Pioneer offers two retirement plans to help associates reach their future financial goals and prepare for retirement.
Savings and Investment Plan (401(k) Plan)
The Savings and Investment Plan, Pioneer's 401(k) Plan, is a tax effective and convenient way for associates to save for their retirement.
Participants may contribute between 1% and 50% of their base pay on a pre-tax basis (subject to IRS limits). The company will match 100% of the first 2% contributed to the Plan. Participants are always 100% vested in their own contributions including the Company match. Each Participant decides how to invest their contributions and the Company matching contributions.
Retirement Benefit Plan
Pioneer's Retirement Benefit Plan is designed to provide associates with additional financial resources during post-employment years. Pioneer makes a semi-annual contribution to each participant's account in order to fund a targeted annual benefit. Associates become eligible to participate in the Plan, and are automatically enrolled, the first calendar quarter following one year of service. Each participant chooses from among many investment options offered by the Plan and is vested in the benefit over a six-year vesting period.