Through Gen’s 401(k) retirement plan, you can save and invest your money for retirement. Plus, Gen matches $0.50 for each dollar you contribute, up to 7% of your compensation—not to exceed $6,000 or 3.5% of your total compensation.
Both your contributions and Gen’s contributions are always 100% vested, which means the money is yours to keep as soon as it is in your account.
Contribution options
You can make three kinds of contributions to your 401(k): pretax, Roth, and after-tax.
Pretax contributions
Pretax contributions
Your contributions come out of your pay before taxes, so you have more take-home pay than you would if you saved the same amount on an after-tax basis. However, all pretax contributions and earnings are subject to income tax when you make a withdrawal in the future.
- This may be a good option if you expect to be in a lower tax bracket after you retire, or if you want to pay lower taxes now by reducing your current taxable income.
Roth contributions
Roth contributions
Your contributions come out of your pay on an after-tax basis. You’ll have a little less in your paycheck than you would if you contributed the same amount on a pretax basis. Roth contributions offer the potential for tax-free income at retirement. You won’t pay taxes on the value of your contributions or any investment earnings when you withdraw money—as long as it has been five years since your first Roth contribution, and you are at least age 59½ or disabled.
- This may be a good option if you expect to be in a higher tax bracket in retirement, or if you are young and have more time to accumulate tax-free earnings.
After-tax contributions
After-tax contributions
As with Roth contributions, you pay taxes up front at your current tax rate. But with after-tax contributions, when you withdraw money at retirement, you pay taxes on the value of any investment earnings on your contributions.
- This may be a good option if you’re already contributing the pretax/Roth maximum and want to have after-tax income you can count on in retirement.
- To build more tax-free retirement income, you can convert your after-tax contributions to Roth by setting up automated Roth in-plan conversions with Fidelity.
Contribution limits
The IRS sets limits on how much you can contribute to your 401(k) each year.
| Contribution type | 2025 maximum |
|---|---|
| Pretax and/or Roth, combined | $23,500 |
| Gen matching contribution | $6,000 |
| Over age 50 catch-up (pretax and/or Roth, combined) | $7,500 |
| Total of all contributions (pretax, Roth, after-tax, and company match) | $70,000 ($77,500 over age 50) |
Investment options
Choose your funds. Fidelity provides a variety of investment funds so you can build a portfolio that meets your needs. If you’re not sure where to begin, consider the target-date funds. With a target-date fund, you select a fund named for a year close to when you expect to retire, and that fund’s mix of stocks, bonds, and other investments automatically becomes more conservative as the target year approaches.
Invest by yourself. Through Fidelity’s BrokerageLink, you can invest in an expanded range of investments beyond those in the Gen plan’s standard lineup. You’re responsible for all associated BrokerageLink fees.
To review your investment options and determine which approach is right for you, visit netbenefits.com or call 800-835-5095.
How to enroll or make changes
If you don’t elect a contribution percentage of 0% or greater within 30 days from your date of hire, you will be enrolled in the plan automatically at a contribution rate of 7% of your eligible pretax earnings.
You can stop or change your contributions, select your investments, or update your beneficiaries at any time by logging in to netbenefits.com or by calling Fidelity at 800-835-5095.
Don’t overcontribute
Important! Be sure to notify Payroll if you made contributions to another 401(k) plan during the current calendar year, so you don’t exceed the annual IRS contribution limit. Fill out the 401(k) limit request form [pdf] and send it to the Payroll Service Center address on the form.
