401(k) Plan

Overview

The Nutanix 401(k) Plan helps you save for your retirement by offering you the option to contribute your own money to a traditional pre-tax or Roth 401(k). Whether you strive for a retirement filled with world travel, home renovations, or time spent with family, your future can be even brighter with savings in your 401(k) plan. You can take advantage of several investment options and access financial planning services.

Getting Started | Your Contributions | Roth In-Plan Conversion | Investment Options | Loans and Withdrawals | Resources | Other Financial Wellbeing Resources
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Highlights

 

Automatic enrollment.

You’re automatically enrolled in the plan within the first 45 days after your hire date. You can change your elections or opt out at any time.

Tax-deferred savings growth.

When you are enrolled, your contributions are conveniently taken through payroll deductions. Your money has the potential to grow faster, and you’ll pay less in income taxes when you make pre-tax contributions.

More options to save.

You can also make after-tax Roth contributions through payroll deductions, which means your contributions and any associated earnings can be withdrawn tax-free in retirement.

Wide range of investment choices.

Choose how you want to invest your money.

Visit the Fidelity website to register for online access, view your balance, choose investments, and make changes to your contributions.

Getting Started

You can begin contributing to the Nutanix 401(k) Plan as soon as you are eligible.

1. Get started. After your first paycheck, visit the Fidelity website to make your contribution elections. Your contributions will take one to two pay periods to show up in your paycheck. If you don’t select a contribution rate within your first 45 days, you’ll be automatically enrolled at a 2% contribution rate.
2. Explore the plan. Find plan documents and details, review and update investment options, and access forms on the Fidelity website.
3. Add Beneficiaries. When you start contributing, be sure to designate a beneficiary. Your beneficiary will receive the value of your Nutanix 401(k) Plan account if you pass away before beginning to receive your benefit. As personal circumstances change, be sure to keep that information up to date. Visit the Fidelity website to add or change a beneficiary.

Note: You must elect a beneficiary for your retirement account separately from elections for other accounts or plans—your designation does not automatically apply across plans.

Resources

Your Contributions

You may contribute 1% to 100% of your eligible compensation to your plan account, up to annual IRS limits. In 2023, you may contribute up to:

• $22,500 if you’re under age 50 (through pre-tax, Roth after-tax, or a combination of both types of contributions).
• $30,000 if you’re age 50 or older this year (this includes an additional $7,500 in catch-up contributions).

Note: The annual maximum applies across employers. If you contributed to a 401(k) plan this year with a prior employer, notify payroll via email at payroll@nutanix.com with the exact dollar amount that you have already contributed. Be sure to include both pre-tax deferrals and Roth contributions.

Rollovers

If you have a balance in a former employer’s retirement plan, you may want to consider consolidating your accounts by moving your money into the Nutanix 401(k) Plan. For more information, go to the Fidelity website.

Traditional pre-tax vs. Roth contributions: What’s the difference?

The Nutanix 401(k) Plan gives you the flexibility to save for retirement in a variety of ways. You can make pre-tax contributions, Roth contributions, or a combination of the two.

Pre-tax contributions

• The money goes into your plan account before taxes are deducted from your pay, so you keep more of your take-home pay.
• Since you don’t pay taxes at the time you contribute, 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 contributions

The money goes into your account after taxes are withheld from your pay. 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’re at least age 59½ or the withdrawal follows death or total disability.

Roth In-plan Conversion

Through the Nutanix 401(k) Plan, you can make an in-plan Roth conversion. This allows you to move money you have saved in the Nutanix 401(k) Plan into your Roth account within the plan. A conversion like this allows you to build a potentially tax-free retirement balance by paying tax on the money you convert now and withdrawing your Roth account funds tax-free in the future.

To make an in-plan conversion, certain conditions must be met for you to take an available, rollover-eligible distribution from the Nutanix 401(k) Plan and directly roll it over into your Roth account. Assets that can be rolled over include your own pre-tax contributions or assets rolled in from a former employer.

You can elect an in-plan Roth conversion by enrolling in automatic conversion of any future after-tax contributions or make a one-time version of any existing after-tax or pre-tax balances.

Visit the Fidelity website to learn more about in-plan Roth conversion or call 800-835-5097 to discuss it with a Fidelity advisor.

Investment Options

You can choose to invest through a number of investment options through the plan, including the Fidelity BrokerageLink. Visit the Fidelity website for a complete list of investment options and to manage your investment portfolio.

There are different ways to invest your money:

• The DIY approach. Set up your contributions using the available 401(k) Plan investment options or set up a BrokerageLink account with Fidelity.
• Easy peasy. Consider the target date funds. Choose one that’s named for the year closest to when you expect to retire. The target funds are a mix of stocks, bonds, and other investments designed to optimize returns. The mix becomes more conservative as you get closer to your planned retirement year.
• The personal touch. Leverage the expertise of a Fidelity financial advisor. Connect through the Fidelity Investor Center, or call 800-835-5097 Monday–Friday, 5:30 AM to 5:00 PM PT.

Loans and Withdrawals

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 about loans and withdrawals, visit the Fidelity website or call 800-835-5097.

Other Financial Wellbeing Resources

Fidelity offers other tools to help you and your family with a variety of financial wellbeing topics. In order to find these point solutions, go to the Fidelity website, log in, and click on Plan & Learn then click on Plan for expected & unexpected events in life.

To learn more, call 800-835-5097 or visit the Fidelity website.