Enable Midstream helps you prepare for retirement through our competitive 401(k) Plan. Like our other benefits, planning for retirement is a partnership between you and Enable Midstream. We work together to build your retirement savings.
For new hires who do not make an election within 30 days, you will be automatically enrolled to contribute 6 percent of your compensation pre-tax, but you may cancel or change that election at any time. You may contribute up to $19,500 annually through pre-tax or Roth after-tax contributions. In any year that you are age 50 or older, you may contribute up to an additional $6,500 through pre-tax or Roth after-tax contributions (limits may change at any time – visit irs.gov for the most up-to-date maximums). You may also make traditional after-tax contributions that are not subject to these limits*.
*You must make a separate election if you want to take advantage of after-tax contributions or the Catch-up Contribution for people 50 or older.
Enable Midstream helps you build your savings in two ways.
- Matching Contributions: Enable Midstream matches your contribution dollar-for-dollar up to 6 percent of your eligible pay. Don't leave money on the table. Be sure to take advantage of that deal!
- Retirement Contributions: Enable Midstream makes an annual Retirement Contribution of 5 percent of eligible compensation. To receive this contribution, you must be employed with Enable on Dec. 31 of the plan year. The contribution will be deposited to your 401(k) account soon after the end of the plan year.
Your contributions and Enable Midstream's Matching and Retirement Contributions are yours to keep. They are immediately 100 percent vested.
Investing Your Account
The 401(k) Plan offers you a variety of investment options. You should research the risk and return objectives of each option, along with fees and expenses. More information is available at Fidelity’s website, www.NetBenefits.com.
You may change your investments under the plan at any time. **If you aren't an investment whiz, Vanguard Target Retirement Funds make investing easy. These funds offer a diversified investment approach tailored to your projected retirement date. They automatically rebalance your investments as you move toward retirement.
**Some funds have restrictions about how frequently you may buy and sell. Check Fidelity's website,www.NetBenefits.com, to learn about your investment options, or call the HR Service Center at 844-687-4748 (844-OUR-HR4U) and select option 2 to speak with a Fidelity representative.
Although the 401(k) Plan is intended for your retirement income, there are certain circumstances where you may borrow money from your account. You may have only one active loan in the Enable Midstream 401(k) Plan at any given time.
You can roll over eligible prior-employer 401(k) balances or IRA accounts into the Enable Midstream 401(k) Plan. You can learn more about the process for rolling over other qualified plans at NetBenefits.com, or by calling the HR Service Center at 844-687-4748 (844-OUR-HR4U) and selecting option 2 to speak with a Fidelity representative.
How to Enroll
Just follow these simple steps:
- Go to www.NetBenefits.com Click the Register as a new user link and follow the instructions.
- If you need assistance call the HR service Center at 844-687-4748 (844-OUR-HR4U) and select option 2 to speak with a Fidelity representative.
What If I Don't Enroll in Retirement Benefits?
If you don't enroll and make your own elections or decline to participate, you will be automatically enrolled in the Enable Midstream 401(k) at a 6 percent contribution rate. The default investment will be the age-appropriate Vanguard Target Retirement Fund that is closest to your "normal" retirement age (traditionally age 65). Automatic enrollment for new hires occurs after 30 days of employment.
For More Information
You can learn more about your 401(k) benefit, get investment advice, explore the fund lineup and find a wealth of financial information by visiting the Fidelity website at NetBenefits.com.
To contact Fidelity by phone, dial Enable Midstream's HR Service Center at 844-687-4748 (844-OUR-HR4U), option 2.