401(k) Retirement Plan

• Company Match: Dollar for dollar, up to 4%
• 2026 IRS Contribution Limit: $24,500

If you are age 50 or older and are eligible to add money to your 401(k) retirement plan, you can add money above the regular limits, referred to as a “catch-up” contribution.

• Catch-up Amount: $8,000

The Setting Every Community Up for Retirement Enhancement Act of 2022 (Secure 2.0 Act) allows you to contribute an even higher amount to your 401(k) retirement plan. If you turn 60, 61, 62 or 63 at any point during the 2025 tax year and beyond, you can contribute an additional $11,250 above the regular IRS limit. Each year the limits may be adjusted for cost of living by the IRS.

• Super Catch-up: $11,250
• Download Super Catch-Up Fact Sheet

There are several ways to manage and leverage your 401(k) funds:

• Annual Incentive Award Deferral Election - designate a different contribution percentage for an annual incentive award that is separate from your regular payroll contribution
• Rollovers - if you were a participant in another qualifying plan, you may elect a direct rollover or a participant rollover contribution be made into this plan.
• Loans - you may take a personal loan for any reason for up to a 5-year repayment term or apply for a home loan on your principal residence for up to a 15-year repayment term
• Withdrawals - withdraw all or a portion of your rollover contributions when you reach age 59 or you experience a hardship for an immediate and heavy financial need. Hardship withdrawals cannot exceed the exact amount to cover financial need, plus any income taxes or penalties related to the hardship withdrawal.
  

If the idea of getting professional help to manage your investments appeals to you, the Plan offers target date funds as a single fund solution based on an anticipated retirement date. Another option to help make sure your investments are aligned with your goals is to use a managed account service. With Fidelity® Personalized Planning & Advice, you get active retirement account management from professionals who invest, monitor and rebalance your account as needed to adjust to changes in the market or changes to your situation. Fidelity representatives are available to answer any questions you may have about this managed account service. Call 866-811-6041 for more information.

Whether you are just getting started, preparing to retire or somewhere in between, Fidelity offers a number of convenient educational resources to help you take your next steps. These resources can help simplify the planning process so you can focus on reaching your financial goals. The Planning & Guidance Center is accessible from the Planning link on your Fidelity NetBenefits® website home page (after you log in via www.netbenefits.com). Individual online tools are also accessible from the Calculators & Tools page (select Tools from the home page menu or the Calculators & Tools link in the Library).