This is a "defined benefit" pension plan funded entirely by the employer. If you are an eligible employee, you will become a participant on April 1 or October 1 coincident with or following the date you have attained age 21 and completed one year of service. The employee becomes 100% vested in the plan upon completing five calendar years of service. Employees may receive a maximum of 40 years of credited service.
Normal retirement is age 65. Early retirement is on or after age 55 provided that the employee has completed more than 10 years of service.
This stock bonus plan includes a 401(k) feature whereby employees may contribute a total of up to 25% of their salary on a tax-deferred basis for retirement savings (subject to the IRS maximum). Kyocera, on a discretionary basis, may elect to provide matching contributions to the employee's account on a tax-deferred basis. Employees choose how they want all contributions invested by selecting from the plan's investment funds, which include ten separate investment choices as well as Kyocera Corporation ADR stock (listed on the New York Stock Exchange as KYO). All funds are deposited into a trust fund account set up in the employee's name.
All employees at least 21 years of age are eligible to participate in the Kyocera 401(k) Retirement Savings & Stock Bonus Plan. Employees become vested in company-matching funds at the rate of 20% for each full year of service.
The Kyocera 401(k) Retirement Savings & Stock Bonus Plan offers loan, hardship withdrawal, and roll-over features.
As a means of encouraging employees to further their education, Kyocera reimburses them 100%, up to $5,250 per calendar year, for the cost of tuition, fees and books required for approved work-related classes and/or degree programs.
Kyocera recognizes company service with special gifts at various anniversaries of the employee's hire date.