401(k) Income Savings Plan
Save for Retirement with the Hertz 401(k) PlanPlan Information
Save for your retirement with the Hertz 401(k) plan. Hertz offers the Income Savings Plan (the “Savings Plan” or the “401(k)”) to help you save for retirement and plan for your future. For more detailed information about the 401(k), read the Income Savings Plan Summary Plan Description (SPD).
- You can participate in the 401(k) beginning the first day of the calendar month following 30 days of employment.
- All enrolled participants can get personalized planning and advice from Fidelity.
- The Safe Harbor Notice describes the Safe Harbor Matching Contribution and how participants become eligible to receive this contribution.
Enroll & Manage Your 401(k)
Visit Fidelity NetBenefits to register for an account, enroll in the 401(k), and learn more about your investment options.
Contribution Limits
The 2024 contribution limit is $23,000. If you’re age 50 or older by the end of the calendar year, you can contribute an additional $7,500.
Hertz Matching Contribution
Hertz will match your contributions dollar for dollar on the first 3% you contribute and 50 cents per dollar on the next 2% you contribute. This means your account is credited with a 4% matching contribution if you contribute 5% or more. As a safe harbor 401(k) plan, your employee and employer contributions are immediately 100% vested.
Why Contribute to the 401(k)?
For an example of the benefits of contributing to a 401(k) plan, refer to the example below.
| Example | Contributions |
|---|---|
| Jennifer (employee) contributes 5% to her 401(k) account | $5,000 |
| Hertz matches the first 3% dollar for dollar | $3,000 |
| Hertz matches 50 cents for every dollar of the next 2% | $1,000 |
| In total, Hertz matches 4% | $4,000 |
Thinking About Retirement? Medicare Solutions is a free resource for anyone nearing age 65 or older who needs help navigating Medicare and choosing a plan.
On-Demand 401(k) Webinars
To ensure each Hertz employee has access to information and tools to better prepare for retirement, we have partnered with Fidelity to host a series of educational, on-demand webinars. You can view the webinars online at a time and place that are right for you.
Watch these webinars to learn more about how you can best take advantage of the Hertz 401(k) Income Savings Plan and position yourself for a more secure retirement.
| Webinar Name | Link |
|---|---|
| Make the Most of Your Retirement Savings | |
| Turn Your Savings into Retirement Income | |
| Identify and Prioritize Your Savings Goals | |
| Preserving Your Savings for Future Generations |