401(k) Retirement Plan (The Principal Financial Group)

Even if retirement seems a long way off, now is the time to begin planning and saving for it. Participating in the Swift Transportation 401(k) is a convenient and easy way to help you potentially reach retirement with enough money to live comfortably.

Who can participate?

You are eligible for the plan if you are at least 18 years old and have completed 90 days of service with the company. You may enroll and make your election at any time but you cannot enter the plan until you meet these requirements.

Why participate?

  • Convenience. Your contributions are automatically deducted from your paycheck.
  • Employer matching contributions. At its discretion, Swift Transportation may match your contributions if you are actively employed on the last day of the plan year.
  • Tax benefits. You don't pay taxes on your contributions, the company match, or investment returns until you withdraw your money.
  • Choice of investment options. Choose investment options that best fit your financial goals.
  • Rollovers. Roll over eligible plan balances from another employer-sponsored plan or from a rollover IRA.
  • Vesting. You are always 100% vested in your contributions. You become 100% vested in employer contributions after five or more years of service.
  • Tools and resources. Plan for the road ahead using online tools available from The Principal, like My Principal┬« Edge Milestones, the Investor Profile Quiz and more!

It's easy to enroll and manage your account

To help you get started, you will be automatically enrolled in the Swift Transportation 401(k) approximately 90 days after your hire/rehire start date unless you enroll on your own before 90 days.

  • We will automatically deduct 3% of your eligible pay on a before-tax basis and deposit it into a 401(k) retirement account.
  • Then on or around January 1 each year, your current before-tax contributions will be automatically increased by 1% until you reach 10%.

While automatic enrollment can be a good start for many, you are encouraged to make your own enrollment and investment decisions based on your unique retirement goals.

Remember, participating in the plan also makes you eligible for annual matching contributions from Swift. The company match is the greater of 100% of your first 3% of eligible contributions or 100% up to $2,000.

Follow these enrollment instructions .

Accessing your account is easy
You can access your account and make changes at any time online at principal.com or by phone at 1-800-547-7754 (Account #456173). Retirement specialists are available to assist you Monday through Friday between 7:00 a.m. and 9:00 p.m. CT (except national holidays).

  • Enroll (once you're eligible) and view your account balance
  • Make contribution changes, transfers and investment changes
  • Find helpful tools and information
  • Designate a beneficiary

Get help with your savings strategy

Just log on to principal.com/milestones and answer some quick questions. You can discover your retirement goals, determine whether you're on track, and draft a personalized retirement guide with action steps to help you stay on course.

Tax credit for contributing

The Economic Growth and Tax Relief Reconciliation Act of 2001 made changes to the law to help you save more for retirement, including a saver's tax credit available for some plan participants. The amount of the tax credit is a percentage of your contribution (up to $2,000) and is based on your adjusted gross income. It phases out as your income increases. As you may know, contributing to the plan reduces the amount of your income subject to federal taxation, and the tax credit may help reduce your taxes even more.