Each employee can withhold up to $7000 in Y2002 and this amount increases each year to cover inflation.

Prairie Engineering matches the first 3% of the employee’s withholding.

Both the withholding and the company contribution are invested in American Funds, are fully vested 30 days after payroll is mailed and are held in trust by Capital Bank and Trust Co. of St. Louis.

The employee can change his selection of funds at any time by working directly with the trust company.

Any employee who makes $1000 or more is eligible for this pension regardless of days worked.

Funds can be rolled over to another SIMPLE-IRA Plan anytime.

Funds can be rolled over to a traditional IRA plan after 2 years of SIMPLE participation.

Employee can elect to participate at any time during the first 60 days of employment, or during the first 10 days of each quarter.

Employee can withdraw contributions at any time.