Commvault is committed to supporting your financial well-being — today and tomorrow. The Commvault Systems, Inc. 401(k) Plan helps you prepare for retirement by offering an easy, tax-advantaged way to save for your future financial needs.
Key advantages:
- You are immediately eligible to begin contributing
- Commvault’s match begins immediately when you begin contributing (50% of the first 4% of base pay)
- Always 100% vested in Vaulter contributions ; 100% vested in Commvault match after 5 years (20% per year)
- Current tax savings
- Tax-deferred investment growth
- Wide range of investment choices
- Convenient payroll deductions
Manage your account
Visit 401k.com to enroll or manage your plan account:
- Enroll in the plan
- Check your balance
- Change your contribution rate
- Manage your investments
- Update your beneficiary
- Use planning tools and calculators
- Access forms and documents
When can I start contributing?
You are immediately eligible upon your date of hire to begin contributing to the 401(k) Plan. You can contribute 1% to 60% pre-tax to the plan.
You have the flexibility to change your contribution rate and investment elections at any time.
To get started, go to 401k.com or call Fidelity at 1-800-835-5095.
You can make pre-tax and/or Roth post-tax contributions in any amount between 1% and 60% of your eligible pay to your account, up to annual IRS limits.
- $23,000 if you are under age 50
- $30,500 if you’ll be age 50 or older this year (which includes an additional $7,500 in catch-up contributions, made as a separate election).
These limits include your pre-tax contributions, Roth post-tax contributions, or a combination of both.
You also have the option of contributing to the plan up to 20% with after-tax money, allowing you to contribute additional funds above the annual IRS limit to save even more in your 401(k) account.
Pre-tax vs. Roth post-tax versus After-tax: What's the difference?
The Commvault Systems, Inc. 401(k) Plan gives you the flexibility to save for retirement in a variety of ways. You can make pre-tax contributions, Roth post-tax contributions, or a combination of the two.
Pre-tax contributions
The money goes into your account before taxes are deducted, so you keep more of your take-home pay.
Then, you’ll owe taxes on both your contributions and any investment earnings when you withdraw your money in retirement (when you may be in a lower income tax bracket).
Roth post-tax contributions
The money goes into your account after taxes are withheld. Then, both your contributions and any associated earnings can be withdrawn tax-free in retirement.*
*In order for Roth earnings to be withdrawn tax-free, you must meet these two requirements:
- At least five years have elapsed since your first Roth contribution.
- You are at least 59½ or the withdrawal follows death or total disability.
After-Tax Contributions
The money goes into your account after taxes are withheld. Then, your contributions can be withdrawn without penalties and tax-free. Any earnings associated with those contributions are taxable upon withdrawal and must be withdrawn along with the after-tax contributions.
Catch up!
It’s not too late to make up for lost time. If you’ll be 50 or older this year, take advantage of the opportunity to contribute up to an additional $7,500 in catch up contributions. Visit 401k.com to participate in the Catch up contributions.
Roth In-Plan Conversion
You can convert your pre-tax funds to Roth after-tax funds. However, you must pay income taxes on the funds you convert. Please consult with your tax advisor to determine if Roth in-plan conversion is the right option for you.
Before-tax vs. Roth after-tax
The Commvault Systems, Inc. 401(k) Plan gives you the flexibility to save for retirement in a variety of ways. You can make pre-tax contributions, Roth post-tax contributions, or a combination of the two.
| Before-Tax Contributions | Roth After-Tax Contributions |
|---|---|
|
|
To help you reach your retirement planning goals, Commvault makes the following contributions to your account:
Commvault’s Matching Contributions
To support your retirement saving efforts, Commvault matches 50% of the first 4% of base pay.
Here’s how the company match works:
Meet the match!
Try to contribute at least 4% to take full advantage of the match — otherwise, you’re saying “No, thanks” to free money.
Vesting is another way of saying “how much of the money is yours to keep if you leave the company.” You are always 100% vested in your own contributions, including any investment gains and losses on the money.
You will vest in Commvault’s contributions over a five year period based on your years of service. At the end of five years you will be 100% vested. The schedule below shows how you will vest over the years.
| Years of service | Vested percentage |
|---|---|
| Less than 1 | 0% |
| 1 but less than 2 | 20% |
| 2 but less than 3 | 40% |
| 3 but less than 4 | 60% |
| 4 but less than 5 | 80% |
| 5 or more | 100% |
Have you named a beneficiary?
It’s important to designate a beneficiary to receive the value of your Commvault Systems, Inc. 401(k) Plan account in the event you die before beginning to receive your benefit. As personal circumstances change, be sure to keep that information up to date. Visit 401k.com to add or change a beneficiary.
The money in your account is intended as a long-term investment to help you prepare for your financial needs in retirement. However, under certain circumstances, you may be able to access money from your account before reaching retirement age. For more information, visit 401k.com or call
Think Before You Act
If you’re considering taking a withdrawal or loan from your plan account, be sure to think about the impact it may have on your financial future.
- Taking money from your account now may lead to a smaller savings balance when you retire.
- Not only are you taking money away from your retirement savings, but the burden of repaying the loan may make it even harder to get back on track.
- If you take a plan loan, you’ll also lose more money to taxes because the interest payments on your loan are made with money that has already been taxed, and it will be taxed again when withdrawn from your account.
- If you withdraw pre-tax money from your plan account, in addition to paying current taxes on the money, you may have to pay an additional 10% penalty tax if you are younger than age 59½ or, age 55 if you have retired or left the company.
Make the most of your retirement planning by taking advantage of the tools and resources available at 401k.com. On the Fidelity website you have access tools and educational resources to help you make informed investment decisions.
Before investing, carefully consider the funds’ or investment options’ objectives, risks, charges, and expenses. Call 1-800-835-5095 for a prospectus and, if available, a summary prospectus, or an offering circular containing this and other information. Please read them carefully.
Investing involves risk, including the risk of loss.