JK Moving invests half its net profits in employees’ retirement plan

Sep 30 | 2020

Despite the economic downturn, US-based JK Moving Services has made a significant investment in the long-term future of its employees.

JK Moving CEO Chuck KuhnIn September, the company distributed nearly $2 million into eligible employees’ 401K retirement accounts as part of its profit-sharing programme. This is the second-highest annual amount contributed to the programme in the company’s history.  Over the lifetime of the programme, JK has disbursed more than $25 million into eligible employees’ accounts.

Chuck Kuhn, founder and CEO of JK Moving explained, “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 programmes are part of our commitment to them. This year, it took longer to become profitable, but with sacrifices and hard work across the enterprise, we are again thriving.”

The contribution was made during the same month as National 401K Day - a national day marking the importance of retirement programmes. JK’s annual investment represents 5.5% of annual salary for eligible employees.  This breaks down to 3% into the Safe Harbor 401K programme and another 2.5% from the profit-sharing component. JK 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.

JK says it is committed to attracting and retaining the very best employees and provides its team members with ongoing career development along with a range of employee benefits, including a formal wellness programme and other health care services.

JK, along with its sister company CapRelo, employs nearly 1,100 people, the majority of which live in the Washington, DC metropolitan region. The company expects to expand its workforce in 2021 to handle demand and in anticipation of opening its Prince William County location.

The company has won numerous awards, including being recognised by the Washington Business Journal as a Best Place to Work and Top Corporate Philanthropist.


Photo: Chuck Kuhn