Saving for retirement is one of the most crucial financial decisions you'll ever make, and your 401(k) is often a cornerstone of that plan. Life changes, income fluctuates, and sometimes, you just want to optimize your savings. If you're a Fidelity 401(k) participant and you're looking to adjust your contributions, you've come to the right place! This comprehensive guide will walk you through the process step-by-step using the Fidelity NetBenefits platform, which is typically accessed for employer-sponsored plans.
Ready to take control of your retirement savings? Let's dive in!
Step 1: Accessing Your Fidelity NetBenefits Account
The first and most crucial step is getting logged into your Fidelity NetBenefits account. This is where you'll manage all aspects of your employer-sponsored retirement plan.
Sub-heading 1.1: Registering for First-Time Users
If you're a first-time user or haven't accessed NetBenefits before, you'll need to register.
Go to
www.netbenefits.com Look for the "Register" or "New User" link.
Follow the prompts to verify your identity. This usually involves providing your Social Security number, date of birth, and possibly your plan number or employer's name.
Create a unique username and a strong password. Remember to keep these credentials secure!
Sub-heading 1.2: Logging In for Existing Users
If you already have an account, the process is straightforward:
Navigate to
www.netbenefits.com Enter your Username and Password in the designated fields.
Click "Log In."
Pro Tip: Consider enabling multi-factor authentication (MFA) for added security on your account. This provides an extra layer of protection beyond just your username and password.
 |
| How To Change 401k Contribution Fidelity App |
Step 2: Navigating to the Contribution Section
Once you're successfully logged into your Fidelity NetBenefits account, you'll need to locate the section dedicated to managing your contributions. The interface is designed to be user-friendly, but here's how to find it:
Tip: Every word counts — don’t skip too much.
Sub-heading 2.1: Locating Quick Links
On the NetBenefits home page, after logging in, look for a section or menu typically labeled "Quick Links" or similar. This is often on the right-hand side or prominently displayed.
Within the "Quick Links" menu, you should see an option like "Contribution Amount" or "Change Contributions." Select this option.
Sub-heading 2.2: Alternative Navigation (If Quick Links aren't obvious)
If you can't immediately find "Quick Links" or "Contribution Amount," explore the main navigation menus. Look for terms like:
"Your Accounts"
"Manage My Plan"
"Retirement"
"Contributions"
Eventually, you will find a path that leads you to manage your 401(k) contribution amount.
Step 3: Initiating the Contribution Change
You've found the right section – now it's time to tell Fidelity what you want to do!
Sub-heading 3.1: Selecting "Change Contribution Amount"
After clicking on "Contribution Amount" (or similar), you may be taken to a summary page. Look for another button or link that says "Change Contribution Amount" or "Begin Change Contributions." Click this to start the modification process.
Sub-heading 3.2: Understanding Your Contribution Types
Fidelity's interface will typically present you with options for different contribution types. It's crucial to understand what each means:
Pre-Tax 401(k) (Traditional): Contributions are made with pre-tax dollars, reducing your current taxable income. Taxes are paid when you withdraw in retirement.
Roth 401(k): Contributions are made with after-tax dollars. Qualified withdrawals in retirement are tax-free.
After-Tax 401(k) (Non-Roth): Some plans allow additional after-tax contributions beyond the regular 401(k) limits. These grow tax-deferred, and earnings are taxed upon withdrawal. This is often used for a "Mega Backdoor Roth" strategy, but requires careful planning.
Your employer's plan may not offer all of these options, so you'll only see what's available to you.
Tip: Write down what you learned.
Step 4: Adjusting Your Contribution Percentage or Amount
This is the core step where you make the actual change to your savings.
Sub-heading 4.1: Modifying Regular Pay Contributions
You'll typically see fields where you can enter a percentage of your pay that you wish to contribute, or sometimes a flat dollar amount.
Carefully enter your desired new contribution rate for Pre-Tax, Roth, and/or After-Tax 401(k)s.
Consider your financial goals:
Are you contributing enough to get the full employer match? This is often considered "free money" and a top priority.
Are you aiming to reach the annual IRS contribution limits? (For 2025, the employee contribution limit for 401(k)s is $23,500. If you're 50 or older, you may be eligible for an additional $7,500 catch-up contribution, bringing your total to $31,000, or $11,250 for ages 60-63, making it $34,750, if your plan allows.)
