No matter how wonderful your job is, it’s good to plan for retirement. A 401(k) plan helps you plan for your future by squirreling away a portion of each paycheck. These funds are deducted from your eligible pay each pay period and invested based on your investment elections.

Enrollment & Account Access

You are eligible to enroll in the plan after 45 days of employment with Light & Wonder. New Creators and SciPlayers will be automatically enrolled with a contribution rate of 3% unless you elect a different contribution rate or opt out of the program. You will also be automatically enrolled into the Annual Increase Program, which automatically increases your contribution percentage by 1% (to a maximum of 10%) each year.

To enroll in the 401(k) plan or change your automatic enrollment, please visit Fidelity at www.netbenefits.com within 45 days of starting with Light & Wonder. You may check your 401(k) account balance, view your contributions, change your investments and more by visiting the provided website.

Additional Information

Contribution Limits: You may contribute from 1% to 60% of your eligible pay in either pre-tax, Roth or a combination of both, up to the IRS maximum contribution of $24,500. If you are eligible to make catch-up contributions (Creators and SciPlayers age 50 or over), you may contribute up to 100% of your eligible pay up to $32,500. If you are age 60, 61, 62, or 63, you can save up to $35,750.

Pre-tax Contributions: Pre-tax contributions are deducted from your pay before taxes are withheld. You pay no taxes on the contributions or earnings until you withdraw them.

Roth Contributions: You may make after-tax Roth contributions. Roth contributions allow you to take any associated earnings completely tax free at retirement as long as the distribution is a qualified one.

Employer Contributions: Light & Wonder helps you in growing your retirement savings by providing a company match – 100% of the first 1% you contribute, and 50% of the next 5% of your eligible compensation contributed to the plan. Put simply, if you contribute 6% or more of your earnings, you will receive a match of 3.5% from Light & Wonder.

Note that Light & Wonder matches your contributions on a per-pay-period basis. Therefore, during pay periods in which you do not contribute, you will not receive company matching contributions. The plan provides for a true-up after the end of the plan year.

Contribution Changes: You can request to change your contribution amount at any time by logging on to Fidelity NetBenefits at netbenefits.com or by calling Fidelity Retirement at (800) 835-5097.

Vesting: You are always 100% vested in your own contributions to the plan, as well as any earnings on them. Your Company-Match contributions and earnings are 100% vested after 2 years of continuous service.

Investment Options: You have the flexibility to select from investment options that range from more conservative to more aggressive, making it easy for you to develop a well-diversified investment portfolio.