Frequently asked questions

The Double Fine 401(k) Plan is merging with the Microsoft 401(k) Plan on December 8, 2022. Here are answers to common questions.

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In recent months, we’ve been working together with Microsoft to explore the potential benefits of merging our 401(k) programs. We took a deep look at both 401(k) Plans and found that they have several similar terms. With these similarities in mind, one area we focused on was the strength of combined assets for investment purposes. By combining the assets of the Double Fine and Microsoft 401(k) Plans, we create greater financial leverage to negotiate fees directly with investment managers, which benefits all plan participants. Based on this, we decided to bring the two plans together to help provide you with new investment opportunities.

Yes. Once the blackout period has ended, you will have a new website to access your 401(k) account: www.netbenefits.com/microsoft. If you already have an account at Fidelity, you may use your same username and password to access your new Microsoft 401(k) Plan account. Otherwise, you will need to follow the on-screen prompts to create your login credentials. The NetBenefits app is also available for download through the Google Play or Apple App Store for convenient access on the go. You also will have a new phone number to call about your Microsoft 401(k) Plan account: 1-888-810-MSFT (6738).

It’s always a good idea to protect your account, which is easy to do with Fidelity’s security features: two-factor authentication and MyVoice®.

  • Two-factor authentication: With two-factor authentication, you get an additional security check point every time you log in, or whenever you log in from a new device. Make sure your phone number is on file before you sign up. You can set this up through the Security Center on your NetBenefits Profile page beginning the week of December 25, 2022. 

  • MyVoice®: When you call Fidelity you can set up MyVoice, a way to conveniently secure and verify your identity based on your unique voiceprint—a combination of your physical and behavioral voice patterns. Next time you call, say "account access" when prompted, or your Fidelity representative will offer to enroll you—you’ll just need to provide consent to create your voiceprint.

Both the Double Fine and Microsoft 401(k) Plans offer a wide range of investment options designed to let you create an investment mix that matches your individual goals and your tolerance for risk and potential return. Each plan offers a different menu of funds, however. 

As a result, your Double Fine 401(k) Plan investments will move to different investment options in the Microsoft 401(k) Plan on December 8, 2022. The move applies to your investment elections for both your current account balances and your future contributions. 

View the Investment Mapping Report to understand how you will be affected.

  • If you are happy with the way your investments will transfer, you don’t need to do anything. 

  • If you want your investments to transfer differently, you will need to actively change your current Double Fine 401(k) Plan investment elections for your account balances and future contributions before 1 p.m. PT on December 2, 2022, so that your investments will transfer to the fund(s) of your choice. The transfer will occur on December 8, 2022.

Roth 401(k) contributions are similar to traditional pre-tax contributions in many ways. Both are eligible for the company match, and combined, they are subject to the same IRS contribution limit ($20,500 in 2022, or $27,000 if you’re 50 or older). But here’s the difference: when you make Roth contributions to your 401(k), the money is deducted from your paycheck after taxes are withheld and "qualified withdrawals" will be federally tax-free (including any investment earnings). A qualified withdrawal is one that is taken at least five tax years after the year of your first Roth 401(k) contribution and after you have reached age 59½, become disabled, or die. If you are eligible to contribute to the 401(k), you are eligible to make Roth 401(k) contributions. Unlike a Roth IRA, Roth 401(k) contributions are not subject to restrictions based on your adjusted gross income.

As their name suggests, after-tax (non-Roth) contributions come out of your pay after taxes, which means you pay taxes upfront, at your current tax rate. These contributions grow tax-deferred, and only earnings are taxed upon withdrawal. For additional tax-advantaged savings, you can use the Roth in-plan conversion feature to convert after-tax balances to Roth.

After-tax (non-Roth) contributions aren’t eligible for Microsoft matching contributions, so consider making pre-tax and/or Roth contributions first to take advantage of the matching contributions.

A Roth in-plan conversion allows you to convert pre-tax or after-tax money in your Plan account to Roth, while that money is still within your Plan account. Depending on your personal situation, converting your pre-tax or after-tax funds to Roth can potentially provide long-term tax benefits. After the transition, you will be eligible to complete a Roth in-plan conversion of any Plan balances, other than outstanding loans and Roth 401(k) balances. This includes pre-tax, company match, rollover, and after-tax balances. Converted assets will appear as a Roth balance in your Plan account. You should consult with your personal tax advisor before deciding whether Roth 401(k) contributions or Roth in-plan conversions are right for you. 
 
The taxable portion of your Roth in-plan conversion is taxable to you at the time of the conversion and will impact your personal income tax return for that year. This is an irrevocable transaction, and it is recommended that you consult a tax advisor to determine the impact of a Roth in-plan conversion on your personal tax situation. To request a Roth in-plan conversion, or to get details specific to your account, call the Fidelity Service Center after the transition period, on or around the week of December 25, 2022, at 1-888-810-MSFT (6738). You can request a Roth in-plan conversion at any time and there are no processing fees.

You can also elect daily automated Roth in-plan conversions for new payroll after-tax contributions only. With this election, Fidelity will automatically convert new after-tax contributions into Roth within the Plan almost as soon as they are contributed to the Plan.

