401(k) Plan

SECURE 2.0’s new Roth catch-up contribution rule

Starting in 2026, employees turning age 50 or older earning more than $145,000 in FICA wages in the previous year must designate any catch-up contributions permitted under workplace savings plans as Roth contributions. 

Who is impacted? Participants with FICA wages over $145,000 in the prior year must make their catch-up contribution on a Roth basis; Rivian will make catch-up contributions as Roth on your behalf.

Who is not impacted? Participants with FICA wages $145,000 or less in the prior year can make their catch-up contributions as either pre-tax or Roth. New hires who have no income from Rivian for the preceding calendar year are not subject to the Roth requirement.

Where can I find my FICA wages? You’ll need to check your Form W-2 Box 3 wages from the prior year to see if you crossed the $145,000 threshold.

What action must I take? No action is required; if you meet the above criteria, Rivian will make applicable catch-up contributions as Roth on your behalf. It is a great time to talk to a financial or tax advisor about how Roth Catch-up can impact your retirement investing plan, and you can view or make changes to your contributions at any time by logging into www.myrivian401k.com. Please note that the $145,000 threshold will be indexed annually.

Highlights

• Enroll to participate from the day you join Rivian. Opt out or change your contributions at any time.
• Receive a 50% company match on up to 4% of your eligible income. For example, when you contribute 4% or more of your pay, Rivian will contribute a maximum of 2% in employer matching contributions. The employer match is immediately vested.
• Contribute a fixed dollar amount each pay period or a percentage of your eligible income, up to $23,500 if you are under 50 or $31,000 if age 50+ for 2025.
• Choose from a wide range of investment options.
• Designate a beneficiary for your 401(k) savings.

Learn more and enroll at myrivian401k.com.

Contribution options

Your payroll contributions will generally appear in your Empower account the Wednesday following the pay date—or Thursday, if there is a holiday during that period. You can make two types of contributions to your 401(k), allowing you to choose when to pay taxes on your contributions and earnings, depending on your individual financial needs.

Pretax contributions

Your contributions come out of your pay before taxes, so you have more take-home pay than you would if you saved the same amount on an after-tax basis. However, all pretax contributions and earnings are subject to income tax when you make a withdrawal in the future.

This may be a good option if you expect to be in a lower tax bracket after you retire, or if you want to pay lower taxes now by reducing your current taxable income.

Roth contributions

Your contributions come out of your pay on an after-tax basis. You’ll have a little less in your paycheck than you would if you contributed the same amount on a pretax basis. You won’t pay taxes on the value of your contributions or any investment earnings, as long as it has been five years since your first Roth contribution and you are at least age 59½ or disabled when you make a withdrawal.

This may be a good option if you expect to be in a higher tax bracket in retirement, or if you are young and have more time to accumulate tax-free earnings.

Investment options

Choose your funds

Empower provides a number of investment funds so you can build a portfolio that meets your needs. If you’re not sure where to begin, consider the BlackRock LifePath target-date funds. With these target-date funds, you select a fund named for a year close to when you expect to retire, and that fund’s mix of stocks, bonds and other investments automatically becomes more conservative as the target year approaches.

Use My Financial Path

With Empower’s My Financial Path, you have access to numerous planning, saving and investing calculators. Answer a few simple yes or no questions, and the Next Step Evaluator will give you an action plan for your financial goals. Access Empower’s learning center for a variety of tools and resources to get your finances going in the right direction, from managing debt to saving for college or retirement.

Get professional help

Empower’s managed account service lets you delegate the day-to-day management of your 401(k) to professional investment managers. With a managed account, you can take advantage of Empower’s resources and experience to help ensure that:

• Your investments are managed through the ups and downs of the market.
• You’re keeping your accounts aligned with your goals through annual reviews and check-ins.
• Your account is actively managed to create an opportunity for long-term gains while managing the risk associated with investing.

Managed account fees are based on a percentage of your 401(k) account balance.

Make ESG investments

You may want to incorporate environmental, social and governance (ESG) factors into your investment decisions. You have two options for ESG investing for your 401(k) account: the BlackRock Advantage ESG U.S. Equity Fund and the Goldman Sachs International Equity ESG Fund.

To review your investment options and determine which approach is right for you, visit myrivian401k.com.

Previous employer 401(k) rollover

You can consolidate your retirement accounts by rolling over your 401(k) from a previous employer to your Empower 401(k). You will need to reach out to your previous employer’s plan with the information on how to address the check, in addition to coordinating with Empower.

Follow these steps:

1. Call Empower at 844-465-4455 to initiate the 401(k) rollover
2. Request a distribution from your previous plan. In most cases, you can request a distribution by phone or online. Check your last statement for contact information.
   • The distribution check should be made payable to:
     • Great-West Trust Company, LLC for the benefit of (FBO) [insert your name]
   • Include the retirement plan’s name on your check.
3. Mail your completed rollover form and distribution check to the mailing address listed on the form.