Silverado offers a 401(k) retirement savings plan, administered by Mass Mutual, to help you save for the future while reducing your taxes today. You are eligible to participate in the plan if you’re a regular part-time or full-time associate who has completed 3 months of service and you are at least 18 years old. Silverado offers both a pre-tax and Roth option.

You can contribute from 1% to 100% of your eligible earnings each year, using a flat dollar or percentage contribution per paycheck up to the IRS maximum ($19,000 for 2019). In addition, if you are age 50 or older, you can contribute an additional $6,000 as a catch-up contribution. Once eligible, contribution elections will start within approximately two pay periods.

When the company does well, you may get an additional boost to your savings through the company match, Silverado’s contribution is vested over time. If you leave employment due to termination, you are entitled to your employer contributions along with earnings, based on the following schedule:

Vesting Schedule
Year 1 20%
Year 2 40%
Year 3 60%
Year 4 80%
Year 5 100%


Generally, to calculate your vested benefit under the Plan, your Years of Vesting Service are used to determine where you are on the vesting schedule. You will be credited with a Year of Vesting Service for each year in which you work at least 1,000 hours. Please refer to the Plan Documents for details.

The Silverado 401(k) Plan lets you take charge of your retirement by saving with pre-tax or Roth after-tax dollars through payroll deductions. We have partnered with MassMutual to administer Silverado’s 401(k) Plan.

Watch the Planning for Retirement presentation here >>

6 Reasons to Contribute to your 401(k) account
  1. It’s EASY
  2. TAX-DEFFERED savings
  3. You owe it to YOUR FUTURE
  5. You can TAKE IT WITH YOU
Your Plan Eligibility
  • Age 21
  • 3 months of service
How to Enroll
How Much Can You Save
  • Through payroll deductions, you can save yp to 100% of your pay.
  • Contributions are made with pre-tax and/or Roth after-tax dollars. Your total contributions may not exceed the IRS limit of $19,000 in 2019 and if you are 50 or older, you can contribute an additional $6,000.
  • You are able to change your contribution amount anytime by going online at or by calling MassMutual at (800) 743-5274.
How Much Will Silverado Contribute?

When the company does well, you may get an additional boost to your savings through the company match. For 2016, the company will make a matching contribution of 10% up to the first 4% of your salary that you contribute to the Plan. That means if you’re not contributing at least 4%, you’re missing out on free money!

Matching contributions are deposited to your account once per year and vest at 20% per year with full vesting at 5 years. The company match is discretionary and may vary from year to year.

Download the MassMutual Enrollment Packet for more information.

We’ve made this as easy as possible to enroll or make changes:
  1. Call Mass Mutual at (800) 743-5274 and speak directly to a helpful Mass Mutual Representative.
  2. Go online and Enroll in 2 Clicks:
    Log on to the participant website at and select “Create Account” to create Username, Password and PIN. You will also use this PIN on the voice message phone system

  • Choose the savings amount and investments or select your own
  • Confirm your preference for electronic delivery of documents