The Lucid Motors 401(k) Plan, administered by Fidelity, offers a variety of investment options. You don’t have to wait for annual enrollment; you always have access to manage your 401(k).
| IRS Contribution Retirement Plan Limits | 2026 Tax Year |
|---|---|
| 401(k) Elective Salary Deferral Limit | $23,500 |
| Age 50-59 or 64+ “Catch-Up” Limit | $7,500 |
| Age 60-63 Additional “Catch-Up” Limit | $11,250 |
Lucid will match your 401(k) contribution at 50%, up to first 4% of your salary and annual performance bonus (“Eligible Pay”).
| Traditional 401(k) | Roth 401(k) |
|---|---|
| You put money into your account before it is taxed. | The money is taxed before it goes into your account. |
| You pay taxes when you withdraw the money in retirement. | Withdrawals are tax-free in retirement if you meet IRS requirements*. |
| You must start taking money out of the account at age 73. | There are no required withdrawals during your lifetime. |
*See IRS requirements for withdrawal.
Lucid’s 401(k) Plan features:
| Immediate Eligibility | Free Money | Automatic Enrollment |
|---|---|---|
| There is no waiting period to enroll at 401k.com. | Lucid provides a 50% match of the first 4% you contribute. | If you don’t take any action within 30 days of your hire date, Lucid will automatically enroll you in the 401k plan at 5% (pre-tax contribution). |
| Immediate Vesting | Investment options | Beneficiary Designation |
| You’re 100% vested immediately. Any match is yours to keep, even if you leave. | You choose how much to save and how your contributions – and Lucid’s matching Invest 1% to 92% of your pay, pre-tax or Roth. | You must designate a beneficiary to ensure your benefits go to the right person if you pass away. |
Visit Fidelity NetBenefits or call Fidelity at 800‑835‑5097 (Mon–Fri, 8:30 a.m. – 8 p.m. ET).
There are several options and rules to know if you leave or are terminated from Lucid.
Keep your account open
If your vested balance is at least $7,000, you can typically leave your money in the Lucid plan and continue managing your investments, but you can’t make new contributions.
Automatic rollover for smaller balances
If your vested balance is under $1,000, Lucid may automatically cash it out. If it’s between $1,000 and $7,000, they may roll it into an IRA on your behalf.
| Amount Vested | Options |
|---|---|
| You leave with ≥ $7,000 | Keep money in the Lucid plan, roll over, or cash out |
| You leave with $1,000 – $7,000 | Possible forced IRA rollover |
| You leave with < $1,000 | Might be cashed out automatically |
Additional Options
You can rollover your account into another employer’s 401(k) or an IRA. Or you can cash it out, in which case you’ll pay ordinary income tax plus a 10% early withdrawal penalty if you’re under 59½. (If you’re 55 or older and separated from service, you may avoid the 10% penalty thanks to the “age 55 rule.”)
Note: Do this within 60 days to avoid taxes and penalties.
Upon your separation from Lucid, if you have a 401k loan, it will be your responsibility to contact Fidelity to make arrangements to set up monthly payments to continue paying your loan. Unpaid loan balances may default and be subject to IRS distribution taxes/penalties. Contact Fidelity at 800-835-5097 for any guidance on what to do with your account or visit www.netbenefits.com or the NetBenefits app.
How much can I contribute?
You may contribute between 1% and 92% of eligible compensation, before taxes (pre‑tax) or after taxes (Roth).
If I was hired mid-year and have 401(k) contributions from a previous employer in the same calendar year, how can I stop my deductions at the IRS maximum?
If you want the Lucid Benefits team to stop your 401(k) deductions (pre-tax or Roth) at the yearly IRS contribution limit of $23,500 for 2026 (or $31,000 if age 50–59 & 64+, $34,750 if age 60–63), contact HRHelpdesk. Based on the information you provide, we’ll ensure you do not exceed the annual IRS limits.
Does the company match contributions?
Yes! Lucid matches 50% of your contributions on the first 4% of your eligible pay (salary and annual performance bonus). That means we contribute $0.50 for every $1 you contribute, up to 4%.
So, if you contribute 4% of your annual salary, your 401(k) ends up with 6% invested.
| Employee Contribution | Maximum Company Matching Contribution |
|---|---|
| At least 4% of Eligible Pay | 2% of Eligible Pay |
Is the company match vested?
Yes. You own 100% of all matching funds immediately.
