401(k) Savings Plan Highlights
- Flexible savings opportunities through traditional pretax or Roth contributions, or a combination of both
- Access to professionally managed investments
- Access to experienced retirement services professionals through Fidelity — to help get you on the right track to reach your retirement goals
- Employees are eligible after 3 months of service
Annual Contribution Limits
You can contribute from 1% to 100% of your eligible compensation to your 401(k) pre-tax and/or Roth 401(k), up to IRS limits.
For 2024, the IRS maximum limits are:
- Pre-tax 401(k) & Roth 401(k) (combined): $23,000
- Catch up contribution (age 50+): An additional $7,500
To max out your contributions for the year you need to divide the total maximum contribution allowed ($23,000 if under age 50) by your salary. For example, if you were employed for the entire year and had an annual salary of $75,000, you would divide $23,000 by $75,000 which would equal 30% deferral contribution for each paycheck. If you start later in the year or your pay changes, you will need to adjust your contributions as appropriate.
Matching Contributions
Salesloft provides a matching contribution towards your retirement when you contribute! And you’re 100% vested after one year of service (from your date of hire).
Salesloft matches:
- 100% of the first 2% you contribute
- 50% of each 1% you contribute for the next 4%
This means that when you contribute 6% of your W-2 earnings each paycheck, Salesloft will provide a 4% matching contribution for that paycheck. To receive the full employer match, you must make contributions each pay period as employer matches are provided on a per pay period basis. Please note, the Plan does not have a year-end true-up contribution for matching contributions.
