Planning for Retirement

401(k) Plan Information

Facilitated by Fidelity, the GoFundMe 401(k) Plan (3422v) empowers you to proactively prepare for your future. Once eligible, you have the option to designate a percentage of your salary to be withheld and invested in your 401(k) account, in accordance with federal regulations and guidelines. GoFundMe offers a pre-tax 401k plan as well as a post-tax Roth 401k. For confirmation of eligibility and enrollment dates, please consult The ABD Team at ask401k@theabdteam.com.

Key Features of your 401(k) Plan

• Eligibility: New hires are eligible to contribute the 1st of the month following their hire date. If you were hired on the first of the month, you can begin contributions in your first pay period.
• Employee Contributions: Once eligible, you can elect to contribute a portion of your salary to the 401(k) plan on a pre-tax basis. The money is deducted from your paycheck before income taxes are applied, which reduces your taxable income. For 2025, the employee maximum contribution limit is $23,500. Although, if you are over the age of 50, you can contribute up to $31,000.
• Employer Contributions: GoFundMe offers matching contributions, 100% up to 6% of your salary per paycheck with a maximum match of $3,000 per year. All employer contributions will be matched to your pre-tax account. This is essentially free money added to your retirement savings.
• Tax-Deferred Growth: Investments within the 401(k) account grow on a tax-deferred basis. This means you do not pay taxes on the earnings until you withdraw the money, typically during retirement.
• Investment Options: 401(k) plans offer a range of investment options, such as mutual funds, stocks, bonds, and sometimes company stock. You can choose the investment mix that aligns with your risk tolerance and financial goals.
• Withdrawals and Penalties: While contributions are made on a pre-tax basis, withdrawals during retirement are subject to income tax. If withdrawals are made before the age of 59½, they may also be subject to a 10% early withdrawal penalty, with some exceptions.
• Portability: If you change jobs, you can generally roll over your 401(k) account into an Individual Retirement Account (IRA) or your new employer's 401(k) plan to maintain the tax-advantaged status.
  

Please note, Nava Benefits does not serve as an advisor, broker-dealer, or registered investment advisor for this plan. All terms and conditions are subject to applicable laws, regulations, and policies. In case of any conflict between your plan document and this information, the plan documents will always take precedence.