FASTLY, INC. 401(K) PLAN Contribution & Employer Match
FASTLY, INC. 401(K) PLAN Contribution & Employer Match
FASTLY, INC. provides the following retirement savings benefits to its employees:
FASTLY, INC. 401(K) PLAN Average Participant Retirement Account Value
FASTLY, INC. 401(K) PLAN Estimated Average Employee Contribution Amount
812,807.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 12,700.00 in FASTLY, INC. 401(K) PLAN, assuming a 10%* annual return.
2023 & 2024 401(k) contribution limits by IRS
| Pretax and roth employee contributions | Employee and employer contributions combined | Catch-up contributions (in addition to the employee and employer combined limit, age 50 and over) | |
|---|---|---|---|
| 401(k) contribution limit for 2023 | $22,500 | $66,000 | $7,500 |
| 401(k) contribution limit for 2024 | $23,000 | $69,000 | $7,500 |
$1,440,056: this is the amount you will have saved 20 years later if you contribute the maximum of $22,500 annually for 20 years, assuming a 10%* annual return.
$4,224,165: for those who can maximize employee and employer annual $66,000 contributions for 20 years, assuming a 10%* annual return, you will be 3 times richer!
Use the 401(k) Savings Calculator to determine how much your contributions will accumulate over time.
Employer match in FASTLY, INC. 401(K) PLAN
An employer match is deemed as ‘free’ money wherein your employer contributes additional funds to your allocated retirement savings plan. The matching amount can frequently be several percentage points of your compensation. Don’t avoid this free salary ‘raise’.
FASTLY, INC. 401(K) PLAN Total Employer Contribution and Match Rate
FASTLY, INC. 401(K) PLAN Estimated Average Employer Match
Investing in this additonal $846.00 for 20 years would give you extra $54,150.00, assuming a 10% annual return.
FASTLY, INC. 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Participants may elect to contribute up to 100% of their eligible compensation subject to the maximum allowed under section 401(k) of the Internal Revenue Code.
2. Employer Match/Contribution Conditions: The Company matches 100% of the participant's contributions up to a maximum of $1,000.
3. Vesting Schedule/Eligibility: Participants become immediately vested in their contributions and employer matching contributions vest 100% upon employment. Eligibility requires employees to be at least eighteen years of age and excludes certain employees.
4. Roth 401(k) Contribution: Participants may designate a portion or all of their contributions as Roth contributions.
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