Rolling Money into the News Corp 401(k) Plan
The Plan allows money to be “rolled over “ into your News Corp 401(k) account from many types of qualified retirement plans including 401(k), 403(b), governmental 457 Plans; IRAs (conduit and non-conduit), SEP-IRAs, and SIMPLE IRAs. The Plan accepts pretax and Roth 401(k) contributions.
Follow these steps, in this order:
1. Contact the institution where the money is coming FROM — your prior 401(k) administrator, IRA provider, etc.
2. Request a “rollover distribution” check paid to “Fidelity Investments Institutional Operations Company (or FIIOC) for the benefit of <Your Name>.” This will prevent taxes from being deducted.
- You will need to obtain a physical check from this previous institution to execute the rollover, even if your old retirement account is with Fidelity.
3. Once you have the check from the previous institution:
- Log on to netbenefits.com
- From the “Quick Links” dropdown menu, select Rollover
- Follow the prompts to move money into the plan
- Once you have the check from the prior institution, be sure it is invested in your News Corp 401(k) within 60 days.
- At tax time, you will receive a tax form 1099-R to include with your tax filing — it is proof of your rollover, with no taxes due.
For more information about rolling over funds into your News Corp Fidelity account, please contact 800-278-4015 or visit netbenefits.com.