Local Moving Company Launches Innovative Profit Sharing Plan to Make "Millionaires!"
JK President/CEO contributes more than a million dollars in 2003 for participating employees.
May 18, 2004—Sterling, VA—When Chuck Kuhn, President of JK Moving & Storage, says he invests in the future of his employees, he means it literally.
Through the implementation of a generous Profit Sharing Retirement Plan, Kuhn and his company contributed more than a million dollars in 2003 for participating employees. Assuming continuing contributions and a reasonable investment return, this unique employer-funded plan means an employee making $35,000 a year can retire a millionaire after 25 years of service.
Built upon a foundation of high-level service and unparalleled client satisfaction, JK Moving & Storage credits its reputation to the quality of the entire JK team, beginning with the front office and sales departments and filtering down the line to the movers and the warehouse staff. "If you're truly dedicated to providing quality service on the customer end, you must first make the commitment to teaching, preaching and training quality from the employee side," Kuhn said. "To reach that plateau, we begin with one of the most comprehensive training programs in the moving and storage industry. Then, we reinforce that training throughout every level of our employees' professional development." As a result, JK Moving & Storage enjoys a phenomenal claims-free rate of 98 percent. According to Kuhn, JK's innovative retirement plan serves to solidify that message, while enhancing the company's ongoing commitment to the future of their employees.
Under the plan, Kuhn may contribute an amount equaling up to an additional 25 percent of an employee's annual earnings to the retirement plan that remains untaxed until withdrawal. In 2003, JK contributed an amount equal to 15 percent of participating employees' 2003 earnings to this plan.
What's perhaps most interesting about the JK retirement program is the industry in which it operates. Few moving companies keep employees even long enough to start a retirement plan; but a number of JK's employees have been with the company since near its inception in 1982. The majority of JK Moving & Storage staff are full time employees, which allows them to qualify for the retirement plan while enhancing improved customer relations and productivity. "This all adds up to an unparalleled retention rate among our employees," Kuhn said. "That's virtually unheard of, in our industry."
Winner of numerous awards, accolades and professional achievements, JK Moving & Storage is recognized as the fifth-largest independent mover in the nation.