Parexel is committed to supporting your financial well-being — today and tomorrow. The Parexel Retirement Savings Plan, administered by Fidelity, helps you prepare for retirement by offering an easy, tax-advantaged way to save for your future financial needs. Setting aside as much as you can during your working years can greatly improve your quality of life later.
Contribute up to IRS limits (for 2024, $23,000; an additional $7,500 catch-up contribution is allowed if age 50 or older).
Choose to make before-tax contributions and/or after-tax Roth contributions, deducted from your paycheck.
Receive a discretionary company match of 100% of the first 3% of your contributions and 50% of the next 3% to a maximum match of 4.5% in those pay periods in which you contribute.
You are 100% vested in Parexel’s matching contribution after completing 3 years of service.
Choose from a variety of investment options.
You may enroll in the plan or change your deduction percentage at any time by visiting Fidelity or calling 1-800-835-5097. Please review the Plan SPD for eligibility requirements.
Meet the match!
Are you making your money work as hard as you do? Try to contribute at least 6% to take full advantage of the match — otherwise, you’re leaving free money on the table.
Manage your account
Visit the Fidelity website to enroll or manage your account:
Enroll in the plan
Check your balance
Change your contribution rate
Manage your investments
Update your beneficiary
Use planning tools and calculators
Access forms and documents
After 30 days at Parexel, if you have not enrolled in the plan, you will be automatically enrolled with an initial election to save 3% of your before-tax pay. Your contribution rate will automatically increase by 1% each year. Your contributions will be invested in the target-date fund most appropriate for your age. You may change your contribution and investment elections at any time by contacting Fidelity.
Be sure to name a beneficiary
It’s important to designate a beneficiary to receive the value of your 401(k) account in the event you die before beginning to receive your benefit. As personal circumstances change, be sure to keep that information up to date. Visit the Fidelity website to add or change a beneficiary. Please note, the life and AD&D insurance beneficiary information you complete within the Mercer Marketplace 365+ website is not used for the 401(k) plan.
Catch up!
It’s not too late to make up for lost time. If you’ll be 50 or older this year, take advantage of the opportunity to contribute additional dollars up to the IRS limit (for 2024, $7,500 is allowed).
Before investing, carefully consider the funds’ or investment options’ objectives, risks, charges, and expenses. Call 1-800-835-5097 for a prospectus and, if available, a summary prospectus or an offering circular containing this and other information. Please read them carefully. Investing involves risk, including the risk of loss.