CONTRIBUTE

There are several ways you can contribute:

Pretax^{1, 2}:
You may contribute 1% to 50% of eligible compensation up to the IRS limit. There are no federal or state taxes withheld from your contributions. Taxes will be due on contributions and earnings when a distribution is taken from the plan.
Roth^{1, 2}:
You may contribute 1% to 50% of eligible compensation up to the IRS limit. Contributions are made on an after-tax basis. Contributions and earnings are not subject to taxation at the time of a qualified distribution if made no earlier than five years after your first contribution.
Pretax STI^{1, 2}:
This is a separate contribution election specific to short-term incentive (STI) payments. You may contribute 1% to 50% of eligible compensation up to the IRS limit. There are no federal or state taxes withheld from your contributions. Taxes will be due on contributions and earnings when a distribution is taken from the plan.
Roth STI^{1, 2}:
This is a separate contribution election specific to short-term incentive (STI) payments. You may contribute 1% to 50% of eligible compensation up to the IRS limit. Contributions are made on an after-tax basis. Contributions and earnings are not subject to taxation at the time of a qualified distribution if made no earlier than five years after your first contribution.
After-Tax²:
Generally, this is used if you reach the IRS pretax and/or Roth 401(k) contribution limit for the year. You may contribute an additional 1% to 6% of eligible compensation (or up to the plan limit) on an after-tax basis, subject to the IRS limit. Taxes are due on contributions when made to the plan. Taxes are also due on earnings upon distribution. You may take advantage of Roth in-plan conversions to convert after-tax contributions to Roth 401(k) within the plan. Taxes are due in the year the conversion is made. You can set up recurring automatic conversions by calling Fidelity.
After-Tax STI²:
This is a separate contribution election specific to short-term incentive (STI) payments. Generally, this is used if you reach the IRS pretax and/or Roth 401(k) contribution limit for the year. You may contribute an additional 1% to 6% of eligible compensation (or up to the plan limit) on an after-tax basis, subject to the IRS limit. Taxes are due on contributions when made to the plan. Taxes are also due on earnings upon distribution. You may take advantage of Roth in-plan conversions to convert after-tax contributions to Roth 401(k) within the plan. Taxes are due in the year the conversion is made. You can set up recurring automatic conversions by calling Fidelity.
Catch-Up Contributions³:
Beginning in the year you turn 50, you may contribute an additional 1% to 100% of your eligible compensation on a pretax and/or Roth 401(k) basis.
- If you will reach age 50-59 or age 64-plus in 2025, you may contribute up to an additional $7,500 to the pretax and Roth 401(k) limit. This means you may contribute up to $31,000 for pretax and Roth 401(k).
- If you will reach age 60-63 in 2025, you may contribute up to an additional $11,250 to the pretax and Roth 401(k) limit. This means you may contribute up to $34,750 for pretax and Roth 401(k).

You may start, stop or change your contribution at any time.

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