Whether you’d like to travel, volunteer, or just put your feet up, the Southeastern Freight Lines Retirement Savings Program can help you arrive at the kind of retirement you want.
Ways to Save
You can contribute up to 50% of your pay on a before-tax basis, subject to IRS limits. The money is taken out of your paycheck before income taxes are taken out, which reduces your current taxable income. In addition, you don’t have to pay taxes on your contributions—and their earnings—until you withdraw them from your account.
The Program allows you to make Roth contributions. Unlike before-tax contributions, Roth contributions are made with after-tax dollars and offer different tax advantages. When you take a qualified distribution, you won’t have to pay taxes on the money you’ve contributed or on any earnings in your Roth account.* Depending on your preference, you’ll be able to choose the tax advantages of Roth contributions, before-tax contributions, or both (as long as your combined savings do not exceed 50% of your pay or IRS limits).
*A qualified distribution is tax-free if taken at least 5 years after the year of your first Roth contribution AND you’ve reached age 59½, become totally disabled, or died. If your distribution is not qualified, any earnings from the Roth portion will be taxable in the year it is distributed. These rules apply to Roth distributions only from employer-sponsored plans. Additional plan distribution rules apply.
If you’re 50 or over, you can save even more. The IRS allows catch-up contributions if you’re age 50 or older as of the end of the year. That means you can contribute more than the regular IRS annual contribution limit. IRS limits on catch-up contributions may vary from year to year.
Vesting
Vesting refers to the portion of your account that you may take with you when you leave the company or that you can borrow from when you need a loan. As the list shows, vesting occurs over time.
- 1 year of service = 25% vested
- 2 years of service = 50% vested
- 3 years of service = 75% vested
- 4 years of service = 100% vested
You are always 100% vested in the part of your account balance that comes from your employee contributions.
Loans
The longer your money is invested in the Program, the higher your potential earnings.
There are times, however, when you may feel that you have to take a loan from your account before you retire. The Program does allow you to take one loan at a time, with a minimum amount of $1,000.
But consider this option carefully, because there are possible tax consequences. In addition, your account may earn less, and loan payments would be taken out of your paycheck—which could strain your budget.
Review the Retirement Plan Loans video on what you should know about taking a loan from your Retirement Savings Program.
Investment Options
Explore your investment options.
Put it on cruise control? Or drive it yourself? When deciding how to invest your contributions, consider whether you’d like a more hands-off approach or if you’d prefer to have a more active role in managing your portfolio.
You can choose to have your contributions invested in a pre-assembled, age-based T. Rowe Price Retirement Trust with a target date closest to the year you’ll turn 65. The investment mixes in these trusts automatically adjust over time, becoming more conservative as the target year approaches. If you don’t choose an investment path, your contributions will be automatically invested in the T. Rowe Price Retirement Trust based on your age. To find the trust designed for your age group, view the list below and locate the trust associated with the year you were born.
- 1998 or after: Retirement 2065 Trust
- 1993–1997: Retirement 2060 Trust
- 1988–1992: Retirement 2055 Trust
- 1983–1987: Retirement 2050 Trust
- 1978–1982: Retirement 2045 Trust
- 1973–1977: Retirement 2040 Trust
- 1968–1972: Retirement 2035 Trust
- 1963–1967: Retirement 2030 Trust
- 1958–1962: Retirement 2025 Trust
- 1953–1957: Retirement 2020 Trust
- 1948–1952: Retirement 2015 Trust
- 1943–1947: Retirement 2010 Trust
- 1938–1942: Retirement 2005 Trust
- 1942 or before: Retirement Balanced Trust
Depending on your risk tolerance, time horizon, and financial situation, you may consider a Retirement Trust with a different target date. You may change your investment at any time.
For a diversified portfolio that maintains a static asset allocation, consider the Retirement Balanced Trust.
You can design your own portfolio using investments available through the Program. Your choices include:
Money Market/Stable Value Fund
- T. Rowe Price Stable Value Common Trust Fund
Bond Funds
- BlackRock Total Return Bond Fund, T
- BlackRock US Debt Index Fund, W
Stock Funds
- BlackRock Equity Index Fund, M
- BlackRock Extended Equity Market Fund, T
- BlackRock MSCI ACWI ex US IMI Index Fund, M
- GQG Partners International Equity CIT, D
- PIMCO All Asset Fund, Institutional (PAAIX)
- T. Rowe Price Institutional Small-Cap Stock Fund (TRSSX)
- T. Rowe Price Large-Cap Growth Fund, I (TRLGX)
- T. Rowe Price Mid-Cap Growth Fund (RPMGX)
- T. Rowe Price Value Fund (TRVLX)
Important Information
The T. Rowe Price Stable Value Common Trust Fund and the T. Rowe Price Retirement Trusts (Trusts) are not mutual funds; rather, the Trusts are operated and maintained so as to qualify for exemption from registration as mutual funds pursuant to Section 3(c)(11) of the Investment Company Act of 1940, as amended. The Trusts are established by T. Rowe Price Trust Company under Maryland banking law, and their units are exempt from registration under the Securities Act of 1933. Investments in the Trusts are not deposits or obligations of, or guaranteed by, the U.S. government or its agencies or T. Rowe Price Trust Company and are subject to investment risks, including possible loss of principal. Although the T. Rowe Price Stable Value Common Trust Fund seeks to preserve the value of your investment at $1.00 per unit, it is possible to lose money by investing in the Trust. For additional information on the common trust funds being offered, including a trust fact sheet, please call T. Rowe Price.
This material has been prepared by T. Rowe Price Retirement Plan Services, Inc., for general and educational purposes only. This material does not provide recommendations concerning investments, investment strategies, or account types. It is not individualized to the needs of any specific investor and is not intended to suggest that any particular investment action is appropriate for you, nor is it intended to serve as the primary basis for investment decision-making. T. Rowe Price Retirement Plan Services, Inc., its affiliates, and its associates do not provide legal or tax advice. Any tax-related discussion contained in this material, including any attachments/links, is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding any tax penalties or (ii) promoting, marketing, or recommending to any other party any transaction or matter addressed herein. Please consult your independent legal counsel and/or tax professional regarding any legal or tax issues raised in this material.
Investment options are generally classified as stock or bond investments on overall allocations and may contain significant holdings in an asset class that is different from its identified category.
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