Seagate Match Maximizer Tool
This tool is designed to help you maximize your employee (pre-tax/Roth and after-tax) contributions, Company matching contributions and catch-up contributions (if applicable) to your 401(k) plan. It does so by taking into account your total eligible compensation, your bi-weekly deferral amounts, and your Company's matching contributions. Changes that you make to increase or decrease your deferral contributions during the plan year may affect your ability to properly maximize the amount of your annual matching contributions.
We recommend that you consider different scenarios, modeling the impact
of increases or decreases to your 401(k) contribution election, assumed
annual compensation, or other inputs.
As a reminder, below are the
2024
Qualified Plan and/or IRS limits. |
Pre-tax Maximum Contribution %$23,000 is the 402(g) contribution limit set by the IRS. |
up to 50% of eligible compensation* |
Roth Maximum Contribution %$23,000 is the 402(g) contribution limit set by the IRS. |
up to 50% of eligible compensation* |
Pre-tax/Roth Contribution Limit$23,000 is the 402(g) contribution limit set by the IRS on the combination of pre-tax and Roth contributions. |
$23,000 |
After-tax Maximum Contribution % |
up to 20% of eligible compensation* |
Company Matching ContributionsSeagate contributes $0.50 for each $1.00 you contribute to the Plan on a pre-tax and/or Roth basis, up to 6% of eligible pay each pay period. |
up to $6,000 per calendar year |
Total Contributions Limit (employer and employee)$69,000 is the 415(c) contribution limit set by the IRS. |
$69,000** |
Maximum Eligible Compensation$345,000 is the 401(a)(17) annual compensation limit set by the IRS. for the 401(k) Plan |
$345,000 |
Catch-up Contribution Limit$7,500 is the 414(v) contribution limit set by the IRS. (employees age 50 or older during the
2024
calendar year) |
50% of eligible compensation,
not to exceed $7,500 |
* Contributions from all sources (pre-tax, Roth, after-tax, catch-up) cannot exceed 75% of eligible compensation.
** Catch-up contributions do not count against this limit.
For More Information
If you have any questions about the plan, please contact Fidelity at 800-835-5098.
From overseas, get an AT&T Direct® access number by visiting www.att.com/traveler,
by calling 1-800-331-1140 for a list of country codes, or by asking the local operator. After you dial your AT&T Direct access number,
enter 877-833-9900 to reach Fidelity.