GOPRO 401(K) PLAN Contribution & Employer Match
GOPRO 401(K) PLAN Contribution & Employer Match
GOPRO, INC. provides the following retirement savings benefits to its employees:
GOPRO 401(K) PLAN Average Participant Retirement Account Value
GOPRO 401(K) PLAN Estimated Average Employee Contribution Amount
422,161.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 6,596.00 in GOPRO 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 GOPRO 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’.
GOPRO 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Eligible employees may contribute up to the applicable limits allowed under the Internal Revenue Code.
2. Employer Match/Contribution Conditions: The employer provides matching contributions on a discretionary basis as determined by the Company. Participants must have completed 1,000 hours of credited service with the Company during the plan year and be employed on the last day of the plan year to receive employer profit sharing contributions.
3. Vesting Schedule/Eligibility: Contributions and earnings thereon are fully vested and non-forfeitable at all times. Participants must have completed 1,000 hours of credited service with the Company during the plan year and be employed on the last day of the plan year for profit sharing contributions.
4. Roth 401(k) Contribution: Yes, the plan allows after-tax Roth contributions.
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