Nike 401(k)

If you work at Nike, you get a solid head start thanks to the company's 401(k) plan. Whether you recently joined the company or are an active plan participant, you should understand how the Nike 401(k) plan works to help you take advantage of the available benefits.

Most Nike employees are eligible to join the Nike 401(k) plan immediately upon hire and can contribute up to 75% of their eligible annual compensation, subject to the IRS contribution limits. Nike also matches pre-tax and Roth contributions at a rate of 100% of the first 5% of a participant's eligible pay contributed to the plan.

Nike 401k provider

The Nike 401(k) plan, known as the 401(k) Savings and Profit Sharing Plan for the Employees of Nike, Inc., is with Fidelity Investments. The plan covers over 40,000 Nike employees, and enrolled participants have access to the user-friendly NetBenefits online portal for managing retirement funds.

Fidelity is one of the largest financial services companies in the United States, administering over $15.1 trillion in assets as of December 2024. Additionally, Fidelity serves over 40 million individual customers and works with thousands of employers to manage their workplace retirement plans.

Nike 401k login

Enrolled Nike 401(k) plan participants can access their retirement funds via Fidelity’s NetBenefits portal. This website allows participants to check their balance, track their investment performance, monitor their contributions, and make changes to their contribution rate and investments.

To log in, you must enter your username and password. If you are logging in to NetBenefits for the first time, you will need to register your account using your Social Security Number and date of birth. Once set up, you can log into your 401(k) dashboard to manage your retirement funds.

Nike 401k match

Eligible Nike employees receive a generous employer match to help them save for retirement. The company offers a 100% match of the first 5% of your eligible pay that you contribute to a pre-tax or Roth 401(k). So, if you contribute at least 5% of your eligible pay, Nike will contribute an additional 5% of your salary, doubling your 401(k) savings.

Nike 401k customer service

If you need help with your 401(k) account, contact Fidelity's customer service team at 800-835-5095 Monday through Friday, from 8.30 am to midnight EST. There are no weekend hours. You can contact customer service if you need help with a 401(k) loan application, withdrawals, or trouble logging in. You will be asked to provide your personal information to verify your identity.

Nike 401k loan

If you need short-term access to your 401(k) funds, the Nike 401(k) plan lets you borrow against your vested account balance. You can borrow the lesser of 50% of your vested balance or a maximum of $50,000. You can borrow a general-purpose loan with a term of up to 5 years or a residential loan with a term of up to 10 years. Loan repayments are made through payroll deductions, and the interest goes back into your 401(k) account.

Nike 401k after termination

When you leave your job at Nike, whether through resignation, retirement, or other reasons, you can decide what to do with your money. If your vested 401(k) balance is above $1,000, you can leave the money in the plan, roll it over to a qualified retirement plan, or take a lump sum distribution.

If your balance is below $1,000, it will be cashed out, and you will receive a mailed check with your account balance. Keep in mind that only vested contributions are available for withdrawal or distribution.

Nike 401k withdrawal

You can make withdrawals from your Nike 401(k) account after age 59 ½ penalty-free; you will still owe regular income taxes on the withdrawal. If you have a Roth 401(k) account, you can take tax-free distributions if you have had the account for at least five years. Participants may also be allowed to make in-service withdrawals while still working, but these withdrawals may be subject to income taxes and early withdrawal penalties.  

Nike 401k early withdrawal

You may be allowed to withdraw money from your Nike 401(k) plan if you are younger than 59 ½. Early withdrawals are subject to a 10% early withdrawal penalty tax unless you qualify for an exemption.

To qualify for the early 401(k) withdrawal, you must be facing a heavy and immediate financial need such as medical expenses, permanent disability, funeral expenses, eviction or foreclosure, purchase of principal residence, etc. You must provide documentation to support your hardship, and the plan administrator must approve the specific hardship.

Nike 401k rollover form

If you want to roll over your Nike 401(k) funds into an IRA or other qualified retirement plan, you will be required to fill out and submit a rollover form to initiate the rollover. You can obtain the rollover form by logging into your 401(k) account on NetBenefits or by calling customer service. When submitting the rollover form, you can request a direct rollover to avoid triggering taxes and penalties.

Nike 401k account number

You can find your Nike 401(k) account number by logging into your 401(k) account on Fidelity’s NetBenefits portal. Your account number will be listed under your account summary. You can also find your Nike 401(k) account number on your quarterly 401(k) statements and plan communications issued by Fidelity.

Nike 401k phone number

For any questions related to your Nike 401(k) plan, you can contact Fidelity customer service at 800-835-5095, Monday to Friday, 8.30 am to Midnight EST. 

Nike 401k administrator

The plan administrator for the Nike 401(k) plan is Jonathan Treadway. You can reach the plan administrator for any issues related to your benefits at 503-532-3402 or by writing to the following address: Nike, Inc. One Bowerman Drive, Beaverton, OR 97005-6453.

Nike 401k eligibility

Most Nike employees are eligible to join the Nike 401(k) plan starting on day one of employment. Eligible employees can start contributing to the plan immediately and receive matching contributions. However, profit-sharing contributions require employees to have completed one year of employment with at least 1,000 hours of service and be employed as of the last day of the plan year.

Nike 401k vesting

Nike 401(k) plan participants are immediately vested in their elective contributions, rollovers, and employer-matching contributions. However, different vesting rules apply for Nike's profit-sharing contributions; these contributions vest at 25% per year after completing two years of service, and the vesting increases by 25% for each additional year of service until they become fully vested after five years.

Nike 401k app

Enrolled plan participants can manage their Nike 401(k) funds on the go using the Fidelity NetBenefits Mobile app, available on the App Store and Play Store. The NetBenefits app allows you to check your balance, adjust your contribution percentages, view transaction history, request withdrawals, apply for loans, and access your statements.

Nike 401k summary plan description

The Nike 401(k) summary plan description provides an overview of the Nike 401(k) plan, including eligibility requirements, contributions, employer match, vesting rules, withdrawals, and plan loans. Once you enroll in the plan, you will receive a mailed copy of the summary plan description. You can also request the summary plan description through your 401(k) account on NetBenefits, or by requesting a copy from your plan administrator or benefits department.