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401(k) Retirement Savings Account
Scorpion 401(k) Retirement Savings Plan, administered by ADP, on a pre-tax or after-tax basis offers a wide variety of investment funds so you can choose what best meets your needs.
Plan Details
| Feature | Detail |
|---|---|
| Plan Name | Scorpion 401(k) Retirement Savings Plan |
| Plan Type | 401(k) |
| Record Keeper | ADP |
| Website | My.ADP.com |
| Phone | 1-866-695-7526 |
| Automatic Enrollment | Yes |
| Default Contribution Rate | 3% |
| Opting Out | You will be given the opportunity to opt out or change your contribution rate. |
| Contribution Types | Pre-tax (tax savings on pre-tax contributions) and Roth (after-tax). You can choose to contribute to both traditional and ROTH depending on your specific needs. |
| Contribution Range | You may contribute 1% - 90% of your pay through convenient payroll deductions. |
| 2026 IRS Maximum | $24,500 |
| Catch-up Contributions (age 50 and over) | $7,500 |
| Investment Options | Choice of investment funds |
| Receiving Benefits | Before age 59½, you may withdraw funds only if you leave Scorpion, become disabled or experience a financial hardship. |
| Early Withdrawal | Any funds you receive before age 59½ may be subject to current taxes and possibly a financial penalty. |
| Loans | Interest rate of prime +1; $1,000 minimum/$50,000 maximum or 50% of your vested account balance; maximum loan term is five years for general use, 30 years for residential loans. |
| Rollovers | Savings from your previous qualified retirement plan(s) or a Rollover Individual Retirement Account (IRA) are accepted into the Plan. |
| Making Changes | You may change the amount you are contributing to your 401(k) and your investment allocations at any time via the ADP Mobile Solutions App, My.ADP.com or 1-866-695-7526. |
Plan Name
- Detail
- Scorpion 401(k) Retirement Savings Plan
Plan Type
- Detail
- 401(k)
Record Keeper
- Detail
- ADP
Website
- Detail
- My.ADP.com
Phone
- Detail
- 1-866-695-7526
Automatic Enrollment
- Detail
- Yes
Default Contribution Rate
- Detail
- 3%
Opting Out
- Detail
- You will be given the opportunity to opt out or change your contribution rate.
Contribution Types
- Detail
- Pre-tax (tax savings on pre-tax contributions) and Roth (after-tax). You can choose to contribute to both traditional and ROTH depending on your specific needs.
Contribution Range
- Detail
- You may contribute 1% - 90% of your pay through convenient payroll deductions.
2026 IRS Maximum
- Detail
- $24,500
Catch-up Contributions (age 50 and over)
- Detail
- $7,500
Investment Options
- Detail
- Choice of investment funds
Receiving Benefits
- Detail
- Before age 59½, you may withdraw funds only if you leave Scorpion, become disabled or experience a financial hardship.
Early Withdrawal
- Detail
- Any funds you receive before age 59½ may be subject to current taxes and possibly a financial penalty.
Loans
- Detail
- Interest rate of prime +1; $1,000 minimum/$50,000 maximum or 50% of your vested account balance; maximum loan term is five years for general use, 30 years for residential loans.
Rollovers
- Detail
- Savings from your previous qualified retirement plan(s) or a Rollover Individual Retirement Account (IRA) are accepted into the Plan.
Making Changes
- Detail
- You may change the amount you are contributing to your 401(k) and your investment allocations at any time via the ADP Mobile Solutions App, My.ADP.com or 1-866-695-7526.