Page 12 - 2017 MegaPath Benefits Guide_FINALV2
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BENEFITS
Retirement Savings
Wells Fargo | 401(k)
One of the best ways to accumulate the money you will need for retirement is to participate in the MegaPath 401(k) Plan. This plan
allows you to fund for your retirement with pre‐tax dollars. In the 2017 plan year, you may contribute a maximum of $18,000. If
you will be age 50 or older during the year, you may make a $6,000 catch-up contribution, for a total contribution of up to $24,000.
As a new hire of MegaPath you will receive plan information from Wells Fargo shortly after your hire date. MegaPath will
automatically enroll you at 3% on your 90th day of employment, if you do not make any changes. Your 401(k) contributions will be
deducted from your paychecks on a pre-tax basis and the money in your account will grow, tax- deferred, until you begin using it
for retirement.
MegaPath also offers an employer match of $0.20 on every $1.00 contributed up to 6%. You are 100% vested after completing 4
years of service.
Accessing Your 401(K)
To obtain more information on the MegaPath 401k plan or to make changes to your 401k account,
contact Wells Fargo at (800) 728-3123 or go to www.wellsfargo.com/retirementplan.
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