Honeywell 401k

The Honeywell 401(k) plan is one of the benefit packages available to the company employees. This retirement plan offers a range of features designed to help employees grow their nest egg, from a generous company match to a variety of investment options. If you are a Honeywell employee or recently left the company, this guide will help you understand the ins and outs of the 401(k) plan.

Once you join Honeywell as a full-time employee, you will be eligible to enroll in the company's 401(k) plan immediately. You can contribute up to 30% of your eligible pay, subject to the IRS limit. Honeywell matches employee contributions at 87.5% of the first 8% of eligible compensation, equivalent to 7% of the eligible pay. The matching contributions become fully vested after three years of service.

Honeywell 401k provider

The Honeywell 401(k) plan is administered by Fidelity Investments, one of the largest financial services providers in the United States. Fidelity is known for its diverse investment options, helpful customer support, and user-friendly retirement platform. Fidelity offers Honeywell employees access to different types of investment options, including mutual funds, target-date funds, and Honeywell company stock.

Participants also get access to various tools including retirement calculators, retirement guides, and a mobile app to access their 401(k) account on the go.

Honeywell 401k login

To access your Honeywell 401(k) account, go to Fidelity’s NetBenefits website. You will be required to enter your username and password to log into your account. If you are a first-time user, you must register a new account on the sign-up page using your SSN and other personal information.

Once you have logged in to your 401(k) account, you can check your balance, change your contribution rate, update your investment options, request a statement, take a distribution, or update your beneficiaries.

Honeywell 401k match

One of the perks that Honeywell employees get is the generous employer match. The company offers an 87.5% match on the first 8% of eligible pay that employees contribute. This means that if you contribute 8% of your base salary, you will receive a 7% match, for a total of 15% of your eligible pay.

Honeywell makes the match in a lump sum payment by the end of January following the calendar year in which contributions were made. However, to be eligible for the match, you must be actively employed through December 15 of that year. The employer matching contributions are invested in the company common stock fund; once vested, you can re-allocate the funds into another investment in the Fidelity portfolio.

Honeywell 401 (k) customer service

If you need help with your 401(k) plan, you can reach Fidelity customer service representatives at 877-258-3699, anytime from Monday through Friday between 8.00 am to 8.30 pm ET.

Honeywell 401k loan

You can borrow money against your vested Honeywell 401(k) balance to pay for certain purchases or costs. The plan allows participants to borrow loan amounts of up to 50% of their vested balance, capped at a maximum of $50,000. The loans have a repayment period of 1 to 5 years for general-purpose loans and up to 15 years for home-purchase loans.

Remember, if you leave the company and you have an outstanding 401(k) loan balance, you will be required to pay the balance immediately, or it will be treated as a distribution subject to income taxes and a potential 10% early withdrawal penalty.

Honeywell 401k after termination

Once you have left Honeywell, you must decide what to do with your 401(k) balance. If you have $1000 or less in your 401(k) account, the funds will be paid out in a lump sum, and you will receive a mailed check, unless you request a rollover. If your balance is more than $1,000 but less than $5,000, your balance will be automatically rolled over to a traditional IRA with Fidelity, unless you request to cash out or roll over.

If your balance is more than $5,000, your 401(k) balance will remain in the retirement plan and shall only be distributed upon your request, once you reach the Required Minimum Distribution age, or upon your death.

Honeywell 401k withdrawal

You can take penalty-free withdrawals from your Honeywell 401(k) account after reaching age 59 ½. These withdrawals will still be taxed at your income tax bracket. You can choose to take partial withdrawals, lump-sum distributions, or set up systematic payments over a defined period. Once you reach age 73, you must start taking the required minimum distributions.

Honeywell 401k early withdrawal

You may be allowed to take early withdrawals before age 59 ½ from your Honeywell 401(k) plan. These withdrawals can trigger a 10% early withdrawal penalty, in addition to the regular income taxes, unless you qualify for an exemption.

Some of the situations that qualify for an exemption include permanent disability, unreimbursed medical expenses, a qualified domestic relations order, and funeral expenses. You will only be allowed to withdraw the amount needed to meet your financial needs, and you must provide documentation to support your withdrawal.

Honeywell 401k rollover form

To roll over your 401(k) to another retirement plan, such as an IRA or 401(k), you will need to complete a rollover form. You can obtain the form by logging into your NetBenefits account and filling out the rollover form. Follow the provided step-by-step guidance when filing the form, and submit it to Fidelity for processing.

Honeywell 401k account number

You can find your Honeywell 401(k) account number by logging into your NetBenefits account and navigating to your account details section. You can also find the account number on your previous account statements or official plan communications. If you still can't find it, contact Fidelity at 877-258-3699 for assistance.

Honeywell 401k phone number

The Fidelity customer service number for the Honeywell 401(k) plan is 877-258-3699, available Monday through Friday, 8.30 am to 8.30 pm Eastern Time. You can contact customer service if you need help with withdrawals, loans, selecting investments, or trouble logging in, etc.

Honeywell 401k administrator

The plan administrator for the Honeywell 401(k) plan is Cliff Kenyon, the Vice President of Global Total Rewards at Honeywell. You can contact the plan administrator at 704-627-6025 or by writing to the following address: 115 Tabor Road, Morris Plains, NJ, 07950.

Honeywell 401k eligibility

New Honeywell employees are eligible to participate in the company's 401(k) plan immediately upon hire. You can contribute anywhere from 1% to 30% of your eligible pay to a pre-tax, Roth, or combined account, subject to the annual IRS limits. For 2025, you can contribute up to $23,500 if you are under 50, and up to $31,000 if you are 50 and over.

However, if you are a highly compensated employee earning over $160,000, you may have different contribution limits.

Honeywell 401k vesting

Employee contributions to a Honeywell 401(k) plan are immediately 100% vested, including all earnings on those contributions. However, employer matching contributions become fully vested after three years of service. You will also become fully vested in the matching contributions if you become disabled or die, retire under a Honeywell pension plan, are laid off, your business unit is sold, or attain age 65 while still employed.

Honeywell 401k app

You can manage your 401(k) funds on the go using the Fidelity NetBenefits app, available on the App Store and Play Store for iOS and Android devices, respectively. You can use the mobile app to view your 401(k) balance, change your contributions, update your investment options, track investment performance, request withdrawals or loans, download statements, etc.

Honeywell 401k summary plan description

The summary plan description outlines the rights and benefits available to Honeywell 401(k) plan participants. It outlines the plan rules, eligibility requirements, contributions, matching contributions, vesting, distributions, and hardship rules. Newly enrolled participants receive a copy of the document as part of their onboarding documentation. You can also request a copy of the summary plan description from the plan administrator or Fidelity customer service.