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Pension Plan for Nonbargaining Unit Employees
This is a "defined benefit" pension plan funded entirely by the employer. The employee becomes 100% vested in the plan upon completing five calendar years of service with 1000 or more credited work hours in each of the calendar years. 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.
The Kyocera 401(k) Retirement Savings & Stock Bonus Plan
This stock bonus plan includes a 401(k) feature whereby employees may contribute a total of up to 10% of their salary on a tax-deferred basis for retirement savings. 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 after 90 days of employment. 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.
Employee Stock Purchase Plan
In addition to the Kyocera 401(k) Retirement Savings & Stock Bonus Plan, the Kyocera Employee Stock Purchase Plan allows employees to purchase Kyocera Corporation ADR stock through deductions from their net pay. A minimum of $15 per pay period is required to participate. This plan establishes individual employee accounts at Merrill Lynch, with Kyocera paying all brokerage fees for the purchase of Kyocera Corporation ADR stock and all brokerage fees for the reinvestment of dividends.
Tuition Reimbursement Program
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.
Flexible Benefit Plan
This plan permits employees to pay certain expenses (such as insurance premiums, medical care and dependent-care costs) with pre-tax income, rather than income that has already had Federal, State, and FICA taxes withheld.
Service Award Program
Kyocera recognizes company service with special gifts at various anniversaries of the employee's hire date.
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