If you’re an employee at Dollar General, chances are that you’re enrolled in their 401k retirement plan. A 401k is a type of retirement savings account offered by employers, allowing employees to contribute a portion of their salary toward their retirement fund.

However, as with any other employer-sponsored benefit, it’s important to understand how to access and manage your 401k from Dollar General.

What is a 401k Plan?

A 401k plan is a type of retirement savings account offered by employers to their employees. It allows employees to contribute a percentage of their salary (pre-tax) towards their retirement funds, with some companies even offering matching contributions.

Dollar General’s 401k plan is administered by Fidelity Investments, one of the largest investment management companies in the world.

As an employee at Dollar General, you have the opportunity to contribute towards your retirement fund with Fidelity Investments managing and investing your funds.

How to Access your 401k from Dollar General

Now that we understand what a 401k plan is, let’s discuss how you can access your funds from Dollar General. The process may vary depending on whether you’re an active employee or a former one.

Active Employees

If you’re currently working at Dollar General, you can access your 401k funds through Fidelity NetBenefits, the online platform for managing your retirement account. Here’s how to do it:

1. Log in to Fidelity NetBenefits using your username and password.
2. Click on “Accounts” and select “401k“.
3. Here, you can view your account balance and make any necessary changes to your contribution amounts or investment options.

Former Employees

If you’ve left Dollar General, your 401k account will still be managed by Fidelity Investments.

1. Log in to Fidelity NetBenefits using your username and password.
2. Click on “Accounts” and select “401k – Dollar General.“
3. Under “Account Details,” click on the option to “Move My Money Out.“
4. You can choose to roll over your funds into an IRA or another employer’s retirement plan, receive a check, or have Fidelity manage your funds through their BrokerageLink program.

What Happens to My 401k When I Quit Dollar General?

If you leave Dollar General, your 401k account will remain open and continue to be managed by Fidelity Investments. You can choose to keep the funds in your 401k account or roll them over into another retirement plan.

However, if you have less than $5,000 in your 401k account, Dollar General may cash out your funds and send you a check.

If this happens, it’s important to note that you’ll be subject to taxes and penalties for early withdrawal if you’re under the age of 59 ½.

However, it’s important to note that if you have a loan from your 401k and you leave Dollar General, you’ll need to pay it back in full within a certain timeframe. Otherwise, it will be considered a distribution and subject to taxes and penalties.

Conclusion

Accessing your 401k from Dollar General is a simple process that can be done through the Fidelity NetBenefits platform. Whether you’re an active or former employee, it’s important to regularly check and manage your retirement account to ensure you’re on track for a comfortable future.