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 | $24,500 |
| Age 50-59 or 64+ “Catch-Up” Limit* | $8,000 |
| Age 60-63 Additional “Catch-Up” Limit* | $11,250 |
*See Lucid Motors 401(k) Plan FAQs for more information
Lucid will match your 401(k) contribution at 50%, up to first 4% of your salary, commissions 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 |
|---|---|---|
| Employees are eligible to participate immediately upon their date of hire. However, interns must wait until they work 1000 consecutive hours before they can participate. | Lucid will match your 401(k) contribution at 50%, up to first 4% of your eligible pay. | You will automatically be enrolled at 5% pre-tax on the first full pay period after 35 days of employment. |
| Immediate Vesting | Investment options | Beneficiary Designation |
| You’re 100% vested immediately. Any match is yours to keep, even if you leave. |
There are fifteen (15) individual funds plus target date funds.
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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 800-835-5095 (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
After you leave Lucid, 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 age 59 ½. If you’re 55 or older, you may avoid the 10% penalty thanks to the “age 55 rule”.
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 netbenefits.com or the NetBenefits app.
Get the most out of your 401(k). This recorded NetBenefits overview walks you through key features, tools, and tips to help you feel confident managing your retirement account.