Retirement

No matter what life stage you’re in, participating in a 401(k) plan is a simple way to grow your nest. At Benchling, we are committed to your financial wellbeing and want you to get the most out of the plan.
Eligibility
US employees are eligible to participate in the 401(k) plan the first of the month following date of hire. The exact eligibility date will fall on the first day of the calendar month coincident with or next following the start date. For example, if an employee is hired on 1/15/25, they will be eligible to participate starting 2/1/25.
Enrollment

Upon hire, you will receive an email from Fidelity, our 401(k) administrator, with instructions to enroll in the 401(k).

If an employee doesn’t opt out of the plan or adjust their contribution percentage, they will be automatically enrolled in the plan at 6% pre-tax contributions. If they do not make a deferral election, the automatic deferral amount will increase by 1% in the second through ninth year to a maximum of 15%.

Contributions

Employees may elect to defer up to 92% of their eligible compensation on a pre-tax, post-tax (Roth), and after-tax basis.

  • Pre-tax contributions: Money goes into your retirement account before it gets taxed. Every dollar you save will reduce your current taxable income by an equal amount, which means you’ll owe less in income taxes for the year. Any earnings in the account (including interest, dividends and capital gains) are all tax-deferred, meaning you won’t owe any income tax on these funds until you withdraw money from your account. Withdrawals will be taxed as ordinary income.
  • Post-tax (Roth): You make your contributions with after-tax dollars, meaning there’s no upfront tax deduction. Withdrawals of both contributions and earnings are tax-free.
  • After-tax (Mega Backdoor Roth): After-tax contributions are a separate bucket of money from your traditional 401(k) and Roth 401(k) contributions. The dollars you put into an after-tax bucket are post-tax, so you’ve already paid taxes on them. You can convert after-tax contribution into Roth, in order for earnings to grow tax free – this is known as the “Mega Backdoor Roth.”
    • In order to facilitate the Mega Backdoor Roth conversion – you’ll need to call Fidelity’s Participant Services at (800) 835-5095. It is recommended that you set up standing instructions for all future after-tax contributions to be automatically converted to Roth. It is the participant’s responsibility to complete this step.
Employee Contribution Limit (Pre-tax and Roth) Employee Catch Up Limit (Pre-tax and Roth) Employee After-Tax Contribution Limit Total Employee Contribution Limit Employer Match Max Total Employee + Employer Contribution Limit
Employees aged <49 $23,500 $0 (N/A) $43,500 $67,000 $3,000 $70,000
Employees ages 50 – 59 $23,500 $7,500 $43,500 $74,500 $3,000 $77,500
Employees ages 60 – 63 $23,500 $11,250 $43,500 $78,250 $3,000 $81,250
Employees 64+ $23,500 $7,500 $43,500 $74,500 $3,000 $77,500
Employer Match Contributions

Benchling will match employees’ 401(k) pre-tax and Roth contributions dollar for dollar up to 3% of eligible compensation with an annual cap of $3,000. After-tax contributions are not eligible for the employer match. Matching contributions are calculated and funded based on your YTD eligible earnings and contributions.

Investment Options

Choose your investments from several pre-selected professionally managed funds or opt for a self-managed BrokerageLink account. Options are available to view in your Fidelity account.

Documents

Summary Plan Description

401(k) Summary Plan Description

Rollover Form – To initiate an incoming rollover, follow the attached instructions.

Fidelity Approved Rollover Instructions Form

Benchling’s Participant Fee Disclosure Notice

Help

For assistance, reach out to the Fidelity Customer Service Team.

Additional 401(k) Information

Increase Your Retirement Savings with a 401(k)

  • Benchling  will match your contribution for each dollar you contribute to the plan, up to the first 3% of your eligible earnings, with an annual cap of $3,000.
  • Contribute using convenient payroll deductions up to the IRS limit for 2025 of $23,500 per year.
  • Change the amount of your contributions or stop your payroll contributions at any time.
  • Decide how to invest your 401(k) or allow the plan to choose for you.
  • After-tax contributions and Roth in-plan conversions are also possible.
  • You can contribute an extra $7,500 at age 50 – 59.
  • You can contribute an extra $11,250 at age 60 – 63.