Overview
How do I access my account?
Within NetBenefits®, you have access to your account information, retirement planning tools, and e-Learning
workshops® that provide you access to self-paced training on savings and investing principles. You may call
the Retirement Benefits Line at 1-800-835-5097 between 8:30 a.m. and 8:00 p.m. on any business day when the
New York Stock Exchange is open. Fidelity Representatives can assist you with transactions and answer many of
your questions regarding retirement savings.
How do I learn more?
Within NetBenefits®, you have access to your account information and retirement planning tools including:
• Live and self-paced learning workshops. The workshops cover a variety of topics including determining your
retirement savings needs, evaluating your investment options and keeping your investment strategy on track to
help you achieve your retirement goals. In addition, you can take advantage of local Investor Centers by
scheduling time with a Fidelity Representative to discuss your total investment needs beyond your retirement
savings plan. Or, if you prefer, call 1-800-Fidelity for a complimentary portfolio review.
How do I manage my account?
Within NetBenefits®, you may sign up to receive alerts via email when your retirement savings account strays
from the investment allocation you established. To update your beneficiary information, go to the Profile section
within NetBenefits® and enter your beneficiary information at any time. Model Portfolios. The Model Portfolio
Recordkeeping Service (MPRS) is an investment management service offered under your Plan. Under MPRS, your
eligible account balance and any future contributions will be invested according to the asset allocation strategy
of the model portfolio in which you are invested. Model portfolios are composed of some or all of your plan's
investment options and are a method of allocating your account among those investment options. The asset
allocation of each model portfolio is determined by MRP, a designated investment manager of the Plan. In
addition, the asset allocation of the model portfolio may be adjusted periodically by MRP. Fidelity Investments is
not responsible for the construction or management of model portfolios and is not affiliated with MRP. To enroll,
un-enroll, or request additional information, please contact Fidelity.For additional questions regarding model
portfolios, you may also contact MRP, your Plan's designated investment manager, at 801-260-2285.
Eligibility
When am I eligible for the Plan?
Please refer to your Summary Plan Description for more detailed information regarding eligibility to participate in
the plan.
Investing
How do I change my investment options?
You can make changes to your investment selections within NetBenefits® or by calling the Retirement Benefits
Line at 1-800-835-5097.
Create an asset strategy that's right for you:
• Visit the Library section within NetBenefits®
Loans
Can I take a loan from my account?
Although your plan account is intended for your retirement, you may take a loan from your account.
You can also learn about loans online or call 1-800-835-5097.
Withdrawals/Distribution
Withdrawals from the Plan are generally permitted in the event of termination of employment, retirement,
disability, or death. You may also be eligible for a withdrawal in the case of a severe financial hardship as defined
by your Plan. You may request or learn more about withdrawals online or call 1-800-835-5097.
Rollovers
Can I move money from another retirement plan into this one?
You may be permitted to roll over eligible contributions into this Plan from a previous employer's retirement plan.
For other eligible account types, please see your Summary Plan Description. Once you have confirmed that your
Employer will accept your rollover contribution, you can get started in the "Rollovers" section online. Be sure to
consider all your available options and the applicable fees and features of each before moving your retirement
assets.
Enrollment
Participating in the Plan
There are many benefits by participating in the Extra Space Management, Inc. 401(k) Plan. One of the primary
benefits is that you will receive help reaching your financial goals for retirement. If you participate in the plan,
you can then take advantage of the matching contributions Extra Space is willing to provide you. You will also
have access to many financial wellness resources that Fidelity offers as you plan your financial future
When am I eligible for the Plan?
You are eligible to participate in the Plan if you are an Extra Space employee in the United States (not Puerto Rico)
and meet the following criteria:
Contribution type | Age Requirement | Service Requirement | Entry Date |
All Source years | 18 | 90 day(s) | First day of each month |
Upon reaching 90 days of service, you will receive an email in Workday explaining your eligibility to the 401K Plan
and giving you information how to access the Plan online. Fidelity will also mail information to you at your home
address.
How do I enroll?
To enroll, visit the Fidelity website online at www.401k.com. Click the ‘Get Started’ tab and follow the online
instructions to enroll and activate your account. With your account activated, you can make your contribution
election and choose what fund(s) you want to participate in. You can also set up your beneficiary information by
going to Fidelity online at www.401k.com, or calling Fidelity Customer Service at 1-800-835-5097 to request a
Designation of Beneficiary form to fill out and return to Fidelity.
When is my enrollment effective?
Once you satisfy these requirements you will be eligible to participate in the Plan on the first day of the following
month. You can make changes to your contributions and plan investments through www.401k.com.
Contributions/Catch-up
How much can I contribute?
Through automatic payroll deduction, you may contribute between 1% and 60% of your eligible pay on a pretax
basis, up to the annual IRS dollar limit (2021 = $19,500). You may change your deferral percentage as applicable
on the first day of each month.
In addition, you can automatically increase your retirement savings plan contributions each year through the
Annual Increase Program. To sign up, access the Contributions section within NetBenefits®, or call the plan's
toll-free number.
If you are age 50 or over by the end of the taxable year and have reached the annual IRS limit or Plan's maximum
contribution limit for the year, you may make additional salary deferral contributions to the Plan up to the IRS
Catch Up Provision Limit (2021= $6,500).
The Roth 401(k) contribution option is available to you. A Roth 401(k) contribution to your retirement plan allows
you to make after-tax contributions and take any associated earnings completely tax free at retirement.
You can change your contribution amount at any time online or call 1-800-835-5097.
Does the Company contribute to my account?
Your employer will make Safe Harbor matching contributions to your account based on your pretax contributions.
The amount will equal:
— 100% of the first 3% of your eligible compensation contributed to the Plan
— 50% of the next 2% of your eligible compensation contributed to the Plan
*Please note that the Safe Harbor matching contribution is calculated and contributed on the amount that you
contribute each pay period. For more information about how the match is calculated, please ask the Plan
administrator for details.
To be eligible for matching contributions you are required to:
• make employee pretax deferral contributions or Roth 401(k) after tax deferral contributions. The plan will match
on the combined total of these contributions up to the matching limit.
In some Plan Years, your Employer may choose to make an additional discretionary matching contribution to your
account. The amount would be determined at Plan Year end by a Board of Directors' Resolution.
To be eligible for additional discretionary matching contributions you are required to:
• make employee pretax deferral contributions or Roth 401(k) after tax deferral contributions. The plan will match
on the combined total of these contributions up to the matching limit.
For purposes of determining your matching contributions under the Plan, your pretax contributions will include
Age 50 and over Catch-Up Contributions described above.
How does the Extra Space 401K match work?
Extra Space provides a match to your 401K contributions up to 5%. That 5 % is matched at 2 different rates, here
is how it all works.
We'll use $100,000 as your earned income from Extra Space just to make the math easy.
*Please note that while the below examples are simplified by using annual salary, the Safe Harbor matching
contribution is calculated and contributed on the amount that you contribute each pay period. For more
information about how the match is calculated, please refer to the Plan’s Summary Plan Description or ask the Plan
administrator for details.
Example 1: You contribute 5% of your $100,000 income to your 401K.
Your first 3% will be matched 100%, the other 2% will be matched 50%.
Example 2: You contribute 4% of your $100,000 income to your 401K.
Your first 3% will be matched 100%, the other 1% will be matched 50%.
Example 3: You contribute 2% of your $100,000 income to your 401K.
Your 2% will be matched 100%.
Example 4: You contribute 10% of your $100,000 income to your 401K.
Your first 3% will be matched 100%, the other 2% will be matched 50%.
The remaining 5% is not matched but still contributed to your 401K account.