Save for the future with the NVIDIA 401(k) Retirement Plan. All regular employees are eligible to participate.
Joining gives you:
- Choices about how to save—pre-tax, Roth, and after-tax contributions
- Free money from NVIDIA
- Choice of managed investment funds or self-directed brokerage funds
- Rollover opportunities
- Loan and withdrawal options
- 24/7 access to your account, planning tools, and calculators
There are three ways you can choose to contribute to the NVIDIA 401(k) plan. Be sure to consult with your tax advisor on which may be most suitable for you.
- Pre-tax. The money you contribute to the plan is deducted from your paycheck before federal and state taxes are withheld in applicable states. Taxes on your contributions, NVIDIA’s matching contributions, and any investment earnings are deferred until you withdraw your money in retirement. In 2022, the annual Pre-tax limit is $20,500. (The IRS’ limit of $20,500 is a combined limit between Pre-Tax and Roth Basic contributions).
- Roth Basic. The money you contribute is deducted after federal and state taxes are withheld in applicable states. As a result, you may not be required to pay taxes on any of the earnings associated with your contributions in retirement as long as your distribution qualifies. Be sure to work with a tax advisor to ensure you understand the rules that qualify a Roth Basic distribution. Be advised that you do pay ordinary income tax on NVIDIA’s matching contributions when you withdraw your money in retirement. In 2022, the annual Roth limit is $20,500. (The IRS’ limit of $20,500 is a combined limit between Pre-Tax and Roth Basic contributions).
- After-tax. The money you save is deducted after taxes and other deductions are withheld. You can save up to $31,500 in addition to any pre-tax or Roth Basic contributions. You can withdraw your after-tax contributions any time, paying tax only on the investment earnings. Or you can convert your after-tax contributions to Roth savings within the NVIDIA 401(k) plan. You’ll want to call Fidelity (at 1-800-890-4015,) to trigger your initial conversion. – conversions These may be automated after your first call to Fidelity. (See next bullet.) NVIDIA does not match after-tax contributions. In 2022, the annual After-tax limit is $33,500.
- In-plan conversion. You can transfer your pre-tax or after-tax savings into Roth savings within the NVIDIA 401(k) plan. You’ll pay federal income tax in the year of conversion, but that’s it. You do not pay taxes on the investment earnings after they are converted to Roth.
If you participate in the NVIDIA 401(k) plan using pre-tax or Roth contributions, NVIDIA will match your contributions dollar-for-dollar every pay period, up to this year’s annual limit of $6,000 and fifty cents to a dollar for the next $2,000 of your contributions.
The way you invest in your 401(k) account is completely up to you—your contributions, NVIDIA’s match, and any funds you roll over from another account can all be invested in our core portfolio of funds, target date funds that match the year you think you’ll retire, or even in a brokerage account you set up with our administrator—Fidelity. Your funds, your choice, your retirement, it’s all about you! See all your investment options on the Fidelity website.
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 NVIDIA 401(k) Retirement Plan. For more information, go to the Fidelity website.
Your 401(k) is meant for your future. However, NVIDIA understands you may find yourself in a situation where you need to borrow or withdraw from your account before retirement. If that happens, you can contact Fidelity to learn more about your choices.
You’ll find a variety of tools on the Fidelity website to help you stay on top of your account and make plans for your future. Here’s an overview of what you can do:
- Change your contribution amount or type (for example, pre-tax, Roth or after-tax)
- Change how your money is invested
- Calculate how much you’ll need for retirement