Retirement

401(k)

Contributing to a 401(k) is one of the best ways to prepare yourself for a great retirement and a secure future. All employees 21 years and over are eligible to participate on the first day of the month following one month of employment. For 2022, employees may contribute up to $20,500. If you’re age 50 or older in the calendar year, you can contribute an additional $6,500.

You choose where you want your investments to go, from conservative to aggressive funds, so you can maintain a truly diversified investment portfolio. You should review your retirement goals to ensure your contribution matches your target retirement income.

Keep in mind that you can set aside funds either pre-tax or after-tax (Roth), or a combination of both. If you elect Roth, your election amount is contributed on an after-tax basis, grows tax-deferred, and can be withdrawn tax-free at retirement.

In addition to contributing to the 401(k) through regular pre-tax and/or Roth contributions, you may now make additional after-tax contributions above the IRS limits.

  • The limit on total contributions from both the employee and employer in 2022 is $61,000, or $67,500 for those aged 50 or older.

Contributions

To support you in your retirement goals, Alteryx matches $0.50 per $1.00, up to 6% of salary per pay period. You are eligible to contribute up to the IRS Limit of $20,500. Personal contributions are added to your account through convenient payroll deductions.

Helpful Tips on Saving for Retirement

  • Start saving as soon as possible to grow your retirement account.
  • Begin with small contributions, if necessary, and increase contributions over time.
  • Make setting aside money for retirement a habit.
  • Understand investment returns may fluctuate.
  • Let it sit. Avoid penalties by leaving funds in your 401(k) until retirement.
  • If you change jobs, you can roll over your retirement account.

For more information or to access your account, visit www.401k.com or reach out to Fidelity at (800) 835-5097.