The plan offers an automatic contribution increase option that allows you to schedule future increases in the amount you contribute. You choose a target contribution rate and an annual increase. For example, if you want to increase your savings from 8 percent to 14 percent, you could schedule your contribution rate to automatically increase by 2 percent per year. After three years, you would reach your goal of 14 percent. You can’t set a limit, or cap, to your annual contribution increases, so you’ll need to monitor them yourself. Automatic contribution increases will stop if you reach the plan limit of 75 percent of your pay.

You choose a time during the year when your automatic increase will occur. Annual increases will continue until you stop or change your election. Regardless of your contribution rate, contributions stop immediately if you reach the annual IRS limit during the year.

To sign up for the automatic contribution increase option, log on to your account and select Contribution Amount or contact Fidelity through the HR Service Center.