401(k)

Saving for the future

The 401(k) Plan, administered by Fidelity, is an easy and effective way to save for the future with help from Gulfstream.

Employees, age 18 and over, are immediately eligible to participate, and contributions can be made on a pre-tax, Roth or after-tax basis. Contributions can be changed at any time during the year by visiting gdbenefits.com.

Take advantage of key features like a company match, tax advantages, and investment options to help you prepare for retirement. With the 401(k) Plan, you can:

• Defer taxes by making pre-tax contributions to the plan
• Be eligible to receive matching contributions from Gulfstream
• Defer taxes on the investment earnings on all plan contributions

Pre-tax vs. after-tax contributions

• Pre-tax contributions lower your taxable income today. You don’t pay taxes on this money or its earnings until you take a distribution from the Plan. 
• After-tax contributions don’t lower your taxable income today. But since you’ve already paid taxes on this money, the contributions and, in most cases, the earnings won’t be taxed when you take it out later.

Employee Contributions

You can contribute 1% to 75% of your eligible pay, up to the 2024 IRS annual maximum of $23,000. 

If you are age 50 or older at any time during the calendar year, you are eligible to make catch-up contributions, either pre-tax and/or Roth catch-up. For 2024, IRS will allow you to contribute an additional $7,500. 

You can change your contributions at any time. It typically takes one or two pay periods after you’ve made the change. To make a change, log onto gdbenefits.com or call the General Dynamics Center at 888-432-3633.

Matching Contributions

Gulfstream matches 100% of the first 6% of your contributions.

Rollover from another 401(k)

If you have another eligible retirement account from a former employer or an individual retirement account (IRA), you may be able to roll over your account balance with Fidelity. Before you move your account balance, you should research your options and consult with a tax advisor. Visit Fidelity for more information.

Financial Planning and Retirement Guidance

If you have questions about your finances, Fidelity’s Planning and Guidance Consultants can help you:

• Understand how much you will need to retire, and the steps you can take to get there
• Develop a plan for how to spend your hard-earned savings in retirement
• Review your current investment choices and asset allocation strategy
• Plan and invest for non-retirement savings goals, such as paying for college, buying a home, or building an emergency fund

Contact a Fidelity representative at 800-603-4015 to start your one-on-one discussion about creating a retirement savings strategy that’s right for you.