As I’ve previously communicated, my and Saia’s primary concern over the last several weeks as we’ve met the challenge of COVID-19 has been the health and safety of our employees. We have been working to make sure we have the policies and resources we need to protect employees and support our customers’ needs.

As you read in our March 27 employee letter, we’re offering several options that we believe can positively support and personally impact all Saia personnel and their families. This includes providing an additional five personal days to all hourly full‐time employees and one additional personal day for part‐time employees.

We are also offering full‐time, salary and hourly employees the opportunity to take advantage of a voluntary early retirement incentive, if they choose. Employees selecting this option will receive an early retirement grant of $10,000, before taxes. Those eligible include employees with 10 or more years of service and who are at least age 55. Employees will also be paid any unused vacation, including vacation that would have accrued for the current year and any remaining carryover days. This opportunity must be initiated by April 17.

Aside from this, employees can take advantage of a voluntary leave of absence. With the approval of one's manager, team members can take a minimum unpaid leave of absence of two weeks. Under the guidelines, employees can use their entire 2020 vacation allotment as well. However, personal days may not be used during this leave. All current benefits will be maintained, but premiums will still be the responsibility of the employee.

Some of you have also asked about accessing your 401(k) account. Fidelity Investments, who manages Saia’s 401(k) plan, has implemented the following protocols to help expedite the process of accessing 401(k) funds:

• If you need to implement an e‐certified hardship withdrawal, follow this process. The benefit for participants is that their wait times for their money is reduced from three to four weeks for the current paper process (none‐certified + check) to two to three days for the online process (e‐certified + electronic funds transfer (EFT)). This eliminates the need to mail paperwork back and forth and allows participants to remain at home and complete their transactions.
• Participants with phone numbers in Fidelity’s website (NetBenefits) will avoid a wait of three days for Fidelity to complete the third party authentication before they can add or update EFT information. If a participant looks to add EFT information through the call center, and does not have a phone number on file, the participant will experience a 10‐day wait to validate their EFT information. If a participant has both a phone number and EFT information on file, Fidelity can process the EFT same day.

Due to the uncertain environment we are currently experiencing, Saia is suspending the 401(k) employer match indefinitely. Employees can still to contribute to their 401(k); however, the Saia contribution will be suspended beginning April 1, reflected on hourly employees’ checks beginning April 8.

All Saia officers and director’s compensation will be reduced by 5% effective April 1 until there is greater confidence in the economy. Unfortunately, it will also be necessary to defer our annual wage increase scheduled for this July.

We continue to stress that if you are sick, are living with someone displaying COVID-19 symptoms, or has tested positive, we ask that you contact your healthcare professional, follow the quarantine guidelines, stay home, and contact your supervisor.

In closing, I am amazed at how we’ve all come together to weather this crisis, knowing that it isn’t easy for anyone. We all play a crucial role in keeping each other safe and our operations, our company, working.

My thanks to each of you again for everything you have done and continue to do on behalf of Saia.