2023 Savings & Investment (401k)
You have the opportunity to participate in the CoorsTek 401(k) Savings and Investment plan. Contributing is a great way to save for your future by utilizing valuable tax advantages as well as getting a boost with the CoorsTek matching contribution. Record keeping for the plan is done by Fidelity Investments. CoorsTek matches 100% up to 6% of your contributions.
- 2023 Contribution limit: $22,500
- 2023 Contribution limit for ages 50+: $30,000
The 2023 contribution limits are the maximum amounts an employee may contribute. They do not include the matching contributions from CoorsTek.
New Savings Option – Roth 401(k)
Unlike a traditional pretax 401(k), the Roth 401(k) allows you to withdraw your money tax free when you retire*. But it will also require you to make after-tax contributions now.
Just as with a traditional pretax 401(k): You elect how much of your salary you wish to contribute. Your combined contributions to a Roth 401(k) and a traditional pretax 401(k) cannot exceed IRS limits. You are immediately 100% vested. These contributions are eligible for the company match.
*A distribution from a Roth 401(k) is federal tax free and penalty free, provided the five-year aging requirement has been satisfied and one of the following conditions has been met: age 59½, disability, or death.
You can access your account and manage your assets and investments at any time by visiting Fidelity at www.401k.com or obtain free one on one advice and assistance by calling 800-354-3964.
Fidelity also offers more than just 401(k) record keeping. Please review their additional resources below:
Account, Cyber, and Identity Security
- Cyber Security Flyer (PDF, 494 KB)
- Good Account Hygiene (PDF, 165 KB)
- Identity Protection Fact Sheet (PDF, 187 KB)
College Savings & Student Debt
- Student Debt Refinancing Fact Sheet (PDF, 145 KB)
- 529 College Savings Plans Fact Sheet (PDF, 182 KB)
- Credit Counseling and Debt Management (PDF, 153 KB)
- Five Ways to Financial Wellness (PDF, 123 KB)
- Navigating Volatile Markets Flyer (PDF, 509 KB)
On-Demand Webinars & Webcasts
- Create a Budget, Ditch Your Debt, and Start Building for the Future (Fidelity Website)
- Get Started and Save for the Future You (Fidelity Website)
- Learn the Basics of When and How to Claim Social Security (Fidelity Website)
- Manage Unexpected Events and Expenses (Fidelity Website)
- Fidelity Resources (PDF, 835 KB)
- CoorsTek Fidelity Rollover Form (PDF, 726 KB)
- Fidelity Webcast Hub (Fidelity Website)
- Roth Versus Traditional Pre-Tax Contributions Video (brainshark.com)
2023 Benefit Plan Offering Sections
Savings & Investment (401k)
Questions? Call or email us: