Fidelity 401(k) Savings Plan
Getting ready for retirement is essential to wise financial planning. ZOLL sponsors a 401(k) Savings Plan through Fidelity to help you build a strong financial foundation for your retirement.
A Recipe for Your Future
A 401(k) plan can be a lot like preparing an exceptional meal. Watch this short video on the unique benefits of your Fidelity 401(k) Plan.
To learn more about the Plan:
- Review Getting started with your Fidelity Account
- Visit Resources for additional information, including Plan Documents
- Visit netbenefits.com to access learning tools and opportunities
- Attend webinars
To make saving for the future easier, we have designed the 401(k) Savings Plan to maximize your contributions and increase the money you save.
- You will be automatically enrolled with a 4% contribution on the 1st of the month following 90 days of continuous service unless you log into netbenefits.com and set your contribution percentage to 0.
- You can choose to contribute between 1% and 60% of your eligible pay up to the IRS annual limits. Take advantage of the company match by contributing at least 7%.
- You have access to a variety of different funds for your investments, and a team of professionals to help you choose an investment strategy that works with your goals and personal situation.
ZOLL helps you save for the future by contributing to your 401(k) too! The match is deposited whenever your contributions are made from your paycheck.
| 401(k) Savings Plan | |
|---|---|
| Your Contribution Options |
|
| ZOLL Match |
|
| 2024 IRS Maximum Annual Contribution (from all sources) |
$23,000 |
| Age 50+ Catch-Up Contribution in 2024 | $7,500 |
| 2025 IRS Maximum Annual Contribution (from all sources) |
$23,500 |
| Age 50+ Catch-Up Contribution in 2025 | $7,500 |
| Age 60 – 63 (in current year) Super Catch-up Contribution in 2025* | $11,250 (includes $7,500 regular catch-up noted above) |
| Enrollment System | Fidelity Investments – NetBenefits 1-800-835-5095 |
* Read all about the 2025 limits here.
Below is an example of how your deferral percentage and ZOLL’s match impacts your total contribution.
| 401(k) Deferral Example | ||||||
|---|---|---|---|---|---|---|
| Annual 401(k) Eligible Earnings | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 |
| Deferral % Options | 3% | 4% | 5% | 6% | 7% | 8% |
| Annual Employee Contributions | $1,500 | $2,000 | $2,500 | $3,000 | $3,500 | $4,000 |
| ZOLL Match | ||||||
| 100% on 1st 4% | $1,500 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 |
| 50% on 2nd 3% | $250 | $500 | $750 | $750 | ||
| Annual ZOLL Match | $1,500 | $2,000 | $2,250 | $2,500 | $2,750 | $2,750 |
| Full Year Employee + Employer Contributions | $3,000 | $4,000 | $4,750 | $5,500 | $6,250 | $6,750 |
Use the Fidelity Take Home Pay Calculator to compare the effects of different contribution rates.
Visit Fidelity’s Retirement Roadmap to saving for your retirement.
The money you contribute to the ZOLL Medical Corporation Employee Savings Plan, as well as any earnings on those contributions, are yours to keep. ZOLL Medical Corporation’s matching contributions and any related earnings will be yours to keep according to the following vesting schedule:
| Completed Years of Vesting | Vesting % |
|---|---|
| 0 | 0% |
| 1 | 0% |
| 2 | 20% |
| 3 | 40% |
| 4 | 60% |
| 5 | 80% |
| 6 | 100% |
| More than 6 | 100% |
As an example, if you were hired in August of 2018, you will be 100% vested in August of 2024. There are certain situations where this may not be the case, like if you are a rehire.
For additional information please refer to the Resources section on the right and select Fidelity 401(k) Savings Plan SPD.
A beneficiary is the person who will receive the cash benefit of your 401(k) account in the event of your death. You may designate or update your beneficiary anytime during the year at NetBenefits.
Did you know that 47% of active 401(k) participants at ZOLL do not have a Beneficiary? Check yours today!
- To review or update your beneficiaries, log into netbenefits.com, click on the Profile link, then select Beneficiaries. Follow the online instructions and don’t forget to SAVE your elections.
Visit Choosing Beneficiaries or click to learn more about beneficiaries and get your questions answered.
If you have a 401(k) plan through a former employer, there are a few options to consider when deciding what you’d like to do with your money.
One of the options to consider is a rollover. By initiating the rollover process, you’re able to move your money from your former employer’s plan into the ZOLL Medical Corporation Employee Savings Plan:
- The first step is to contact your former employer to request a withdrawal for a rollover.
