December 05, 2023
401K Open Enrollment Begins Now!
Eligibility to participate in MGBW’s 401K plan is based on employment with Marine Group Boat Works for six (6) months, being 21 years of age, and having worked a minimum of 1,000 hours.
401K is a pre-tax payroll deduction. The money is yours to invest for your retirement and will always be yours, even if you leave the company. You may have any percent deducted, from 0% – 100% from each paycheck and deposited to your account. No amount is too small to start saving for your retirement. You may want to start at 2-5% and increase your percentage later or you may want to start at a higher percentage now. The choice is always yours. The maximum amount you may deposit into the plan for 2024 is $23,000. If you’re age 50 and older, you can add an extra $7,500 per year in “catch-up” contributions.
NOW IS THE TIME TO MAKE CHANGES TO YOUR ACCOUNT AT FIDELITY!
To choose your investment options, please go to Fidelity Net Benefits at www.401k.com, the NetBenefits mobile app at https://www.fidelity.com/go/NetBenefitsapp, or call the Fidelity Retirement Benefits Line at 1-800-835-5097 (1-800-587-5282 for assistance in Spanish).
You can also go online virtually anytime at http://e-learning.fidelity.com/ to access Fidelity’s e-Learning(R) Workshops. These workshops provide the education you need, plus interactive calculators and quizzes, to help you make the most of your retirement savings plan.
It is important for each eligible 401(k) participant to make changes to their account (online or by phone) by Friday, December 22, 2023. Payroll deductions are effective January 1, 2024.
Enrollment or contribution changes that occur after December 22, 2023, will not be effective until April 2024.
Please call Human Resources at (619) 591-0180 or email delia@marinegroupbw.com if you have any questions.
