401(k)
The CrowdStreet, Inc. 401(k) plan is administered by Fidelity Investments!
Eligibility: All eligible employees over age 21 are able to enroll in our 401(k) plan. Eligible employees can enter the plan and begin contributing on the 1st of the month following date of hire.
Automatic Enrollment: New hires will be automatically enrolled into the 401(k) plan at a 3% contribution rate. You have 30 days from the date you receive your automatic enrollment notice to opt-out of the automatic enrollment program. To opt-out, you can change your contribution rate to 0% via the Fidelity NetBenefits web portal, mobile app, or by calling Fidelity directly.
Employee Contributions: Employees can contribute up to the IRS maximum allowable 402(g) limit. Our plan allows pre-tax (traditional), Roth, and catch-up contributions for employees over age 50. The 2024 contribution limits are listed below:
- Under age 50: Up to $23,000.
- Over age 50: additional $7,500 catch-up.
*The total amount of combined Roth and pre-tax contributions cannot exceed the annual limit. Unlike Roth IRA rules, our 401(k) plan allows any employee to contribute via Roth, regardless of your annual income.
If you have made contributions to another 401(k) plan this year, please communicate directly with HR. Contributions made prior to date of hire at Crowdstreet are your responsibility to consider as you defer into the CrowdStreet 401(k) plan. Any contributions that exceed the annual limit will be returned to you in the following calendar year.
Fidelity® Automatic Increase Program: Though your Fidelity NetBenefits account you can opt-in to the Automatic Increase Program (AIP). The AIP will automatically increase your contribution rate by a chosen percentage each year on the date specified by you to help ensure you’re adequately saving for retirement.
Employer Contributions: We match 50 cents of each dollar you contribute to your 401(k) plan up 6% of your 401(k) eligible earnings each pay period with a $2,000 annual maximum. The company match will be 100% vested after a participant completes 2 years of service. 50% of funds will be vested upon 1 year of service and the other 50% of funds will be vested after 2 years of service. Any employee who has been at the company longer that 2 year will vest immediately.
Loans: Our plan does allow participants to request a loan. You are limited to 50% of your account balance or $50,000, whichever is less. Loans are paid back with after-tax dollars with an additional interest charge that is paid back into your account.
Hardship Distributions: Our plan allows for Hardship Distributions in the event any participant experiences an IRS-defined hardship, e.g., unreimbursed medical expenses for you, your spouse, or your dependents; payment to purchase your principal residence; post-secondary tuition and education-related expenses for you, your spouse, or your dependents; payments to prevent eviction from your principal residence; funeral expenses for your parent, your spouse, or your dependent; payments to repair your principal residence that would qualify for a casualty loss deduction.
Please note, any withdrawal from the plan prior to age 59.5 will incur a 10% early withdrawal penalty.
Investment Options: Our plan offers a diverse array of investment options to support both hands-on and hands-off investors. Our plan offers the BlackRock LifePath® Index Target-Date series – a well-diversified, hands-off option for participants who are looking for an age-appropriate investment strategy. In addition to the Target-Date funds, our plan offers a suite of low-cost index funds and complimentary active funds. For investors looking for additional flexibility and choice, our plan offers the Fidelity BrokerageLink®. Through BrokerageLink®, you can access the retail world of investment choices. Please read the applicable disclosures and commission schedule prior to opening your BrokerageLink® account.
Ready to enroll? Visit NetBenefits.com (or 401k.com) – Call Fidelity at 800-835-5097 for questions – Be sure to download the NetBenefits App (available on iPhone and Android).