How it Works
Your 401(k) plan is a significant part of your Trane Technologies benefits package—designed to help you live comfortably in retirement. How? Your plan helps you to invest some of what you earn today for your future goals.
Why Save?
It’s easy. You can make contributions directly from your paycheck. Simply choose how much you want to save, and Trane Technologies takes care of the rest.
It’s like “free” money. Trane Technologies makes Matching and Core contributions up to 5% of your Eligible Compensation.
You can save on taxes. When you make pre-tax contributions, you could potentially lower your taxable income for the year.
Your money can grow. Any investment returns can compound and help your savings increase.
Plan Details
Eligibility
Employees of Trane Technologies who are represented by a union that participates in the Company-sponsored 401(k) plan and have satisfied the eligibility requirements described in their bargaining agreement are eligible to participate.
Automatic Features
The 401(k) plan is designed to help you save over time. Depending on the design of your union plan, you may be automatically enrolled at a specified pre-tax contribution rate if you don’t enroll when you first become eligible.
Employee Contributions
Eligible employees can contribute up to 50% of their Eligible Compensation (generally, wages and overtime pay) to the 401(k) plan directly from their paycheck on either a pre-tax, after-tax or Roth basis, up to IRS limits. You can also review your Summary Plan Description for more details about how to contribute to the 401(k) plan. There are three contribution types available:
- Pre-tax contributions. Your pre-tax contributions are deducted from your pay before income taxes are taken out. This means that you can actually lower the amount of current income taxes you pay each period by making pre-tax contributions. You’ll pay taxes on these contributions and on any investment earnings when you make a withdrawal.
- After-tax contributions. These are deducted from your pay after income taxes are taken out, but you may owe taxes on any earnings.
- Roth contributions. These are deducted from your pay after income taxes are taken out. Earnings are not taxable if taken in a qualifying distribution when you retire. A distribution of Roth account balances will be qualified if it occurs five years from the first of the calendar year in which the first Roth contribution was made and one of the following conditions has been met: age 59½, disability, or death.
The IRS limits employee pre-tax and Roth contributions to the ESP to $24,500 in 2026. If you are age 50 or older in the calendar year, you can make an additional catch-up contribution of $8,000 in 2026. You can now make higher catch-up contributions up to $11,250 if you will be age 60–63 in 2026. The total amount both you and Trane Technologies can contribute in 2026 is $72,000 ($80,000 if you’re age 50 or older, or $83,250 if you’re age 60-63). This includes pre-tax, after-tax, Roth and company contributions.
New for 2026: If you’re eligible for catch-up contributions (age 50+) and if you made more than $150,000 in FICA wages* from Trane Technologies in 2025, your catch-up contributions must be made as Roth (after-tax). For more details and how this applies to you, see the Roth Features FAQs.
* The FICA wage threshold is indexed for inflation and may change each year.
Company Contributions
Trane Technologies offers two types of company contributions: Matching and Core contributions.
- Matching contributions. Trane Technologies matches a portion of your Eligible Compensation that you contribute—it’s like getting "free" money. Depending on your plan, company matching contributions may not vest until you have completed three years of service.
- Core contribution. In addition to the Company matching contribution, participants in the Plan also receive an additional core Company contribution. This is a non-matching contribution. If you are eligible to participate in the Plan, the core Company contribution is made to your Plan account regardless of your own contribution level. Depending on your plan, the core Company contribution may not vest until you have completed three years of service or, if earlier, your death, becoming disabled or attainment of age 65 while employed.
When you consider the Matching and Core contribution together, participants can receive up to 5% of their Eligible Compensation in contributions from Trane Technologies.
Investment Options
The 401(k) plan offers investment options with investing approaches for all types of investors, from those who prefer to make their own investment elections from available investment options to those who prefer to elect an investment option designed to align with their retirement date—Target Date Funds. You can choose from an array of available investment options based on your personal goals and risk tolerance.
Target Date Funds are designed for investors expecting to retire around the date indicated in each fund’s name. The investment risk of each Target Date Fund changes over time as its asset allocation changes. Target Date Funds are subject to the volatility of the financial markets, including equity and fixed income investments in the U.S. and abroad, and may be subject to risks associated with investing in high-yield, small-cap, and foreign securities. Principal invested is not guaranteed at any time, including at or after their target dates. Go to Fidelity NetBenefits for more information about the Target Date Funds available to you.
Want some help with deciding which investment options that are right for you? Contact the Trane Technologies Service Center at 1-866-294-7263. Target Date Funds are the default investment option for the 401(k) plan. They are “lifetime strategy” funds that offer a streamlined way to invest in a single diversified fund based on your expected retirement year.
Additional Resources
Looking for more details about the 401(k) plan? Check out these resources:
- Read the Plan Highlights for a high-level overview of the 401(k) plan.
- Review your Summary Plan Description (SPD) for an in-depth description of all 401(k) plan features. To view your SPD, log in to NetBenefits and select the 401(k) plan. From there, navigate to Plan Documents and select the SPD aligned with your union.
- Visit NetBenefits to view or make changes to your account and access a variety of helpful resources and tools.
How to Begin Investing for Retirement
In this workshop, you’ll learn some key investing concepts, explore common asset classes, and examine the importance of asset allocation and diversification. You’ll also learn different investment approaches to help you align with your goals, risk tolerance, and timeline when saving for retirement.
What's Next
Register for a 1:1 Session
Sign up to speak with a Fidelity representative to discuss your contribution options and decide on a plan that’s right for you.
Register or Manage Your Account
Register your 401(k) account or make changes to your contribution or investment elections at Fidelity NetBenefits®.
Designate Your Beneficiary
With Fidelity’s Online Beneficiaries Service, you can designate your beneficiaries, receive instant online confirmation, and check your beneficiary information virtually any time.