The 401(k) Retirement Savings Plan is a pre-tax savings plan that Mister Car Wash offers to all eligible employees.
How does a 401(k) retirement savings account work?
You choose how much you want to put into the 401(k) savings account every pay day. This money is taken out of your paycheck pre-tax and placed into a savings account which grows in value over time.
How do I get FREE MONEY from Mister Car Wash for my 401(k) savings account?
For every pre-tax dollar you put into your 401(k) savings account, Mister will give you an additional $0.50 up to 3% of your salary.
- If you earn $1000, 3% of your salary is $30.
- For every $30 you put into your 401(k), Mister will put in $15.
- This means you will be putting $45–pre-tax– into your account every pay day!
Am I eligible to participate in the 401(k) savings plan?
To be eligible to participate, you must meet the following requirements:
- You must be 18 years of age
- You must work at least 1,000 hours in the previous 12 months
- Once you become eligible, you remain eligible and can enroll anytime
- Eligibility occurs the first of the quarter after the 1 year anniversary date
How do I enroll into the 401(k)?
Once you have been notified of your eligibility to participate, you can enroll in two ways:
- Register online here
- Click on “Register” and follow the prompts
- Call Empower Retirement at 1-800-338-4015
How do I access the money in my account?
Per IRS regulations and Mister Car Wash 401(k) Retirement Plan (“the Plan”) rules, you can withdraw money from your account under the following circumstances:
- Financial Hardship
- Overdue medical bills
- School tuition
- Purchase of primary residence
- others as defined by Internal Revenue Code and the Plan’s provision
- Permanent Disability
- Severance of Employment
- Attainment of age 59 1/2
Where can I get more information?
For more information or questions not addressed above, please contact:
- Empower Participant Services at 1-800-338-4015
- Mister Human Resources at 1-844-529-7392 or [email protected]