What is a “true-up” contribution/annual match process?
The annual true-up match ensures you receive the full company match you’re entitled to for the entire year, even if your contributions fluctuated or you reached compensation limits during certain pay periods. Contact HRHelpdesk for the True-Up Annual Process guide with examples.
Are there character limits for names in the Fidelity 401(k) system?
What happens if my name is longer than the character limits?
Enter your legal name up to the point where the character limit cuts off.
Will there be an issue when processing a distribution if my name is cut off?
No. As long as your SSN, date of birth, and name (up to the character limit) match your legal information, there will be no issue.
How do I change or elect my deferral percentage for my salary?
You can change your election anytime during the year. Even without a qualifying life event. Follow the instructions below.
Does Lucid match my Roth contributions to the 401(k) Plan?
Yes. Lucid matches your Roth contributions, and the Company Match is considered a pre-tax contribution. You will have to pay taxes on the Company Match when it is withdrawn.
Can I take a loan or withdraw early?
Yes. You can take a loan from your 401(k), and you can take money out if you retire, leave the company, become disabled, turn 59½, need to meet required minimum distributions (RMDs), or have a serious financial hardship.
Note: Hardship withdrawals can only come from the money you put in, not the company match. You can initiate the process with the Fidelity customer service team via your Netbenefits account.
How/where is my 401(k) invested?
The 401(k) plan (offered through Fidelity) allows you to select an investment option of your choice by logging into Fidelity at www.netbenefits.com. If you enrolled in the 401(k) plan but did not actively make an investment election, you will be invested in the Fidelity Freedom Index target-date fund that corresponds with your year of birth. For more information, log into your account at www.netbenefits.com.
You can now invest outside of the Lucid monitored investment lineup through a Self-Directed Brokerage Account.
Where do I go to change my investment options within the existing Lucid lineup?
How can I track the performance of my 401(k) investment?
How do I roll over my retirement account from my prior employer into the Lucid plan?
Note: Roth 401(k) rollovers (from a qualified employer-sponsored plan) are allowed. Traditional IRA rollovers are allowed. Roth IRA rollovers are not allowed.
Who pays the administrative fees for the 401(k) plan?
Plan administrative fees are charged for the necessary day-to-day services to operate the Lucid Motors 401(k) Plan, such as recordkeeping, accounting, legal, and trustee services. Lucid pays the plan administrative fees for the active participants only.
What is a Self-Directed Brokerage Account (SDBA)?
Lucid allows employees to invest in offerings outside the Lucid plan’s current investment funds. Fidelity’s BrokerageLink® provides you with the opportunity to select from thousands of mutual funds and other investment options—beyond those offered directly through Lucid’s retirement plan (referred to as the standard/core plan options).
If you decide to enroll in a Self-Directed Brokerage Account, remember that the plan fiduciaries neither evaluate nor monitor the investments available through BrokerageLink, so it’s your responsibility to ensure the investments you select are suitable for your situation, including your goals, time horizon, and risk tolerance.
Restrictions: You can invest up to 95% of your 401(k) balance in a Self-Directed Brokerage Account.
How do I sign up?
To utilize this feature, you must first open a separate brokerage account within the plan. If you have questions or would like to open an account, please log on to Fidelity NetBenefits at www.netbenefits.com or call 800-835-5097. Once you have opened an account, you may access, monitor, or change investments by contacting Fidelity.
Who monitors the funds?
The plan fiduciaries neither evaluate nor monitor the investments available through BrokerageLink. It is your responsibility to ensure the investments you select are suitable for your situation, including your goals, time horizon, and risk tolerance.
Are there fees?
When you access your BrokerageLink account, there is additional information regarding available investment choices, which you should read before making any investment decisions. If purchasing a mutual fund through BrokerageLink, mutual fund minimums generally still apply. Prior to initiating a trade in your BrokerageLink account, you should review any fees associated with your transaction. Before investing in any mutual fund, consider the investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
Where can I find educational material?
You can find educational information, plan documents, watch videos, and complete a number of online transactions via www.netbenefits.com, including transfers to and from your BrokerageLink account.
Are there any other resources to help me optimize my wealth plan?
Fidelity provides a wealth of planning resources. Log into Fidelity at www.NetBenefits.com for:
Where can I learn more or make changes?
Visit Fidelity NetBenefits or call Fidelity at 800‑835‑5097 (Mon–Fri, 8:30 a.m. – 8 p.m. ET).