To elect the automated Roth in-plan conversion of your after-tax contributions:

  1. Go to Fidelity NetBenefits.

  2. Go to Quick Links (next to your 401(k) account), then choose Contribution Amount.

  3. On the Contributions page, under Manage Your Contribution Amount, choose Contribution Amount.

  4. Make your After-tax (non-Roth) contribution election.

  5. Choose Convert My After-Tax Contributions.

  6. Click Change Contribution Amount.

Note: Only new payroll after-tax contributions, made after the date of your conversion election, will be converted to Roth with this feature. To request a conversion of any other balances that aren’t captured by the automatic conversion feature, call the Fidelity Service Center, on or around the week of December 25, 2022, at 1-888-810-MSFT (6738). All converted amounts are subject to the Internal Revenue Service (IRS) qualified plan rules, and distributions of converted amounts may be restricted if you’re under age 59½.

To learn more about automatic Roth in-plan conversions review the Roth Conversions information.
 

Put simply, Fidelity BrokerageLink® is an account within the Microsoft 401(k) Plan that gives you access to investments beyond those in your Plan’s lineup, including mutual funds, exchange-traded funds (ETFs), and individual stock, bonds, options, and other investments.

Additional fees may apply when you invest through BrokerageLink®. Some funds have transaction fees, while others don’t. For funds with transaction fees, these fees are imposed based on how you make your trades. The most economical way to place trades is online. The BrokerageLink fact sheet and commission schedule provide additional information for applicable fees and risks.

BrokerageLink includes investments beyond those in your Plan’s lineup. The plan fiduciary, the 401(k) Administrative Committee (the “Committee”) neither evaluates nor monitors the investments available through BrokerageLink. You should compare investments and share classes that are available in your Plan’s lineup with those available through BrokerageLink, and determine what is appropriate for your situation. It is your responsibility to ensure that the investments you select are suitable for your situation, including your goals, time horizon, and risk tolerance.

Microsoft and the Committee believe that you should use BrokerageLink only if you are highly motivated and/or a very experienced investor who wants further diversification opportunities, recognizing that you are losing the benefit of the Committee’s fiduciary oversight of selected Plan investments. You should not select BrokerageLink unless you are comfortable with the potential risk of large losses within your 401(k) Plan account – your choice of investments that do not perform to your investment risk tolerance could potentially reduce or eliminate your retirement savings. You should think twice about selecting BrokerageLink if you are relying on the help of someone else (e.g., friend, family, coworker) to invest your accounts; this generally suggests that you are not a sufficiently sophisticated investor and should not use BrokerageLink.

To open a BrokerageLink account, visit Fidelity NetBenefits once the transition period ends, on or around the week of December 25, 2022, and choose BrokerageLink from the Quick Links menu next to your 401(k) account.
 

You can use Fidelity’s Planning & Guidance Center (at no additional cost) to get a personalized, online planning experience to help you set goals and better understand your full financial picture. You can get help with your investment strategy and create a plan for retirement, college, or a personal savings goal. Learn more at www.netbenefits.com/microsoft beginning the week of December 25, 2022.

Or, if you would like to have your 401(k) account professionally managed by Fidelity, you can enroll in Fidelity’s Personalized Planning & Advice service beginning the week of December 25, 2022. For a fee, Fidelity’s team of investment professionals will manage your account based on the preferences you provide in your profile. They will invest, monitor, and rebalance your portfolio to reflect changes in the market or your personal circumstances. 

IMPORTANT: The projections or other information generated by the Planning & Guidance Center's Retirement Analysis regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results. Your results may vary with each use and over time.

Yes. If you are eligible for and would like to request a rollover of new assets into or take a loan or distribution from your Double Fine 401(k) Plan account, you must complete and submit the request in good order to Denise Gollaher (denise@doublefine.com) no later than 1 p.m. PT on November 30, 2022. Submissions after this date may result in the transaction being rejected.

Your outstanding loan balance will be transferred to the Microsoft 401(k) Plan. Your loan repayment will remain the same and will be deducted from your paycheck on the same schedule. The quarterly loan maintenance fees will be reduced as a result of this transition. Please contact Fidelity if you have questions about your loan.

The Microsoft 401(k) Plan allows you to hold two outstanding loans at the same time: one general purpose loan and one principal residence loan.

No, any beneficiary designations you made in the Double Fine 401(k) Plan will not transfer to your account in the Microsoft 401(k) Plan. You will need to assign beneficiaries for your Microsoft 401(k) Plan account once the transition is complete on or around the week of December 25, 2022. To make beneficiary designations in the Microsoft 401(k) Plan, visit www.netbenefits.com/microsoft after December 25, 2022, click on “Profile” at the top of the page, and then choose “Beneficiaries.”

Your current balances in your Double Fine 401(k) Plan account will be merged into your existing Microsoft 401(k) Plan account and invested as shown in the Investment Mapping Report.

If you are actively employed at Double Fine, the investment elections for future contributions in your Double Fine 401(k) Plan account will be mapped as shown in the Investment Mapping Report and transferred to your account in the Microsoft 401(k) Plan after 1 p.m. PT on December 8, 2022. Otherwise, any investment elections for future contributions in your Microsoft 401(k) Plan account will remain unchanged.

 

Where to go for help

Before December 1, 2022

www.johnhancock.com/myplan
1-800-395-1113

Beginning the week of December 25, 2022

www.netbenefits.com/microsoft
1-888-810-MSFT (6738)

Outside the U.S.: Dial the International Access Code (IAC) followed by 877-833-9900. Check the IAC for your country at http://www.att.com/traveler.