diff --git a/handbook/company/communications.md b/handbook/company/communications.md
index cbe8ef86c5..cf15f119d5 100644
--- a/handbook/company/communications.md
+++ b/handbook/company/communications.md
@@ -825,7 +825,7 @@ Fleet gives new parents six weeks of paid leave. After six weeks, if you don't f
 
 ### Retirement contributions
 
-**US based team members:** Starting August 2023, Fleet offers the ability for US based team members to contribute to a 401(k) retirement plan directly from their salary. Team members will be auto-enrolled in our plan with Guideline at a default 1% contribution unless they opt out or change their contribution amount within 30 days of commencement. Fleet currently does not match any contributions made by team members to 401(k) plans.
+**US based team members:** Starting August 2023, Fleet offers the ability for US based team members to contribute to a 401(k) retirement plan directly from their salary. Team members will be auto-enrolled in our plan with Guideline at a default 3% contribution unless they opt out or change their contribution amount within 30 days of commencement. Auto-enrolled employee’s contributions will increase by 1% every year, on January 1, until 10% is reached. Fleet currently does not match any contributions made by team members to 401(k) plans.
 
 **Non-US team members**: Fleet meets the relevant country's retirement contribution requirements for team members outside the US.