401(K) Plan

Highlights

• Save up to 100% of your base salary, up to $22,500 in 2023 (or $30,000 if you’re 50+) with traditional pretax and Roth contributions.

• 100% company match on the first 4% you contribute. That’s free money. Every pay period. No joke.

• All contributions, including the company match, are always 100% yours.

• Manage your contribution elections and investments through Fidelity’s website.

• Questions: Contact Fidelity 401(k) at 800-835-5097 or through Fidelity Website and

  Fidelity Investment Centers

New to Samsara?

• You’re probably pumped to embark on the 401(k) adventure! You can enroll in the plan on the Fidelity website one week after your hire date. 

• Have a 401(k) plan with your previous employer? Consider rolling over your account to your Samsara 401(k) by following these instructions. If you’ve contributed to a previous employer's 401(k) this year, avoid exceeding your annual contribution limit by emailing payroll@samsara.com with the dollar amount you’ve contributed this calendar year.

Free money

• Samsara matches 100% of the first 4% of your base salary you put in your 401(k) as pretax or Roth contributions. To get the full match, be sure to contribute at least 4% of your annual pay—it doesn’t matter when you do it during the year.

Enroll or Update your Contributions and investment options

• You can update your contributions through your Fidelity account by going to Quick Links > Contributions. If you do not change your election or opt-out within 30 days of your hire date, you will be automatically enrolled in a 1% contribution rate.

Pay taxes now or later

• There are different types of 401(k) contributions, and each has different tax implications. When deciding on which to choose, consider what your income in retirement might be. Generally, if you expect your income tax rate to be lower in retirement than while you’re working, then pretax contributions may make sense, since you will be taxed when you take a withdrawal. If you expect to have a higher income tax rate in retirement, then maybe Roth contributions will make sense for you.

Pre-tax Contributions (Traditional 401(k))

• Contributions are deducted from your paycheck before taxes are withheld, reducing your taxable income today. Investment earnings also accumulate on a tax-deferred basis, which can help your account grow faster. In the future, you pay income tax on your withdrawals, including any capital gains.

Roth (Post-tax) Contributions

• Contributions are deducted from your paycheck after taxes are withheld. In the future, withdrawals are tax-free if you own the account for at least five years and have reached age 59 ½ or have become disabled.

After-tax (Mega Back Door Roth)

• Like Roth contributions, money is taxed when you contribute to your 401(k). You will not owe taxes on a withdrawal of your traditional after-tax contributions. However, unlike Roth contributions, you will owe income taxes on any earnings at the time of your withdrawal, unless you choose to convert your after-tax contributions to Roth.

• Action: 1) Make your election in Fidelity by following the instructions above. 2) Follow the instructions here to convert your after-tax contributions to Roth account. You will begin by calling 800-557-1900.

• Questions: Fidelity FAQs and Samsara AMA session (passcode: 5&7.^wH^)