Retirement Benefits (401k)
Our 401(k) plan offers convenient automatic enrollment which means you will be automatically enrolled in the plan on the first of the month following your first 30 days. You will be enrolled at a contribution rate of 3% of your salary and your contributions will be invested in the following: 3% in Target Date Funds based on your current age and a retirement age of 65. All team members will have the opportunity to Opt-Out of automatic enrollment when they receive a new hire kit from Wells Fargo.
AAA Carolinas offers a company match equal to 50¢ on every dollar the team member contributes equivalent to the first 6% of their annual salary.
Accessing Your Retirement Account
After your eligibility date (the first of the month following your first 30 days) you can begin accessing your Retirement Account. When you access your account for the first time, you will need some basic information see below:
Wells Fargo Retirement Plan Website: www.wellsfargo.com
If you have any kind of bank account with Wells Fargo already, follow these instructions:
If you have any Wells Fargo banking accounts; then you are an existing customer and if you have already registered on the main wellsfargo.com site, you can simply access by using your bank account USERNAME and PASSWORD. Upon successful log-in, your 401(k) will be linked at the bottom of the main page. From there, you can click on the retirement plan name to access your 401(k). If you have any problems; call this number for assistance with access and linking all the accounts together: 1-800-956-4442.
If you have no bank accounts with Wells Fargo follow these instructions:
If you have NO Wells Fargo retail/bank accounts or have never registered; then select Investing & Retirement Employer 401(k) Sign-in and enter the required information, and select the I have No Account Number or ATM Number box. If you have problems call for assistance at: 1-800-728-3123.
When a team member takes a distribution from their 401(k), the company contributions are subject to the following vesting schedule:
|Years of Service||Total Vesting|
Team Members have access to 100% of company contributed dollars after the completion of five years of service.
Try the 5 ways in 5 days approach
Give yourself five days to focus on how you budget, spend, save, plan and talk about your finances and your future. Or explore them all when time permits.
Visit http://www.5waysin5days.com/ to find out more.