Prime Implements Retention & Rewards Program Designed Exclusively For Independent Contractors

Prime, Inc., an international leader in the refrigerated trucking , flatbed trucking and liquid bulk truckload industries, has implemented a program entitled Retention & Rewards (R&R) exclusively for Independent Contractors intended to enable them to plan and save for their future. This deferred compensation program is jointly contributed to by Prime and Success Leasing.

Prime's R&R Program is income tax-free and also compounds tax-free until payment is made to the contractor. It is unique because 100% of the $1,000 annual contribution is made by Prime with an additional $500 per year contributed to accounts of independent contractors who have a Success Leasing agreement as well. No contributions are required by independent contractors and in order to be eligible contractors need only complete one “contract year” with Prime defined as 12 consecutive calendar months of service. In addition, independent contractors who come to Prime and enroll in the R&R Program receive 50% credit for each year up to eight years, for time accumulated during their most recent period of service at the previous carrier. For example, an independent contractor who joins Prime after eight years of uninterrupted service with the previous carrier will be credited with four years of service as they start, that means they start with $4000 and only have 6 more years until they are fully vested.

Contractors become fully vested after completing 10 years, including any years of services credited. Contractors may choose from three different individual account options… Invista Capital Management – Large Cap Stock Index, Morgan Stanley Asset Management Asset Allocation, and an 8% interest per annum account which compounds annually. Contractors may designate beneficiaries and once they are 100% vested benefits are payable upon death, disability, and attainment of age 65. Benefit payment options are lump sum distributions and annual equal installments, up to 25 years.

Headquartered at the intersection of I-44 and Highway 65 in Springfield, Missouri, Prime's fleet currently features over 3,000 trucks. The company continues to expand its scope of operations and has acquired other companies in recent years, further enhancing Prime's already extensive freight and customer base. The result for contractors and drivers has been an immediate and profound expansion of opportunities ranging from a larger variety of freight options to regional, dedicated and long haul choices.

In recent months, Independent Contractors at Prime have averaged 91 cents per mile that is well over the 80 cent per dispatched mile contractual guarantee. Prime features premium conventional equipment for independent contractors, in addition to regional opportunities and the ability to get started with no money down and no credit check and the 100% funded retirement program. Contractors teaming up with their spouse have proven to be one of the most profitable means of earning exceptional income at Prime. Prime features the most miles and the best revenue per truck in the business so joining forces allows even more efficient utilization of the truck and higher profit potential. Teams willing to run hard and work together routinely gross well over $250,000 per year.

Company drivers earn up to 34 cents per mile to start and are assigned to premium conventionals. Home time is excellent and Prime's rider program, exceptional benefits and compensation package, including a 401(k) retirement plan, makes Prime the perfect choice for company drivers too.

Prime's Student Driver (PSD) Program enables inexperienced drivers to acquire a CDL and enter a 90-day training program where they receive guaranteed pay of $400 per week for the first 30 days and $500 per week while training on the truck until they get their first truck or have reached six months of service.

Another key aspect of Prime's program is their Fuel Surcharge plan that helps keep fuel costs under control even when prices rise. Prime's unique program means that contractors receive 100% of all fuel surcharges paid by customers. Since August of 1999, over $60 million has been paid directly to operators in fuel surcharges, resulting in fuel costs to the operator averaging $1.08 to $1.11 per gallon. In addition, Prime compensates independent contractors even if a sufficient fuel surcharge is not levied. These comprehensive programs provide almost total protection to the operator.

Prime's ACE (Associate Career Enhancement) Program is designed to assist all Prime Associates to reach their full potential and their ACE II Program is specifically geared to enable contractors to more successfully run their own business. Prime's Millennium Building demonstrates the company's commitment to the success and satisfaction of every associate.

It features a host of amenities such as a food court, a deli, laundry, private quiet quarters, smoking and non-smoking lounges, short term sleep rooms, barber and beauty shops, a movie theater, broadband internet access, a basketball court, exercise equipment, a game room and much more. Prime invites all CDL holders to visit this impressive complex any time they're near the company's terminal at I-44 and Highway 65 in Springfield, Missouri.

For additional information about Prime, stop by the terminal and visit with Prime contractors, or call 1-877-PRIME JOB.

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