Income Savings Plan – 401(k)
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. Read the Income Savings Plan SPD for more information.
This notice describes the Safe Harbor Matching Contribution and how participants become eligible to receive this contribution.
Enrolling
You can participate in the 401(k) beginning the first of the month after 60 days of employment. You must enroll to participate. All enrolled participants can get personalized planning and advice from Fidelity.
Investment Options
Log in to 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 you should contribute to the 401(k) plan: Meet Jennifer.
| Example | CONTRIBUTIONS |
| Jennifer 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 |
Provider
Learn more about how the Hertz 401(k) Income Savings Plan can help you prepare for retirement with these on demand Fidelity webinars. See available webinars.
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.