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.