Are you trying to increase your savings by 1% each year as recommended by many financial advisors?
Important Note: Changes typically take 1-2 pay periods to go into effect, so plan accordingly.
Sub-heading 4.2: Adjusting Bonus Pay Contributions (If Applicable)
If your plan allows for separate contributions from bonus pay, you'll see dedicated fields for "Pre-Tax Bonus," "Roth Bonus," and/or "After-Tax Bonus."
Adjust these percentages as desired. Many people choose to defer a larger portion of their bonuses into their 401(k) to maximize savings and potentially reduce immediate tax liability.
Step 5: Reviewing and Submitting Your Changes
Before finalizing, always double-check your elections.
Sub-heading 5.1: Reviewing Your Elections
After making your adjustments, there will usually be a "Review" or "Continue" button. Click this to proceed.
You will be presented with a summary of your current contributions and your desired new contributions.
Carefully verify that all percentages and amounts are correct and reflect your intentions. An error here could impact your paycheck and retirement savings significantly.
Sub-heading 5.2: Final Submission and Confirmation
If you are satisfied with your review, click the "Submit" or "Confirm" button.
Fidelity will then process your request. You should receive a confirmation screen with a confirmation number. It's highly recommended to print or save a copy of this confirmation for your records.
You will typically also receive an email confirmation of your change. Keep this email as well.
Congratulations! You have successfully changed your 401(k) contribution through the Fidelity NetBenefits platform. Regular review of your contributions is a smart financial habit, ensuring your retirement savings align with your evolving goals and circumstances.
QuickTip: Let each idea sink in before moving on.
Frequently Asked Questions (FAQs)
Here are 10 related FAQ questions with quick answers to further assist you:
How to Check My Current 401(k) Contribution Rate on Fidelity?
You can typically check your current contribution rate by logging into NetBenefits, going to your 401(k) plan summary, and looking for a section like "Contributions" or "My Payroll Contributions."
How to Know If My Employer Offers a 401(k) Match on Fidelity?
Log into NetBenefits, navigate to your 401(k) plan details, and look for "Plan Information," "Plan Highlights," or "Employer Contributions." This section will outline your employer's match policy, if any.
How to Determine the Ideal 401(k) Contribution Percentage?
A common guideline is to aim for 10-15% of your gross income, including any employer match. However, the ideal percentage depends on your age, financial goals, and other savings. Prioritize contributing enough to get the full employer match first.
How to Handle Over-Contributing to My 401(k)?
If you inadvertently contribute more than the IRS limit, contact your employer's HR or payroll department immediately. They will work with Fidelity to process a return of excess contributions to avoid penalties.
Tip: Pause whenever something stands out.
How to Change My 401(k) Investments on Fidelity?
To change your investment elections, log into NetBenefits, find your 401(k) plan, and look for options like "Change Investments" or "Manage Investments." You can typically choose to change future contributions or rebalance existing funds.
How to Access My Fidelity 401(k) Statement?
After logging into NetBenefits, look for "Statements & Documents" or a similar section to view and download your periodic 401(k) statements.
How to Contact Fidelity for 401(k) Support?
You can typically find Fidelity's customer service contact information (phone numbers and sometimes chat options) within the NetBenefits portal under "Contact Us" or "Help."
How to Understand the Difference Between Pre-Tax and Roth 401(k) Contributions?
Pre-tax contributions reduce your current taxable income and are taxed upon withdrawal in retirement. Roth 401(k) contributions are made with after-tax money, and qualified withdrawals in retirement are tax-free.
How to Know My 401(k) Contribution Limits for the Current Year (2025)?
For 2025, the employee contribution limit for 401(k)s is $23,500. If you are age 50 or older, you can contribute an additional $7,500 as a catch-up contribution (total $31,000), or $11,250 for ages 60-63 (total $34,750), if your plan allows. These limits are set by the IRS and can be found on Fidelity's website or IRS publications.
How to Roll Over an Old 401(k) into My Current Fidelity Plan?
Log into Fidelity.com (or NetBenefits if your current plan is there), and look for options related to "Rollover an old 401(k)" or "Consolidate Accounts." Fidelity provides guided steps for direct rollovers from previous employer plans.
 |
