Results for Retirement Savings Plan

Your 401(k) Contributions

You have three ways to save your Base Compensation: pre-tax, Roth 401(k) after-tax and regular after-tax. Pre-tax contributions reduce your taxable income. Roth 401(k) after-tax and regular after-tax contributions are deducted after taxes have been taken. Base Compensation includes your base pay, commissions, lump-sum merit awards, vacation pay, holiday pay, short-term disability pay and any pre-tax contributions you may make to this Plan. For a full list of eligible base pay, please refer to the Contributions and Accounts section of the Summary Plan Description.

When You Can Contribute

As of your hire date, you’re immediately eligible to make pre-tax, Roth 401(k) after-tax, regular after-tax, or catch-up (if age 50) contributions. About a week or so after your start date, your information will be set up in the Fidelity system.

Auto-Enrollment

If you don’t make any elections, you’ll automatically be enrolled at a 3% pre-tax contribution rate after you’ve worked at Rockwell Automation for 30 days. Your contributions will be invested in a default target fund, based on your birth date and target retirement date.

You’ll receive more information and an auto-enrollment notification letter from Fidelity approximately two weeks after your hire date. If you’d like to opt out of automatic contributions, you must change your contribution rate to 0% by the date noted on the notification letter. Contributions made to the Retirement Savings Plan cannot be refunded to you.

What Gets Taxed?

The type of contributions that you make to your Retirement Savings Plan (401(k) Plan) account determines what gets taxed when you receive the money. Refer to the Retirement Savings Plan SPD for more details about the tax treatment of your account. Login at www.401k.com to download the SPD or call Fidelity at 1.877.ROK.401K (1.877.765.4015).

Types of Taxable Retirement Savings Plan Contributions

  • Any type of pre-tax contribution (including pre-tax catch-up and rollover contributions) and investment earnings on those contributions
  • Investment earnings on any type of after-tax contribution
  • Investment earnings on any type of Roth after-tax contribution if the money has been in your account for less than five years and/or you receive the money before age 59½
  • Company matching contributions, other company contributions and investment earnings on all company contributions

Types of Non-Taxable Retirement Savings Plan Contributions

  • Any type of after-tax contribution (including rollover contributions)
  • Any type of Roth after-tax contribution (including Roth after-tax catch-up and rollover contributions)
  • Investment earnings on any type of Roth after-tax contribution as long as the money has been in your account for at least five years and you receive it after age 59½

Don't Miss Out on Company Contributions!

If you’re not contributing the full 7% of your pay to your 401(k), you’re missing out on contributions from Rockwell Automation! Check out the Company contributions.

Change Your Contribution Amount

You can change your contribution amount or stop contributing altogether anytime throughout the year. If you leave Rockwell Automation, you can take your benefit with you or roll it over to an IRA, 401(k) or other qualified plan.

Your contributions to other plans, like a 401(k), 403(b) or 457(b), can be rolled into the Retirement Savings Plan. Contact Fidelity for details.

Automatic Payroll Deductions

Automatic payroll deductions help you save before you spend. You can save anywhere from 1– 50% of your base pay up to IRS limits. You can also make catch-up contributions, up to certain IRS limits, beginning in the calendar year you turn age 50.

IRS Limits

The IRS puts limits on how much can be saved to employer-sponsored 401(k) plans.

The 2024 limits are as follows:

  • Your pre-tax and Roth 401(k) contributions: $23,000
  • Catch-up contributions (if age 50 or older in 2024): $7,500
  • Total annual contributions (from Rockwell and you): $69,000 (or $76,500 if 50 or older)
  • Maximum eligible compensation (maximum amount of compensation eligible for contributions to the plan): $345,000.

 

Understanding IRS Limits

Spillover allows you to continue to automatically save on an after-tax basis once you reach the pre-tax/Roth 401(k) limit. If you have a pre-tax and/or Roth 401(k) contribution election in place and reach the annual limit ($23,000 in 2024), your deferrals will automatically switch to after-tax deferrals at the same deduction rate you elected, unless you elect to opt out of this. Please contact Fidelity for more information.

It’s important to understand these limits and how they may affect any future contributions to your Retirement Savings Plan account. Different rules also apply for highly- compensated employees. For more information on how IRS limits may affect you, please consult the Retirement Savings Plan Summary Plan Descriptions or call Fidelity.

 

Retirement Summary Plan Descriptions

The following Summary Plan Descriptions have details about what happens to your coverage when your employment with Rockwell Automation ends and are available on Your BenefitsTM or by calling the RASC:

  • Rockwell Automation Pension Plan
  • Rockwell Automation Savings Plan (the 401(k) Plan)
  • Delta Dental
  • Flexible Spending Accounts
  • Life and AD&D Insurance
  • STD and LTD