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  • 401(k) Savings Plan

    The EMC 401(k) Savings Plan, administered by Fidelity Investments, is a great way for you to set aside money for the future thanks to pre- and/or post-tax contributions, a company match, multiple investment options, and more. Read highlights of your 401(k) plan below, or for more details, refer to the Summary Plan Description (SPD).

    Eligibility and Enrollment

    Participation is open to all U.S. employees except employees covered by a collective bargaining agreement; nonresident aliens who receive no U.S. source income; student interns, co-op students, or similar student employees; leased employees; and independent contractors. Enroll as a new hire or at any other time. To enroll:

    • Go to NetBenefits
    • Call the Fidelity Retirement Benefits Line at 800-421-3844

    Automatic Enrollment and Annual Increase Program Features

    Automatic Enrollment
    EMC will automatically enroll you in the 401(k) Plan on a pre-tax basis, unless you actively withdraw from participation within 30 days of your date of hire. If you are a re-hire you must re-enroll in the Plan.

    • Your pre-tax contribution rate will be 8% of your eligible compensation
    • The plan will invest your contributions in the Pyramis Index Lifecycle Fund specific to your age

    You can change your contribution rate and/or fund elections, or opt out of participation, at any time.

    Automatic Enrollment in the Annual Increase Program
    EMC will automatically enroll you in the EMC 401(k) Annual Increase Program, This program will increase your deferral election by 1% every year on the anniversary of your date of hire, to a maximum of 10%. For example, if you take no action, you will be enrolled in the 401(k) Plan at 8%. On the 1st anniversary of your date of hire, that deferral rate will increase by 1%, making your deferral 9%, and will continue until you reach 10%.

    You may opt out of the Annual Increase Program at any time by logging into NetBenefits and de-selecting your participation in the Annual Increase Program.

    How the Plan Works


    Contribute 1-50% of your eligible compensation on a pre- and/or post-tax basis up to the 2016 IRS limit of $18,000. If you are 50 years of age or older, you can contribute up to an additional $6,000 in “catch-up contributions” in 2016.

    EMC’s 401(k) Annual Increase Program allows you to opt into a program that automatically increases your payroll deduction election each year. You choose the increase percentage and the effective date.

    After-Tax Contributions

    In addition to the $18,000 you can save in the form of pre-tax/Roth 401(k) contributions, you also have the opportunity to save an additional $30,000 per year in the form of after-tax contributions. 

    Once you reach the $18,000 (or $24,000 if catch-up eligible) IRS limit in pre-tax/Roth 401(k) contributions, your contributions will automatically flow into after-tax contributions. 

    Roth In-Plan Conversion: You have the opportunity to convert your after-tax contributions to Roth 401(k) contributions through Roth In-Plan Conversion. To convert your after-tax balances into Roth 401(k) balances, call Fidelity (1-800-421-3844). 

    Note to New Hires: If you participated in your prior employer's 401(k) plan, please ensure you complete the 401(k) Contributions to Prior Employer Plan Form. If you plan to roll-over funds from a previous employer's 401(k) Plan into the EMC 401(k) Plan, you must complete the 401(k) Savings Plan Rollover Contribution form.  

    Streamlined Deferrals: You will elect a pre-tax deferral percentage and/or a Roth 401(k) deferral percentage for your contributions. Catch-Up eligible employees no longer need to make a separate Catch-Up election. 

    If you reach the IRS limit on pre-tax and/or Roth 401(k) regular contributions, your contributions will automatically flow to Catch-up contributions if you are eligible for Catch-up. If you are not Catch-up eligible, or reach the IRS limit on Catch-up contributions, your contributions automatically flow to after-tax contributions.

    After-Tax Opt-Out 

    You can opt out of After-tax contributions. If you make this election, once you’ve reached the IRS contribution limits for pre-tax and/or Roth, your deferrals will be discontinued automatically. To take advantage of this new feature, visit Fidelity NetBenefits.

    Company Matching Contributions

    EMC will match your contributions dollar-for-dollar up to 6% of your eligible bi-weekly compensation each pay period. You will receive up to $3,000 in matching contributions on a payroll basis with a maximum company matching contribution of $750 per quarter ($3,000 per year). For employees who have received the full $3,000.00 payroll matching,  EMC will make a supplemental match contribution up to an additional $3,000 following the end of the calendar year.  You must be employed on the last day of the year to receive a supplemental match. Your match is subject to a three-year vesting schedule. Learn more.


    You can choose from a wide variety of investment options, including premixed “Lifecycle” funds tied to the number of years you have until retirement age. You can change your investment allocation at any time.


    You can apply for a loan of up to half your vested account balance, with a $50,000 maximum, and pay yourself back with interest. Learn more.


    In-service withdrawals are available from your rollover account if you are at least age 59-½, or if you are permanently disabled. Learn more about withdrawals.

     Hardship withdrawals are available for a number of reasons including the purchase of your primary residence, unreimbursed medical expenses, current post-secondary education expenses, and more. Be sure you understand the tax consequences before taking a withdrawal. 

     Hardship Withdrawal Process Change:

    All hardship withdrawals processed on or after October 1, 2015 will result in an automatic 6 month suspension of your ability to make contributions to the EMC 401(k) plan. Your contributions will stop immediately after you take the hardship withdrawal and will automatically resume six months later at the contribution rate on record on that date. This suspension may reduce the amount of employer matching contributions you will be eligible to receive under the EMC 401(k) plan.

    We would also like to remind you that your deferrals under the Deferred Compensation Retirement Plan are also suspended for six months after you take a hardship distribution.

    If you have any questions or would like more information, please contact Fidelity toll-free at 1-800-421-3844, Monday through Friday, between 8:30 a.m. and midnight, to speak with a Fidelity Service Center Representative.

    Manage Your 401(k) Account

    To make allocation or contribution rate changes; initiate rollovers, loans or withdrawals; review fund performance history; request statements and prospectuses; and make other transactions:

    • Go to NetBenefits
      • Enter your Social security number (or other customer ID) and create a password
      • Going forward, either select “Single Sign-On” in the box at the right, or simply enter your customer ID and password to gain access to your 401(k) account and any personal accounts you have at Fidelity
    • Call the Fidelity Retirement Benefits Line at 800-421-3844

    1A distribution from a Roth 401(k) plan is tax free and penalty free, provided the five-year aging requirement has been satisfied and one of the following conditions is met: age 59 1/2, disability, or death.