An account is automatically created for you. You simply need to activate your account and select a contribution amount. You can change your contribution amount anytime during the calendar year.

*Important note* If you have already contributed to another employer's 401(k) this calendar year, please tell the Payroll Department how much you contributed year to date. They will cap your contributions to Marvell's 401(k) so you do not exceed the annual limit. 

New Hires Can Register a 401(k) Account the Monday After Your Hire Date:

You have 3 options to access your 401(k) account with Charles Schwab: via OKTA SSO, directly via workplace.schwab.com, or by downloading the app and clicking on the Register Now link above the Plan Participant Login box. You will be asked to provide your SSN, Date of Birth, and Home Address Zip Code.

• If you do not login to your 401(k) account within 30 days, you will be automatically enrolled at a 6% pre-tax contribution rate.
• If you do not wish to be automatically enrolled, login to your account within 30 days of your hire date and select a contribution rate of 0%. 
• New hires have 90 days to withdrawal from auto-enrollment and request a refund. 

Maximizing the Marvell Match

To maximize the employer match in your first year, it’s important to understand the amount of match for which you are eligible. The match calculation uses the amount you are actually paid throughout the course of a calendar year and not your annual salary.

Use this formula to determine your eligible match:

(Actual Pay in the year you are hired) x 5% = Eligible Match
Once you have determined your Eligible Match, make sure you contribute at least that amount into your 401(k) account before the end of the calendar year in order to maximize the employer match, up to $5,000. 

Choose Your Beneficiary:

You can select one or more primary beneficiaries who will receive money from your account in the event of your death. You can also pick one or more contingent beneficiaries to receive the proceeds if no primary beneficiary survives. Go to workplace.schwab.com to enter the information. 

Match Formula: Marvell will match 100% of 5% of your eligible salary contributed, to the max of $5,000 annually. 

How it Works: Marvell will match 5% of your salary when you contribute, up to $5,000 annually. The match is funded at the end of each calendar year quarter, up to $1,250/quarter. Employees must be active on the last day of the quarter in order to receive the company match, which will be deposited 30-45 days after the end of the calendar quarter.

The match is NOT applied to Catch-Up contributions or After-Tax contributions. It only applies to the first $23,500 that you contribute. 

Match True-Up Feature: With the match true-up feature, you always get the maximum match from Marvell that you are eligible for, regardless of when you start or stop contributing during the year. The true-up is calculated and paid after the end of each calendar quarter.

Examples of Marvell's Employer Match:

There are four ways to save for tax-free money for your retirement. You can choose to contribute different amounts from your bi-weekly pay and your annual bonus. Log in to your account at workplace.schwab.com and select Change Contribution from the Manage Account tab.

Exciting news for those nearing retirement! Beginning in 2025, a new plan feature through the 2022 SECURE 2.0 Act allows you to contribute more to your retirement savings.

What You Need To Know

Within the calendar year that you turn 60, 61, 62, and 63, you can contribute an additional 50% of the traditional catch-up limit into your retirement plan -- up to $11,250 per year of catch-up contributions. This means that in 2025, you can increase your 401(k) retirement savings catch-up contributions by an extra $3,750, bringing your total contribution limit to $34,750.

The increased limit will adjust annually for inflation to help you keep pace with the rising cost of living. Give yourself an opportunity for more financial flexibility in retirement by maximizing your contributions.

Your Next Steps

Log into your account and review your contribution settings. There is no separate election necessary to take advantage of the increased catch-up, but you will want to ensure your current election will allow you to take advantage of the increased contribution amount.

Questions?

If you have questions about your eligibility or need assistance, call Schwab at 800-724-7526, Monday through Friday, from 8 a.m. to 10 p.m. ET. 

Note: starting in 2026, individuals earning over $145,000 (W2 income) during the previous year any catch-up contributions made must be done on an after-tax Roth basis the wage threshold will be adjusted annually for inflation.

The way you invest in your 401(k) account is completely up to you. This includes not only your contributions but also Marvell's matching contributions and any amount that you roll over from another account. You can select from Target Date funds, Plan Selected Funds or use the Personal Choice Retirement account.

If you are automatically enrolled in a 401(k) plan, your contributions are invested in the Schwab Target Date Fund that most closely matches your anticipated retirement at age 65. Marvell offers a variety of investment funds. You should select the funds that are the best fit for your abilities and needs. 

Target Date Funds

Is this Fund Right for Me? If you want the ease of a single investment option and if you can approximate the year you want to retire, you may be a good fit for a target date fund. Investing in a target date fund enables you to direct your contributions into a single fund, from the time you begin to save until you retire. Investment allocations in these professionally managed portfolios become more conservative as the target retirement date nears.

How Does it Work? When you enroll, select a fund that best matches your expected retirement date, as well as other factors important to you. Keep in mind: 

• The mix of investments shifts from more aggressive to more conservative over time.
• You should review your investment selection at least annually to ensure you remain on track with your goals.