- You’ll need to complete the required paperwork and decide if you’d like a:
- direct rollover: where your former workplace savings assets go to your ZOLL 401(k) account; or a
- 60-day rollover: where your former workplace savings assets get paid directly to you. It’s important to note that there are tax implications involved with this option, so it’s best to thoroughly review your options before deciding.
- Once you receive the check, you can easily deposit it to your ZOLL 401(k) Plan by using the NetBenefits® Mobile App CheckScan feature
- Follow these step-by-step instructions on how to use the app to deposit your rollover check.
- You can also choose to have the funds sent to Fidelity directly by wire or by mail.
If you have questions or need more information about the rollover process, you can speak to a Rollover Specialist at Fidelity Investments by calling 1-800-343-3548. Or you can log into your NetBenefits account either through the web browser or the mobile app and search for ‘rollovers’.
| WHAT DO YOU NEED? | CAPTRUST | FIDELITY |
|---|---|---|
| Check my 401(k) account balances | No | Yes |
| Update my contributions | No | Yes |
| Change my investment elections | No | Yes |
| Update my Beneficiary | No | Yes |
| Administration of the HSA and FSA accounts | No | Yes |
| Free advice on how to invest your retirement accounts | Yes | No |
| Financial Wellness Tools | Yes | Yes |
| On-demand Webinars | No | Yes |
CAPTRUST
Who are they?
- CAPTRUST is an independent investment advisory firm that provides investment advice to ZOLL employees who need help navigating their retirement benefits.
Is this investment advice part of my benefits package?
- Yes, CAPTRUST provides you with access to professional, unbiased investment advice.
- CAPTRUST will not sell you any products – their services are made available to you as part of the ZOLL Medical Corporation 401(k) Plan.
CAPTRUST services include:
- Annual participant communications on a quarterly cadence beginning with their CIO’s market comments, newsletters, and topical spotlight videos.
- Group Webinars: Features and benefits of the ZOLL 401(k), basics of investing, and more
- Access currently scheduled CAPTRUST webinars by navigating to zollbenefits.com/events/.
- Retirement Advice Line:
- Licensed counselors to assist you with your investing questions or help with your retirement plan and other financial issues.
- The counselors are available to offer you free investment advice and then help you act on the advice.
Visit captrustadvice.com to schedule an appointment
Call CAPTRUST directly at 800.967.9948
CAPTRUST Financial Wellness Tools:
Scheduling available at captrustadvice.com
- Comprehensive Retirement Advice and Solutions
- Retirement Blueprint
- Work one-on-one with a CAPTRUST Advisor to create your blueprint
- Measures your progress toward your retirement savings
- Establishes risk tolerance profiles
- Offers holistic advice on how to invest your retirement accounts
- Questions answered include:
- How much should I be saving?
- What is the recommended investment strategy for me?
- Am I on track to retire, and will I have enough money to last me for 20 to 30 years?
- Additional calculators available at captrustadvice.com/tools/
- Savings Plan Calculator
- Social Security Calculator
- Total Retirement Calculator
- College Savings Calculator
- And MORE!
Fidelity Investments
Who are they?
- Fidelity administers your 401(k) plan, Health Savings Account (HSA) and Flexible Spending Account (FSA). They also offer free Financial Wellness tools and resources via the web or mobile app.
Fidelity services include:
- Updating contributions and investment choices.
- Designate your beneficiary(ies).
- Check your 401(k) and/or HSA account balances.
- On-demand webinars, articles and interactive tools are available in their interactive Learning Catalog.
- Topics include Saving & Investing; Budgeting & Debt Management; Personal Finance; Retirement Planning plus many more educational topics. Log on to netbenefits.fidelity.com/livewebmeetings.
- Access currently scheduled Fidelity webinars by navigating to zollbenefits.com/events/.
- Viewpoints Newsletter – Learn ways to help grow and protect your money with Fidelity’s latest insights on markets, investing, taxes, and personal finance.
- Weekly Fidelity insights on Financial Markets, investing opportunities, Tax strategies, and other can’t miss information.
- Access Viewpoints here.
- Weekly Fidelity insights on Financial Markets, investing opportunities, Tax strategies, and other can’t miss information.
Fidelity Financial Wellness Tool:
- Financial Wellness Checkup on Fidelity:
- Fidelity’s financial wellness checkup can help you understand what’s going well and what else you can do to work toward your money goals. Take a few minutes to answer some questions (think: saving and spending, debt management, and more). From there, you’ll get a look into how you’re doing and find tips that can help you move forward.
NEED MORE INFORMATION ON THIS BENEFIT?
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