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2025 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.

  • 2025 Contribution limit:  $23,000

  • 2025 Contribution limit for ages 50+: $30,500

 

The 2024 contribution limits are the maximum amounts an employee may contribute. They do not include the matching contributions from CoorsTek.

 

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 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

 

College Savings & Student Debt

 

Financial Wellness

 

Medicare & Social Security

 

On-Demand Webinars & Webcasts

 

Additional Resources

 

Achieving a Better Life Experience (ABLE) Act*

ABLE accounts allow people with disabilities to save money that is not counted towards asset limitations set by means-tested benefit programs such as Medicaid or SSI. “Asset limits” prevent people with disabilities from saving money beyond $2,000 (a typical asset limit) and planning for their future.

Anyone can contribute to an ABLE account – including the account owner, friends, family, organizations, nonprofits, and employers – up to an annual maximum. If the account owner is working and not already contributing to a workplace retirement plan, they can contribute an additional amount equal to their current year’s gross income up to the maximum.

There are lifetime balance limits for the various state ABLE Programs, which range from around $300,000 to over $500,000.

Information regarding ABLE accounts can be found at https://www.abletoday.org/

 

*ABLE is not a CoorsTek sponsored program and CoorsTek cannot provide any investment advice or information other than what is provided at the link above.