With the Wells Fargo & Company 401(k) Plan, you can easily set aside dollars for your retirement and enjoy the following benefits:
Vesting. Your own contributions to the 401(k) Plan are always 100% vested. In addition, all team members participating in the Wells Fargo 401(k) Plan will be 100% vested in company matching contributions and Share Award contributions.
Note: You will become 100% vested in your employer discretionary contributions after you complete three years of vesting service.
- Catch-up contributions. If you are at least age 50 or will reach age 50 during the plan year, you may contribute before-tax catch-up, Roth catch-up contributions, or a combination of both to your Wells Fargo 401(k) Plan account up to the IRS limit.
- Matching contributions. When you actively contribute to the 401(k) plan, you're eligible for company matching contributions dollar for dollar, up to 6% of your eligible pay (assuming that you meet all eligibility criteria). Company matching contributions begin the first day of the quarter after you complete one year of service.
- Roth contributions. You can make Roth contributions to your Wells Fargo 401(k) Plan account, which are deducted on an after-tax basis.
- Employer discretionary profit sharing contribution. Wells Fargo may - at its discretion - contribute up to 4% of your annual eligible pay based on company performance. All eligible team members will qualify, even if you do not contribute to the Wells Fargo 401(k) Plan.
- Share Award. Wells Fargo may provide a discretionary contribution known as a "Share Award."
Take advantage of rollover contributions
You can roll over your 401(k) account from a previous employer's qualified plan or from an Individual Retirement Account (IRA) into the Wells Fargo 401(k) Plan.