2 minute read
Watco Adds Extra Incentive to 401(k) Program
by OneWatco
Want a chance to win a Yeti cooler and earn free money toward your retirement? That’s exactly what Watco’s 401(k) program and participation contest allows team members to do.
Through our partner, BOK Financial, Watco matches 50% of all team member contributions into their 401(k) retirement fund, up to 10% of each paycheck.
“That free money is something you can’t pass up,” said Gunnar Gronberg, senior accountant. “There was no hesitation for me. Someday, I want to retire, but it’s no easy task. But using Watco’s 401(k) account to set aside that money keeps you accountable and helps you stay on track.”
Now, the Benefits team is adding extra incentives. From the beginning of August through September 30, team members can earn entries to win one of three Yeti coolers by participating in 401(k)-related activities. The contest is open to current users and those looking to sign up for the first time. Team members can earn entries by completing the following:
• Register online with BOK at startright.bokf.com
• Increase their contribution by 1% or more, or if contributing a flat dollar amount, increase their contribution by $10 or more.
• Enroll in 401(k) auto-escalation
• Attend a live 401(k) educational webinar (dates and times announced soon)
• Complete BOK Financial Wellness modules in Watco U
• Add or update your beneficiary with BOK
Each item completed earns you one entry into the contest.
James Trammell, an operator at the Tulsa Port of Catoosa, says just taking that first step is most important. He enrolled in Watco’s plan as soon as the company acquired his terminal.
“You don’t always have the self-discipline to put aside that money yourself,” Trammel said. “Everyone should try to contribute to a 401(k), as much as they can afford. Any amount that you can do is a good thing. It all adds up. I wish I’d been doing this a lot longer. The sooner you start the better off you’ll be in the long run.”
Watch your email and text messages from the Watco Benefits team for more information about the contest and 401(k) information.
