Profit Sharing Retirement Trust
Account Balance Projection
Estimated Plan Projection
The projection and estimate set forth above are for illustrative purposes only and are not promises or guarantees of a particular amount of benefits under the Plan. Several assumptions were made in preparing this projection and estimate, including, but not limited to, your current age and the assumptions that you will remain employed by Les Schwab or one of its participating affiliates until age 65, that your eligible compensation will increase by 2% per year, that your employer will continue to make a contribution to the Plan of 15% of your eligible compensation each year, that forfeitures equal to 1% of your employer’s annual contribution will be allocated to your account each year and that the Plan’s assets will earn 8% each year. If your actual experience differs from these assumptions, then the amount of the benefit you actually receive under the Plan will differ from the amount shown in this projection and estimate. Les Schwab may amend the Plan (or reduce the amount of its future contributions, including eliminating future contributions, to the Plan) at any time. However, no amendment will reduce the benefit you have already accrued under the Plan (although your benefit will continue to be adjusted for the investment return experienced by the Plan until your benefit is distributed).
This Projection does not create any promise or guarantee of future pay increases, continued employer contributions or continued employment with Les Schwab or its affiliates.
The projection and estimate set forth above are for illustrative purposes only and are not promises or guarantees of a particular amount of benefits under the Plan. Several assumptions were made in preparing this projection and estimate, including, but not limited to, your current age and the assumptions that you will remain employed by Les Schwab or one of its participating affiliates until age 65, that your eligible compensation will increase by 2% per year, that your employer will continue to make a contribution to the Plan of 15% of your eligible compensation each year, that forfeitures equal to 1% of your employer’s annual contribution will be allocated to your account each year and that the Plan’s assets will earn 8% each year. If your actual experience differs from these assumptions, then the amount of the benefit you actually receive under the Plan will differ from the amount shown in this projection and estimate. Les Schwab may amend the Plan (or reduce the amount of its future contributions, including eliminating future contributions, to the Plan) at any time. However, no amendment will reduce the benefit you have already accrued under the Plan (although your benefit will continue to be adjusted for the investment return experienced by the Plan until your benefit is distributed).
This Projection does not create any promise or guarantee of future pay increases, continued employer contributions or continued employment with Les Schwab or its affiliates.