H&R Block offers associates working in the U.S. the opportunity to save for retirement through the Retirement Savings Plan (RSP), a 401(k) plan administered by Fidelity.
You can contribute a portion of your compensation, up to the IRS maximum of $20,500, on either a pre-tax or Roth after-tax basis (or a combination of the two). If you are age 50 or older, you may contribute up to an additional $6,500. This would include any contributions to another employer's 401(k) plan.
H&R Block currently provides a Company Match of $1 for each $1 you contribute, up to 5% of your total annual eligible compensation. All Company Match funds are deposited into a pre-tax account. The amount of your compensation that can be taken into account when determining employer and employee contributions is limited by the IRS to $305,000 in 2022.
All of your contributions and the Company Matching Contributions are always 100% vested.
This plan offers you the opportunity to select from several different investment options for your account. These options include mutual funds and an individual self-directed brokerage account.
Rollovers of eligible funds are allowed into your 401(k) account from certain other qualified plans.
When you contribute to the RSP on a Roth after-tax basis, the money goes into your plan account after taxes are withheld.
In exchange for paying taxes now, both your contributions AND any earnings can be withdrawn tax-free in retirement, provided you meet two requirements for earnings:
Fidelity’s comprehensive website, NetBenefits provides a number of educational resources that can help. With NetBenefits, you can: