When it comes to financial planning for retirement, many employers offer their employees 401(k) plans. These plans are administered by a third party provider, such as Fidelity, and allow employees to save for retirement on a tax-deferred basis. Amazon is no exception; the company offers its employees a 401(k) plan that is managed by Fidelity Investments.
The Amazon 401(k) plan allows eligible employees to contribute up to 50% of their earnings, or up to $19,500 in 2020, on a pre-tax basis. Contributions are automatically invested in one of the preset investment options that range from conservative to aggressive. Employees have access to an array of mutual funds and ETFs offered by Fidelity, as well as a self-directed brokerage account option.
Amazon also offers an employer match of up to 4% of an employee’s salary in the form of Amazon stock. This matching contribution is vested immediately upon being made and can be used to purchase additional shares of Amazon stock within the 401(k) plan.
In addition to the traditional 401(k) plan, Amazon also offers its employees access to an after-tax Roth IRA through Fidelity. The Roth IRA allows employees to save for retirement on an after-tax basis and provides tax-free growth potential over time.
Conclusion:
Yes, Amazon does use Fidelity for its 401(k) plan. Employees enrolled in the plan have access to a variety of investment options offered by Fidelity and may also be eligible for an employer match in the form of Amazon stock. Additionally, Amazon offers its employees access to an after-tax Roth IRA through Fidelity.
10 Related Question Answers Found
The question of whether Fidelity is owned by Amazon has been a source of debate in recent years. Amazon has been an aggressive acquirer of companies, and its expansion into the financial services industry has raised speculation that it might be interested in Fidelity. While there is no direct evidence to suggest that Fidelity is owned by Amazon, there are some compelling reasons why the two companies may be linked.
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