be actively employed on December 31 of the Plan year to receive the match. Please review information about the match on WNSM.

Eligible employees may contribute from 1 to 100% of eligible pay on a pre-tax and/or Roth (after-tax) basis. The annual discretionary contributions, as well as the investment earnings and losses, are vested based on years of service under the following vesting schedule:

Forms & Brochures

• Retirement Income Calculator
• Prudential Help Center
• Prudential Register Online
• SageView 411 – Participant Help Center