The investment of the other half of the matching will be directed into the same investment options that the employee has selected for their salary deferral portion. Matching accounts vest incrementally over a five year period and are not taxed until withdrawn. The third part of the Plan permits the Company to make discretionary profit sharing contributions to participants. If discretionary profit sharing contributions are made, allocations are made to participants on the basis of the ratio of their individual compensation compared to the total compensation of all participants. Profit sharing accounts vest incrementally over a five year period and are not taxed until withdrawn.
Employees have the opportunity to purchase Titan common stock at a significant discount.
There are two offering periods per year. The ESPP summary plan description, which describes the plan and eligibility requirements in more detail, is available upon hire. Employees may elect to purchase additional life insurance for themselves at either one or two times their annual salary, up to the maximum stated above, for a total of three or four times their annual salary. Medical Insurance HTI offers eligible employees and their eligible dependents, group medical and dental insurance coverage at economical group rates payable through convenient payroll deductions. Most HTI locations have an extensive directory of participating physicians, hospitals, etc.