Home Depot 401(k)

Home Depot offers its employees a robust 401(k) plan, the Home Depot Futurebuilder Plan, to help employees save for their golden years. If you recently joined Home Depot or you are an existing employee seeking more information about the company's retirement plan, here is everything you need to know about the Home Depot 401(k) plan.

New employees become eligible to enroll in the Home Depot Futurebuilder plan immediately upon hire. Enrolled participants can contribute as much as 15% of their eligible pay to the 401(k) plan. However, to receive the employer match, an employee must have completed at least one year of service, equivalent to 1000 hours. Employer matching contributions become fully vested after three years of service.

Home Depot 401k provider

Home Depot offers the Home Depot Futurebuilder Plan to its employees through Alight Solutions. The company manages assets for over 35 million people and dependents and has over $1.2 trillion in assets under management. Enrolled participants can access their 401(k) accounts through the Alight Solutions website, where they also get access to various tools and resources to help them manage their retirement money.

Home Depot 401k login

Enrolled Home Depot Futurebuilder plan participants can access their retirement money through the Alight Solutions website. To log into your 401(k) account, you must provide your user ID and password. The website also has a “forgot user ID or Password” feature to help you reset your login credentials. If you are a new user, you must first sign up on the website to access your retirement account.

Home Depot 401k match

Home Depot offers a competitive 401(k) match to help employees maximize their retirement savings. Eligible participants receive a 150% match on the first 1% of the employee's eligible pay contributed to the 401(k) plan, and a 50% match on the next 2% to 5% of eligible pay contributed to the plan.

So, if you contribute at least 5% of your eligible pay to your 401(k) plan, Home Depot will contribute an additional 3.5%. Home Deposit employees become eligible to receive the company match after completing one year of service, equivalent to 1000 hours of service.

Home Depot 401k customer service

For assistance with your 401(k) benefits, you can contact Alight Solutions’ benefits representatives at 800-555-4954 any time from Monday through Friday 9.00 am to 9.00 pm EST. If you are a Home Depot supply employee, you can get help with your 401(k) plan through 866-686-4440 or 800-555-4954 Monday through Friday, 9.00 am to 9.00 pm EST.

Home Depot 401k loan

The Home Depot Futurebuilder Plan offers a loan provision that allows enrolled employees to borrow against their retirement savings. Participants can generally borrow against their vested balance to meet various needs.

The plan offers a general-purpose and residential 401(k) plan loan to meet different needs. You can borrow the lesser of 50% of your vested balance up to a maximum of $50,000. The specific terms such as loan repayments, interest rates, and repayment period are outlined in the plan documents.

Home Depot 401k after termination

If you have been terminated or left Home Depot, you have several options with your 401(k) plan. You can choose to leave your 401(k) money in the Home Depot Futurebuilder plan, roll over to an IRA or 401(k), or withdraw the money. If you choose to withdraw the money, and you are below age 59 ½, you will owe income taxes and an additional 10% early withdrawal penalty tax.

Home Depot 401k withdrawal

You can make withdrawals from your Home Depot 401(k) plan starting from age 59 ½ or later. Be aware that you will owe ordinary income taxes on the withdrawals you make. You can request withdrawals by logging into your 401(k) account on the Alight Solutions website. You can choose to receive the distribution through direct bank transfer or via mailed check.

Home Depot 401k early withdrawal

Early withdrawals from your Home Depot 401(k) plan may be subject to a 10% early withdrawal penalty in addition to ordinary income taxes. However, if you are facing an immediate and heavy financial need, you may be eligible for hardship withdrawals. Some situations that qualify for hardship withdrawals include foreclosure, medical expenses, funeral expenses, roof repair, etc. These withdrawals may be exempted from the 10% early withdrawal penalty.

Home Depot 401k rollover form

To roll over your 401(k) funds into another qualified retirement plan, you will be required to fill out a rollover form. You can obtain the rollover form by logging into your 401(k) account on the Alight Solutions website. When filling out the rollover form, ensure you provide accurate information about the destination retirement plan and the type of rollover.

Home Depot 401k account number

You can find your Home Depot 401(k) account number by logging into your 401(k) account on the Alight Solutions website or by checking your 401(k) statements. If you are unable to locate your 401(k) account number, you can contact your benefits department or Alight Solutions customer service for assistance.

Home Depot 401k phone number

If you have any inquiries related to your Home Depot 401(k) plan, you can contact Alight Solutions at 800-555-4954 from Monday through Friday, 9:00 a.m. to 9:00 p.m. EST.

Home Depot 401k administrator

The plan administrator for the Home Depot 401(k) plan is Elizabeth Dixon, the director of executive compensation at the Home Depot. The plan administrator oversees the operations of the retirement plan to ensure compliance with relevant laws. You can contact the plan administrator at 770-384-5328 or through the following address- 2455 Paces Ferry Road, NW, STE C-18, Atlanta, GA, 30339-4024.

Home Depot 401k eligibility

New Home Depot employees are eligible to enroll in the 401(k) plan immediately upon hire. You can contribute as much as 15% of your eligible pay to your 401(k) plan, up to the annual 401(k) contribution limit. However, you must complete one year of service to receive the company match.

Home Depot 401k vesting

Employee contributions to the Home Depot 401(k) plan vest immediately. However, the company matching contributions become fully vested after 3 years of service, when employees get to own 100% of the employer match. If you quit or leave your job before the 3 years, you will only keep a portion of the employer match.

Home Depot 401k app

Home Depot employees can access their 401(k) funds through the Alight Mobile App. You can download the mobile app on Google Play Store and App Store. The app gives you access to multiple features, including health, wealth, and financial benefits like 401(k). You can check your 401(k) balance, update your investment options, and change your contribution amounts.

Home Depot 401k summary plan description

The Summary Plan Description (SPD) provides information about the Home Depot 401(k) plan, including eligibility requirements, contributions, employer match, withdrawal rules, rollovers, etc. You can request a copy of the SPD via the Alight website or by writing to the plan administrator.