Retirement Plan

Tax sheltered annuity plan offers employees the opportunity to save for their retirement on a pre-tax basis. All employees may use the tax shelter annuity program to save for their retirement. Additionally, Melmark will provide a company match for employees who are regularly scheduled to work 30 or more hours a week and who have completed at least one year of service. Melmark will contribute $.40 (forty cents) for each one dollar an employee contributes, up to a maximum of 5% of the employee's total annual earnings. Employees will be vested in Melmark's matching contributions once they have completed three years of service.