401(k) Retirement Plan
Plan Overview
Whether you are just starting your career or retirement is on the horizon, invest in your future with our Fidelity 401(k) plan. Contributions can be deducted pre- or post-tax from each paycheck, and the amount can be changed at any time during the year.
401(k) Pre-Tax and After-Tax
Retirement Account Comparisons
Questions | Pre-Tax | Roth | After-Tax with In-Plan Roth Conversion |
---|---|---|---|
Are contributions taxed? | No | Yes | Yes |
Are distributions taxed? | Yes | No | No |
Are contributions matched? | Yes | Yes | No |
Are earnings taxed when distributed? | Yes | No | No |
Annual limits* for employees under age 50 | $23,000 | Combined Limit for All Contribution Types: $69,000 | |
Annual limits* for employees age 50 and over | $30,500 | Combined Limit for All Contribution Types: $76,500 | |
Discretionary Company Match |
|
*New Hires: In an effort to limit over-contributions, we ask that you complete, sign, and date the 401k Year-to-Date Contribution Form indicating the amount of pre-tax and Roth contributions you have made to one or more 401(k) plans year-to-date prior to joining the 8×8 Inc.
Important!
In Plan Roth Conversion
If you are participating in after-tax contributions, once the funds are in your 401(k) account for the first time, call Fidelity at (800) 557-1900 to initiate the Roth conversion. Tell the Fidelity Operator you would like to be added to “Automatic Roth Conversions” and all After Tax deposits will be automatically converted to Roth in the future. You only have to do this once, but it’s incredibly important so that you don’t have unfavorable tax treatment on these contributions.
401(k) Automatic Deferral
If you don’t enroll and elect your deferral amounts within 30 days of hire you will automatically be enrolled at 5% pre-tax deferral.
Contact Fidelity
Member Services
(800) 294-4015
Visit Website
Financial Advice
You have access to one-on-one financial and investment advice through our partnership with SageView Financial.
Contact Eric Weissman at
(650) 446-3790 or
eweissman@sageviewadvisory.com.
Resources
- Understanding Your 401(k) Plan Benefits: Contribution & Investment Strategies
- How to Roll Funds into the Plan
- Understanding Your 401(k) Plan Investment Options
- Get Started and Save for the Future You
- Fidelity’s ‘Five Money Musts’
- Fidelity’s ‘How You Money’ Tips
- 401k Year-to-Date Contribution Form
- Organize, Plan and Own Your Future