What You Need to Know
Participating in the Hitachi Vantara 401(k) Retirement Savings Plan is one of the best things you can do to save for your future. All U.S. employees and interns are eligible to participate in the 401(k) Plan.
- All contributions you make are 100% vested immediately (you own them!), as well as any matching contributions from Hitachi Vantara.
- Flexible savings opportunities through traditional pretax or Roth contributions, or a combination of both.
- Access to professionally managed investments.
- Access to experienced retirement services professionals — to help get you on the right track to reach your retirement goals.
Hitachi Vantara gives you free money! And you’re 100% vested immediately in your matching contribution. We match based on your years of service:
- First year of service: 100% of up to 4% of eligible pay
- Second year of service: 100% of up to 5% of eligible pay
- Third year of service and beyond: 100% of up to 6% of eligible pay
Your VIP bonus, sales bonus or incentive compensation amount that you receive is automatically included as part of your eligible pay when calculating the matching contribution.
Enroll in the 401(k) Plan at any time with these simple steps:
- Visit Fidelity NetBenefits, or call 1-800-835-5095.
- Select your contributions and investments. Contribute as much as possible — try for at least 4%, 5% or 6% of your eligible pay so you can take full advantage of the company match.
- Don’t forget to designate your beneficiaries when you log in to Fidelity.
- Once you make elections, they’ll be effective within one to two pay periods.
How to Save
You have two ways to contribute: pretax and Roth. Which one you choose depends on how you answer a number of questions, such as:
- Can I afford to pay more taxes today and less taxes tomorrow?
- Do I have a long time to build tax-free money in my retirement account?
- Do I expect my tax bracket to be higher when I retire than it is now?
- Do I want tax-free money in retirement?
If you answered yes to most of those, then the Roth may be a good option for you. If you answered no to most questions, consider the pretax option.
Also, you don’t have to choose! You can have both. Check in with a financial adviser to discuss what the right option is for you.
Here’s How Both Work
|Limits*||Up to 75% of your eligible pay, but no more than the IRS limit ($19,500 in 2021)||Up to 75% of your eligible pay, but no more than the IRS limit ($19,500 in 2021)|
|Catch-up Contributions Limits
(Age 50 and older)
|Additional $6,500||Additional $6,500|
|Withdrawals||Subject to income tax||Tax-free†|
* Contribution limits refer to the combined total of Pretax and Roth contributions.
† Earnings are tax-free upon withdrawal if you own the Roth 401(k) account for at least five years and have reached age 59½.
Four Retirement Savings Tips
- Meet the match — don’t leave free money on the table.
- Keep your eye on the prize. Check your investments regularly.
- Reach out to Fidelity for information and planning tools to help you.
Your Investment Options
The way you invest in your 401(k) account is completely up to you. Your contributions, Hitachi Vantara's matching contributions and any funds that you roll over from another account can all be invested.
If you enroll but do not make an investment election, your contributions will be invested in the Fidelity Freedom Fund that most closely matches your anticipated retirement at age 65.
Fidelity Freedom Funds
If you want professional investors to select your funds and manage your portfolio, the Fidelity Freedom Funds may be a good option for you. These funds are diversified based on your retirement date, professionally managed and adjusted over time to lower your risk and maximize your return as you get closer to your retirement date. As always, you may wish to consult with your financial adviser to determine the best approach for you.
Portfolio Advisory Service
Life comes with enough surprises. But when it comes to your workplace savings, you shouldn't have to worry about them. That's why Hitachi has partnered with Fidelity to bring you Fidelity® Portfolio Advisory Service at Work. Their team of professionals will manage your workplace savings while helping you navigate the ups and downs of the market. With this added service, a team of investment professionals will:
- Propose an investment strategy aligned with your personal goals.
- Help you find a comfortable balance between risk and reward.
- Monitor your investments and work with you to make adjustments as your life changes.
Call them today and receive a complimentary review of your current investments and a proposed investment strategy. To start the conversation, call 1-866-811-6041 or visit fidelity.com/gethelp.
401(k) Retirement Savings Plan
Plan/Group Number: 93515
Phone: 800-835-5095, Monday–Friday, 8 a.m.–8 p.m.