Planning for Retirement
401(k) Retirement Plan
We’ve partnered with Fidelity to administer our 401(k) retirement plan, giving you access to a trusted industry leader with robust investment options, powerful planning tools, and expert resources to help you build your financial future.
The Basics of Your 401(k) Retirement Plan
When you join Specialized, you can choose to contribute the default 6% of your pre-tax earnings to the 401(k), select a different percentage, or opt out of the program.
You’ll have the flexibility to make contributions on a pre-tax, ROTH (after-tax), or post-tax basis.
All 401(k) plan administrative fees are paid for by Specialized.
The Employer Match
We provide an employer match of up to $5,000 each year!*
*If you make less than $100,000 (base), we will match 100% of your pre-tax and ROTH contributions to an annual maximum of $5,000.
*If you make more than $100,000 (base), we will match 50% of your pre-tax and ROTH contributions to an annual maximum of $5,000.
Specialized Profit Sharing Plan
The Profit Sharing program offers teammates the potential for additional retirement savings beyond the standard 401(k) match. When business performance allows, Specialized makes discretionary contributions directly to eligible 401(k) accounts. Because these contributions are tied to company results, amounts fluctuate annually and are not guaranteed.
FAQs
-
If you enroll actively: Your coverage begins the first of the month following your enrollment, at the contribution rate you select.
If you don't take action: You'll be automatically enrolled at 6% (pre-tax) after a 35-day waiting period, with coverage starting the first of the following month. Your contribution will automatically increase by 1% annually until it reaches 10%.
-
Changes to deferral elections can be made anytime through Fidelity.
Note that it will take 1-2 pay periods before you see changes reflected in your paycheck.
-
For our 401(k) plan, the employer match is setup as immediate vesting, which means you are entitled to the funds as soon as they are posted to your account.
-
You can follow instructions from the Fidelity NetBenefits app or website.
-
Yes, Fidelity has a separate deferral election for bonus payments.
Bonus deferral elections are automatically set to zero if no “bonus deferral” election is made.
-
No. Specialized pays plan administrative fees for current teammates.
-
Yes! All Specialized teammates in the U.S. have an account within our 401(k) plan at Fidelity even if you do not participate.
-
Your profit sharing allocation is based on your salary as a percentage of the total of all eligible teammates’ salaries.
-
No. The Profit Sharing benefit is a component of the 401(k) plan, not a cash bonus. Further, there is a vesting schedule that applies to Profit Sharing dollars, which is managed through the 401(k) plan.
-
Yes. You are 100% vested at six years.
-
You can manage your 401(k) directly through Fidelity's site or app.
If you prefer to get help over the phone or need site assistance, contact Fidelity Participant Services at: 800-835-5097.
Take advantage of free retirement planning advice through our partnered consultants.
Contact ABD at: 401khelp@theabdteam.com.
Let them know you are a Specialized teammate and would like to schedule a time to discuss your retirement account.