To encourage employee savings in the 401(k) plan, Cotality uses an auto increase program. Here's how it works:
- Auto Increase - If you are contributing less than 10% of pay and have not opted out in the previous 6 months, your contribution rate will increase by 1% every July 1 until you reach a 10% contribution rate
- No Change - If you have opted out of participating within the previous 6 months, your contribution will not be increased
If you are currently contributing at least 10% of pay to the plan, you will not be impacted by auto increase. Remember, you can change your contribution percentage at any time, or opt out of participating, by visiting
Fidelity's website.
| Feature |
Description |
Audience |
Opt Out/Change Period |
Paycheck Effective Date |
| Auto Increase |
Annual increase of 1% |
Employees contributing between 1%-9% who haven’t opted out in the last 6 months |
June/July 2025 |
July 2025 |
If you are already enrolled in the program and want to change your election, log on to the 401(k) website and then click on Annual Increase Program link (see screen shot below).
From the following screen you can change your annual increase amount, un-enroll or remove the plan level maximum.
The following shows if you elect to change your annual increase amount.
The following shows if you choose to un-enroll in the auto increase program.
The following shows if you remove the plan cap and continue the annual increase.
