Did you know that Texas Regional Bank matches a portion of your 401(k) contributions?

In fact, the bank will match 50% of every $1.00 you contribute up to an annual maximum employer match of 4% of your gross salary.  So, for every dollar you contribute, the bank contributes $0.50.

Fifty cents? What’s the big deal?

Well, that $0.50 can be a big deal over time.  Let’s say you contribute $1,000 to your 401(k) this year.  The bank matches it with another $500.  But here is the fun part: when invested, that $500 grows every year and can turn into $2,300 over the course of 20 years (and $5,000 in 30 years for those just starting your careers).*

Now imagine if you do this every year!

The article title is a little misleading…it’s not really free money because it’s part of your compensation. There are plenty of reasons to contribute to your 401(k); we think the employer match is important because you’ve earned it. 

Enroll / manage your plan at www.mykplan.com

Note: Employer match does not take effect until the first anniversary of your eligibility date.  We are on a vesting schedule, as well. Effective February 01, 2022, all eligible employees are automatically enrolled in the Bank’s 401(k) Retirement Plan with a contribution of 3%.  Please refer to the Summary Plan Description (SPD) for more details.