In a year filled with more than its fair share of bad news, here’s some good news about a company going the extra mile for its employees.
Despite the economic downturn, JK Moving Services recently made an investment in its employees. In September, the company distributed nearly $2 million into eligible employees’ 401k accounts as part of its profit-sharing program and “in keeping with the company’s values of care and respect,” according to a recent statement.
This is the second-highest annual amount contributed to the program in the company’s history. Over the lifetime of the program, JK Moving Services says it has disbursed more than $25 million into eligible employees’ accounts.
“I saw how hard it was for my parents to save for retirement. When I started JK, I wanted to help my employees have an opportunity to build wealth and afford to retire. Our employees commit to us and our customers, and our profit-sharing programs are part of our commitment to them,” said Chuck Kuhn, founder and CEO, JK Moving. “This year, it took longer to become profitable, but with sacrifices and hard work across the enterprise, we are again thriving.”
JK’s annual investment represents 5.5% of annual salary for eligible employees. This breaks down to 3% into the safe harbor 401k program and another 2.5% from the profit-sharing component. The company said it was able to continue this commitment by taking measures early on during the pandemic to cut costs and manage expenses, including members of the executive team taking a pay cut.
The Sterling, Va.-based company said it is committed to attracting and retaining the “very best employees” and provides its team members with ongoing career development and a path for advancement.
The company also offers a formal Wellness Program; competitive compensation; a generous safe harbor employees’ 401k and company-paid profit-sharing program; tuition reimbursement; paid time off; an Employee Assistance Program; comprehensive medical, dental vision, and ancillary benefit coverages; bonus incentives; and employee volunteer opportunities—including the JK Community Farm, which is supported by JK Moving and grows and donates fresh produce and protein to the area’s food insecure.
JK, along with its sister company CapRelo, employs nearly 1,100 people—a majority of which live in the Washington, D.C. metropolitan region. The company has won numerous awards, including being recognized by the Washington Business Journal as a Best Place to Work and Top Corporate Philanthropist.
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.
