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8 • Feature
Requesting a loan from your
Austin 401(k) plan may seem
like a good idea, but it may reduce
the retirement savings that you
have worked hard to accumulate.
Before taking a loan from your
Austin 401(k) plan, consider all of
your financial options and the effect
the loan can have on your future
comfort and savings. Tapping into
your savings for short-term expenditures
rarely offsets the long-term
consequences.
Before tapping into your Austin
401(k) plan savings, ask these questions:
(Continued from page 3.)
or have used Vela. It really comes
down to cost when considering using
it for a project. I would recommend
it for all projects.
Span: What are the benefits?
Evans: All issues, checklists,
punchlists, etc., that you create in
Vela are available in a searchable
format to all project-specific users.
For example, if you are the drywall
subcontractor you can log into Vela
and run a report of all outstanding
issues that apply only to your
company. This allows the different
trades to focus on their tasks without
being distracted by all the other
issues. Conversely, as the general
contractor we can use this data to
determine such things as who is
falling behind and who is doing a
good job. s
THE SPAN
The Austin Advantage 401(k) Plan
Don’t let a loan hurt your savings THE SPAN
• Vela software manages
construction tasks
February/March 2012
• Am I living within my means?
• Is this money really that important?
• Can the money come from another
source?
• Do I want to sacrifice part of my
paycheck to pay off the loan?
• Will I wish that I had this money
at retirement?
• What if I leave Austin Industries?
The after-effects
Is it a good idea to request a loan?
Consider:
• You reduce the amount of savings
available to grow and compound.
• You may have to work longer to
make up lost ground.
• If you leave Austin Industries, you
have to pay off your entire balance
within 90 days in order to avoid a
taxable distribution.
• You must pay fees, including a
one time loan application fee ($35
when applying online or through
the VOICE® Network, $85 when
applying by phone with personal
assistance from a Vanguard associate),
and an annual maintenance
fee of $20. And these fees can not
be paid by check; instead, they’re
swept from your account balance,
reducing your assets even more.
Get all the facts
You can get even more information
by going to vanguard.com anytime
or by calling a Vanguard Participant
Services associate at (800)
523-1188 from 7:30 a.m. to 8 p.m.
Central time. s
All investing is subject to risk.
Vanguard.com and VOICE are trademarks of The
Vanguard Group, Inc.
© 2012 The Vanguard Group, Inc. All rights
reserved. Used with permission.
Au s t i n industr ies
Austin Bridge & Road
Austin Commercial
Austin Industrial
Kay Bishop......................Editor
The Span is published bimonthly by
the corporate communications department
for Austin Industries employee-owners.
Address all correspondence to:
The Span
Communications Dept. • P.O. Box 1590
Dallas, Texas 75221
e-mail information to:
kbishop@austin-ind.com
www.austin-ind.com
© 2012 by Austin Industries, Inc.
An Equal Opportunity Employer
An intense concern for the development, success and
well-being of all Austin people... And an unrelenting
emphasis on performance.
Building on the base of our proud past, we’re
now creating our own future. We’re determined to
build a truly great company on the foundation of our
commitment to people and performance. That’s our
mission. That’s the Austin Advantage.
Austin Open Door Hotline
(800) 880-4991
The Austin Open Door Hotline is Austin Industries’
dispute resolution process. Employeeowners
have access to facilitators who can assist
with work-related complaints or questions.
Report inappropriate or unethical activity at
this toll-free number. All calls are answered by
an independent third party.
Austin Bridge & Road
Austin Commercial
Austin Industries
Austin Industrial
All calls are confidential.
It is the policy of Austin Industries to afford equal employment
opportunity to all qualified applicants and
employee-owners without regard to race, age, sex,
religion, national origin, veteran status or disability with
or without reasonable accommodation. Austin Industries
complies to the fullest extent with the Civil Rights Act of
1964, the Americans with Disabilities Act, the Immigra -
tion Reform and Control Act of 1986 and other applicable
regulations. It is the policy of Austin Industries to maintain
and ensure a work environment that is free of harassment,
intimidation and coercion at all locations, and in all facilities
where employee-owners are assigned to work.
© 2012 by Austin Industries