401(k)

NAF is proud to offer 401(k) Auto Enrollment, which means you automatically save for
retirement with each paycheck, unless you opt out with written notification.

Employer matching schedule is 1% to your 1%, 2% to your 2%, 2.5% to your 3% and 3% to your 4%.

Contributing 4% of your salary to your 401 (k) essentially gets you a 3% raise – that you get to spend in your retirement.

As of August 2018, the default 401 (k) fund has changed from the Fidelity Balance K Fund to the T. Rowe Price Target Date Funds for all new hires/rehires. Employees are placed in the appropriate Target Date Fund based on their age at enrollment. Current employees that did not make an affirmative election upon hire and were placed in the Fidelity Balance K Fund also had their bi-weekly payroll contributions automatically switched to an age-appropriate Target Date Fund, without affecting investment balances in the Fidelity Balance K Fund. 

Employees may change their investment elections by visiting www.401k.com or by calling
Fidelity at 1-800-835-5093.

Here are some other features of your 401 (k) plan with Fidelity Investments^*:

• 2020 IRS maximum deferral is $18,500, and the age 50 and over catch up contribution is $6,500
• Tax Deferred Savings
• Nine Investment Funds and eleven Life Cycle Funds to choose from
• 24-hour automated benefits line and internet access to your personal 401(k) account
• Quarterly Statements
• Hardship Withdrawals
• Rollovers to and from qualified plans 
• Vesting after 3 years of service
• Retirement Consultation 
• 401 (k) Loan Program, which allows employees one outstanding loan at a time, with a six-month wait between loans and a 12-month wait after a default status

Find out more information and access your account at Fidelity Netbenefits. Learn about how your contributions add up with the Fidelity contribution calculator. 

Here are some of the important documents that affect the NAF 401 (k) program:

• 401(k) Booklet
• 401(k) Plan Documents
• First Amendment to 401(k) Plan
• Second Amendment to 401(k) Plan
• Third Amendment to the 401(k) Plan

^*No official U.S. Army or Department of Defense endorsement implied by use of external links.

Still have questions? Email a NAF Benefits representative.