Overview
MarketAxess helps you prepare for retirement with the easy-to-use, tax-advantaged 401(k) Savings Plan. This plan is administered by Fidelity.
Key advantages
Company contributions
MarketAxess contributes to your account to help your savings grow faster.
Current tax savings
You’ll pay less in income taxes when you make pre-tax contributions from your paycheck.
Tax-deferred investment growth
Pre-tax contributions let your money grow without being taxed until you withdraw it.
Wide range of investment options
You choose how you want to invest your money on a pre-tax basis, Roth after-tax basis, or both.
Eligibility and enrollment
You are eligible to participate on the first of the month following your date of hire. Enrolling is easy!
Step 1: Choose your payroll contribution amount.
- Log in to OKTA to access UKG (formerly known as UltiPro).
- Select Myself > Life Events > Change my 401(k) contribution. Election amount must be a whole percentage.
Step 2: Choose your investments and name a beneficiary.
- Go to Fidelity’s website at 401k.com and click the “Log in or register” button.
- Click “Register as a new user” and follow the prompts to provide your personal information and create your unique username and password. Then, log in to see all the features and information on your personalized NetBenefits homepage, learn about your investment options, and more.
- To name a beneficiary, click the “Profile” link, select “Beneficiaries,” and follow the prompts.
Step 3. Make changes at any time.
- To change your investment elections, log in to Fidelity’s website or call Fidelity at 800-835-5097.
- To change your contribution rate, log in to UKG and select Myself > Life Events > Change My 401(k).
See the app in action
Manage your 401(k) account from anywhere at any time! Watch this quick video to see what you can do with the Fidelity NetBenefits app, including making investment changes, using planning tools, setting financial goals, and much more.
Your Contributions
You may contribute between 1% and 90% of your eligible pay to your plan account, up to annual IRS limits.
Contribution limits
The current IRS annual contribution limits are:
- $23,000 if you’re under age 50
- $30,500 if you are age 50 or older this year (which includes an additional $7,500 in catch-up contributions)
These limits include your pre-tax contributions, Roth after-tax contributions, or a combination of both.
Pre-tax vs. Roth after-tax: What’s the difference?
The 401(k) Savings Plan gives you the flexibility to save for retirement with pre-tax contributions, Roth after-tax contributions, or both.
- With pre-tax contributions – the money goes into your account before taxes are deducted, so you keep more of your take-home pay.
- With Roth after-tax contributions – the money goes into your account after taxes are withheld, but 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 be at least 59½ (or the withdrawal follows death or total disability), and at least five years must have elapsed since your first Roth contribution.
Catch up!
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.
Boost your retirement income with HSA savings
If you’re enrolled in the HDHP, you can invest the money in your Health Savings Account (HSA) to build long-term savings for retirement! An HSA is a tax-free way to save money and maximize how much of your 401(k) or other retirement accounts can be used to support your lifestyle other than medical costs.
Company Contributions
MarketAxess helps you reach your retirement goals faster by making matching contributions to your account. Effective January 1, 2024, MarketAxess matches 100% of your pre-tax and Roth after-tax contributions to the plan, up to a maximum of $17,500 per calendar year.
Here’s how the company match works:
Don’t say no to free money!
Contribute as much as you can to take full advantage of the match! Otherwise, you’re leaving free money on the table. To increase your contribution rate, log in to OKTA to access UKG and select Myself > Life Events > Change My 401(k). Contribution rate elections made on Fidelity’s website will NOT update your payroll contributions.
Vesting
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 your money or all the investment gains/losses. You become vested in company contributions over time, based on the following schedule:
| Your years of service | Your vested percentage |
|---|---|
| Less than 1 | 0% |
| 1 year | 25% |
| 2 years | 50% |
| 3 years | 75% |
| 4 years | 100% |
Name a Beneficiary
It’s important to designate a beneficiary to receive the value of your 401(k) Savings 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. Log in to your Fidelity account to add or change your beneficiary.
Withdrawals and Loans
The money in your account is 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 the Fidelity website or call 800-835-5097.
Consider your decision
- 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 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 harder to get back on track.
- If you take a 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).
Tools & Resources
Take an active role in your retirement planning with these helpful tools and resources.
Before investing, carefully consider the funds’ or investment options’ objectives, risks, charges, and expenses. Call 800-835-5097 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.