No, eligibility requirements are determined by Fidelity and are captured in the plan documents. You must offer this plan to all of your eligible employees.

All employees (full-time, part-time, seasonal, and union) are immediately eligible to participate in the plan if they are at least 18 years old, unless they are excluded* under plan terms. There are no length of service requirements (days or months).

*Employee exclusions under plan terms include nonresident aliens, etc. See plan documents for more information.

Your employees, including yourself, will receive a welcome email from Fidelity with instructions on how to enroll via our NetBenefits^® mobile app.

Note: Also available in Spanish.

By offering the Fidelity Advantage 401(k)℠ plan, contributing employees will receive the company match to help them save for retirement. Providing this 401(k) may also help you retain and attract employees.

Employees can choose how much to have deducted (pre-tax, Roth, or a combination of both) from each paycheck to put into their account (up to plan limits per the IRS). Some rollover contributions are also allowed.

Yes, employees can withdraw money, but keep in mind that a 401(k) is designed for long-term savings so there are withdrawal limitations if under age 59½. Certain types of withdrawals are available, such as e-certified hardship withdrawals. See plan documents for more details.

Note: Loans are not available at this time.

Your employees can choose between a target date fund, which allocates investments based on an assumed retirement date, or they can build their own portfolio from the available funds in the plan.