Retirement
RETIREMENT
Blue Origin offers a 401(k) retirement savings plan, which is administered by Fidelity.
Regular employees who are age 18 or older and work at least 20 hours per week may start enrolling in the 401(k) plan on or after your first pay day.
If you are new to Blue Origin, you will receive a welcome email from Fidelity your second week. If you have an existing Fidelity account, you will use the same username and password. Once logged into your account, you can process rollovers of existing 401(k) funds into your new account with Blue Origin. Those who are new to Fidelity can register as a new user once they receive their welcome email.
RETIREMENT PLAN OPTIONS
Traditional pre-tax and Roth options are available. The difference lies in when you pay your taxes.
• TRADITIONAL401(k):Withatraditionalpre-tax401(k), you make contributions with pre-tax dollars. Your contributions and your earnings will grow tax-deferred until you withdraw it. At that time, your withdrawals will be taxed as ordinary income (you may pay a penalty if you withdraw before age 59 1/2).
• ROTH401(k):WithaRoth401(k),youmakeyour contributions with after-tax dollars, but you can withdraw your contributions and earnings tax-free after age 59 1/2 (as long as you've held the account for five years).
AFTER-TAX ACCOUNT
Blue Origin also offers an after-tax account, administered by Fidelity, that allows employees to save additional funds for retirement as after-tax contributions.
With an after-tax account, you make your contributions with after-tax dollars and you can withdraw your contributions tax-free. Earnings on the after-tax account will be taxed as ordinary income upon withdrawal.
• Contributeupto10%ofemployeecompensationafter-tax.
• Thereisnoemployermatch.
• Rothin-planconversionisavailable,allowingyourafter-tax funds to convert automatically to your plan's Roth account.
AUTO-ENROLL
To ensure all eligible employees are able to participate
as soon as administratively possible, you will be enrolled automatically as a participant in Blue Origin’s 401(k) plan. Your initial deferral rate will be set at 6%, traditional pre-tax following an opt-out period of 30 days from hire (during which you may elect to change your deferral rate from 0-90%).
To select your investments, change your contribution percentage and/or change the pre-tax default, visit the Fidelity website, 401k.com.
MATCH
Blue Origin offers a match of 100% on the first 1-5% of compensation you contribute each pay period. Whether you choose a traditional or Roth 401(k) (or both), your Blue Origin match will go in pre-tax. The vesting schedule is a 3-year cliff, which means Blue Origin’s match will be vested 100% after 3 years of service. The value of your contributions are always 100% yours.
To help prevent over-contribution if you are new to Blue Origin, you can email your contributions for the year to Human Resources and your Workday contribution cap will be lowered.
2023 ANNUAL MAXIMUM CONTRIBUTIONS
Annual 401(k) maximums include Traditional pre-tax and Roth 401(k) employee contributions.
Total annual 401(k) maximums also include employer match contributions, the After-Tax Account, and cannot exceed IRS limits.
Resources
ENROLLMENT INSTRUCTIONS
How To Enroll:
NEW HIRES
- Complete the Change Benefits for Life Event enrollment task in your Workday inbox.
- Click Let's Get Started to waive or elect each of the benefits offered to you.
- Elect your plans, add your family members, then click Review and Sign.
- Review your benefits elections.
- Upload any required documentation, read and accept, and click Submit.
- Download and save your Benefits Statement.
MID YEAR CHANGES
- Click the Benefits Application to submit your benefit changes
- Elect your plans, add your family members, then click Review and Sign.
- Review your benefits elections.
- Upload any required documentation, read and accept, and click Submit.
- Download and save your Benefits Statement.