Plan-Selected Funds

Is this Fund Right for Me? Do you enjoy researching and choosing investments? Do you have time to manage your account at least once a year? If so, you may want to invest on your own with Plan-Selected Funds. Marvell has chosen an array of investments to give you a diverse range of choices. 

How Does it Work? First, determine your risk tolerance. You will also find a variety of tools and resources to help you at workplace.schwab.com, including the Investor Profile Questionnaire. Keep in mind, you will need to:

• Conduct research as needed, using the many tools provided, to help you analyze and choose among the Plan's managed funds. 
• Decide what percentage of your contribution should go to each fund. 
• Review additional information about each mutual fund in the plan by visiting workplace.schwab.com or calling 1-800-724-7526.

Personal Choice Retirement Account (PCRA)

Is this Fund Right for Me? Are you a knowledgeable, experienced investor with the time and interest to conduct your own research and decide how to invest? Do you have time to review your decisions at least annually? If so, a Schwab Personal Choice Retirement Account® (PCRA)* may be the strategy for you. PCRA is a brokerage account you manage yourself that provides access to more investment choices than are otherwise available in the Plan.

How Does it Work? You must complete a PCRA application at workplace.schwab.com under Manage Account tab. Once your PCRA is approved and opened, you may transfer any portion of your funds from existing Plan investments to your PCRA. Keep in mind:

• You can take advantage of the many online tools to help you search and analyze investment opportunities.
• You can place trade orders in your PCRA online through schwab.com or by calling a Schwab PCRA Representative at 1-888-393-7272.
• You can also learn more by reviewing this PCRA fact sheet. 
• Watch this video on how you can get started with a PCRA. 

Your Plan supports your journey to retirement with a range of financial planning tools and educational resources available, including:

My Retirement Progress: An interactive tool available on the home page of your Schwab account that helps you review progress toward your savings goal and compare the retirement income you may need with the estimated income you may have, based on your current savings approach. 

Retirement Manager with MorningStar: An online tool that helps you calculate your target retirement income goal, personalized recommendations on how much to save, and investment fund selections based on your goals. Go to workplace.schwab.com > Advice tab at the top > Retirement Plan Advice >  Plan Advice at the bottom of the screen. These steps will take you to the location to launch the MorningStar tool. 

Personal Consultation with Charles Schwab: Schedule a call with a Retirement Advice Consultant for a personalized review of your account and recommendations to help you maximize your retirement goals. Go to workplace.schwab.com to schedule your appointment. 

Personal Consultation with SageView: Schedule a personal financial consultation with a licensed advisor, Eric Weisman,  from SageView Advisory Group, investment fiduciary to the Marvell 401(k) Plan. Get help with topics including investment allocation advice, retirement income projections, tax reduction strategies, company stock awards, risk mitigation strategies, college planning, estate planning, and more. Contact Eric via email (eweissman@sageviewadvisory.com) to set up your appointment.

Tools and Resources: Calculators, on-demand videos, webcasts, and articles are all available from Charles Schwab to assist you in making the most of your retirement savings journey. A Marvell Educational 401(k) Guide is also available for download. 

To initiate a 401(k) rollover to Marvell's plan through Schwab, please complete the online rollover process through your Schwab portal via SSO or visiting workplace.schwab.com. During this process you can review your rollover options as there are several important factors to consider. Watch this video to learn more about why you may want to rollover your 401(k) account. 

To get started login to your Schwab account via SSO or visiting workplace.schwab.com and follow the steps below if you are moving your money to the Marvell plan.

• Select Manage Account at the top of the homepage
• Click on Rollover Contributions
• Select Get started to find instructions to request your direct rollover check.
• Next, select Add rollover details to fill out the online form 
• Select Submit to give Schwab Retirement Plan Services, Inc. the consent to process your request.

To move funds from Marvell's 401(k) to another financial institution, please consult your financial institution for instructions. You can then contact Schwab at 1-800-724-7526.

Your beneficiary designation lets Schwab Marvell know who should receive the balance of your account in the event of your death. That’s why it’s so important to designate a beneficiary(ies) and keep your election current. To enter your beneficiary designation, log into your account at workplace.schwab.com and go to My Profile > Beneficiaries.

Loans

You may borrow up to a maximum of 50% of your vested account balance or $50,000, whichever is less. The minimum loan amount is $1,000. You may have two outstanding loans at a time. The maximum term for a general loan is 5 years, and 10 years for a residential loan. Set-up fees may apply. For more information, log in to workplace.schwab.com, go to My Account, and select Loan Inquiry, or call Participant Services at 1-800-724-7526.

Withdrawals

There are certain restrictions on when money may be withdrawn from your account. You may take money out of your account under the following circumstances:

• Upon reaching age 59½
• Under eligible financial hardship circumstances while still employed
• Upon retirement, total and permanent disability, or termination of service

You must pay any applicable income tax. Penalties may apply. In the event of your death, your vested account balance will be paid to your designated beneficiary or beneficiaries. For more information about your withdrawal options, call 1-800-724-7526.

Visit https://gateway.on24.com/wcc/eh/1824464/schwab-participant-webcasts to view Charles Schwab webcast series.