FIGMA, INC. 401(K) PLAN Contribution & Employer Match

FIGMA, INC. 401(K) PLAN Contribution & Employer Match

FIGMA, INC. provides the following retirement savings benefits to its employees:

FIGMA, INC. 401(K) PLAN Average Participant Retirement Account Value

In 2021, the average participant retirement account value for FIGMA, INC. 401(K) PLAN is $65,992.00

FIGMA, INC. 401(K) PLAN Estimated Average Employee Contribution Amount

In 2021, the estimated average employee contribution amount per participant for FIGMA, INC. 401(K) PLAN is $17,118.00. If you contribute an amount exceeding this, you have saved more than your colleagues. Congratulations! Keep up the good work. Otherwise, you might want to consider contributing more to ensure a better retirement future.
1,095,554.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 17,118.00 in FIGMA, INC. 401(K) PLAN, assuming a 10%* annual return.

2023 & 2024 401(k) contribution limits by IRS

 Pretax and roth employee contributionsEmployee and employer contributions combinedCatch-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 FIGMA, 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’.

FIGMA, INC. 401(K) PLAN Total Employer Contribution and Match Rate

In 2021, FIGMA, INC. 401(K) PLAN allocates $1,703,801.00 to match its employees' contributions, providing an employer match rate of 38.14% of their contributions

FIGMA, INC. 401(K) PLAN Estimated Average Employer Match

In 2021, the estimated average employer match for an employee in FIGMA, INC. 401(K) PLAN is approximately $6,527.00
Investing in this additonal $6,527.00 for 20 years would give you extra $417,790.00, assuming a 10% annual return.

FIGMA, INC. 401(K) PLAN Contribution & Match Policy

  • Participant Contributions:
    • Participants can contribute between 1% and 100% of their pre-tax annual compensation.
    • Roth contributions are allowed using after-tax contributions.
    • Catch-up contributions are available for participants aged 50 or older.
    • Contributions from other retirement plans are permitted.
    • Auto-enrollment is in place with a default deferral rate of 3%.
  • Employer Contributions:
    • Discretionary matching and profit sharing contributions are at the Company's discretion.
    • Safe harbor contributions are made equal to 3% of eligible compensation. This is for any employee and is contributed by the employer, not out of employees' compensation
  • Contributions are subject to regulatory limitations.

    • Participant Accounts

    • Each participant has an individual account.
    • Accounts are credited with participant contributions and employer contributions.

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