The Transocean U.S. Savings Plan, or 401(k) plan, helps you save for retirement.
You can contribute a percentage of your eligible compensation to your account through:
- Pre-Tax Contributions – Save 1% to 50% on a pre-tax basis (up to the IRS-defined annual limit).
- After-Tax Contributions – Save 1% to 50% on an after-tax basis to a Roth or After-Tax 401(k)* account (up to the IRS-defined annual limit).
- Catch-Up Contributions – If you are at least age 50, you can save an additional 1% to 25% of your eligible base pay on a pre-tax and/or Roth after-tax basis (up to the IRS-defined annual limit).
* In order to set up auto conversion to Roth on these After-Tax contributions and avoid taxation on the earnings, you must call Fidelity.
Transocean Match
Transocean matches 200% on up to 5% of eligible compensation you contribute to the Savings Plan through both pre-tax and Roth contributions.
Savings Plan Enrollment
Taking advantage of the company match is a great way for you to save. When first eligible, if you don't take action, you will be automatically enrolled in the U.S. Savings Plan at 3%. Your contribution will automatically increase by 1% each year until you reach the maximum match of 5%. You can opt out of auto-enrollment and auto-increase at any time. This way you’re sure to take full advantage of the matching funds.
Visit Netbenefits.com at any time to:
- Change or stop your contributions to the Plan
- Change your investment options
- Designate a new beneficiary
Once you make your initial election or change your contribution, it will take 1 to 2 paychecks for your deductions to reflect on your paycheck, based on the payroll deadline.
Vesting
The money you put into your 401(k) is always yours to keep. And, you are automatically vested in your Transocean match. There is no vesting period required. So, Transocean's contributions into your account belong to you immediately.
Fidelity Personalized Planning & Advice
Fidelity Personalized Planning & Advice connects Transocean employees with a team of investment professionals. They can help you manage and adjust your investments in your 401k based on your specific needs and situation.
How To Contact Fidelity
Contact Fidelity Investments at +1 800 835 5098 or visit Netbenefits.com to explore your opportunities.
