Retirement

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Panduit offers a 401(k) plan that allows employees to contribute pre-tax salary towards retirement savings. Furthermore, Panduit will partially match employees' contributions to the 401(k) plan as follows:

Panduit will provide a $1.00 match for each $1.00 an employee contributes to the plan, up to the first 3% of the employee's weekly compensation.
Panduit will provide a $0.50 match for each additional $1.00 an employee contributes to the plan, up to an additional 2% of the employee's weekly compensation.

In addition, the Panduit Board of Directors determines a profit sharing contribution amount annually based on the company profits. This is calculated as a percentage of an employee's total annual cash compensation and is deposited in a lump sum. The amount of the contribution is declared and the actual contribution is added to the employee’s account in the following year.