401(K) Plan

Highlights

• Save up to 85% of your base salary, up to $23,500 in 2025 (or $31,000 if you’re 50-59 or 64+, or $34,750 if you're 60-63) with traditional pretax, traditional Roth contributions.

• If you participate in the Mega Backdoor Roth the maximum you can save is $70,000 in 2024 (this includes Pre-tax, Traditional Roth, Mega Backdoor Roth, and employer contributions) or (or $70,000 if you’re 50-59 or 64+, or $81,250 if you're 60-63) with traditional pretax, traditional Roth contributions.

  • Note: It is your responsibility to calculate and monitor your contributions. Samsara is not able to provide calculations or tax advice.

• 100% company match on the first 4% you contribute. That’s free money. Every pay period. No joke.

  • A True-Up is performed every tax year to ensure that employees receive the full match.

• All contributions, including the company match, are always 100% yours.

  • Note: The employer match does not count toward the 401k contribution limit. It does count towards the total limit dictated by section 415.

• Manage your contribution elections and investments through Fidelity’s website.

  • Changes will be made as soon as administratively possible, which is generally in 1 to 2 pay periods.

  • If you are with Samsara for the full calendar year and reach the IRS limit, your contributions will automatically be capped.

• Questions: Contact Fidelity 401(k) at 800-835-5097 or through Fidelity Website and

  Fidelity Investment Centers

New to Samsara?

• You’re probably pumped to embark on the 401(k) adventure! You can enroll in the plan on the Fidelity website one week after your hire date. 

• Have a 401(k) plan with your previous employer? Consider rolling over your account to your Samsara 401(k) by following these instructions. If you’ve contributed to a previous employer's 401(k) this year, avoid exceeding your annual contribution limit by emailing payroll@samsara.com with the dollar amount you’ve contributed this calendar year.

Free money

• Samsara matches 100% of the first 4% of your base salary you put in your 401(k) as traditional pretax or traditional Roth contributions. To get the full match, be sure to contribute at least 4% of your annual pay—it doesn’t matter when you do it during the calendar year.

Enroll or Update your Contributions and investment options

• You can update your contributions through your Fidelity account by going to Quick Links > Contributions. If you do not change your election or opt-out within 30 days of your hire date, you will be automatically enrolled in a 1% contribution rate.

Pay taxes now or later

• There are different types of 401(k) contributions, and each has different tax implications. When deciding on which to choose, consider what your income in retirement might be. Generally, if you expect your income tax rate to be lower in retirement than while you’re working, then pretax contributions may make sense, since you will be taxed when you take a withdrawal. If you expect to have a higher income tax rate in retirement, then maybe Roth contributions will make sense for you.

Pre-tax Contributions (Traditional 401(k))

• Contributions are deducted from your paycheck before taxes are withheld, reducing your taxable income today. Investment earnings also accumulate on a tax-deferred basis, which can help your account grow faster. In the future, you pay income tax on your withdrawals, including any capital gains.

Roth (Post-tax) Contributions

• Contributions are deducted from your paycheck after taxes are withheld. In the future, withdrawals are tax-free if you own the account for at least five years and have reached age 59 ½ or have become disabled.

After-tax (Mega Back Door Roth)

• Like Roth contributions, money is taxed when you contribute to your 401(k). You will not owe taxes on a withdrawal of your traditional after-tax contributions. However, unlike Roth contributions, you will owe income taxes on any earnings at the time of your withdrawal, unless you choose to convert your after-tax contributions to Roth.

• Action: 1) Make your election in Fidelity by following the instructions above. 2) Follow the instructions here to convert your after-tax contributions to Roth account. You will begin by calling 800-557-1900.

• A True-Up is performed every tax year to ensure that employees receive the full match. Employees who participate in After-Tax should take the full employer match into consideration while calculating their contribution rates, as the employer match counts towards the aggregate IRS contribution limit (inclusive of pre-tax, roth, after-tax, and employer match). The system does not calculate the full employer match up front as this amount is pro-rated by paycheck.

  • Example with the IRS Limit of $70,000 Annual Salary: 100,000 Employer Match: $4,000 Pre-Tax and Roth Contributions: $23,500 After-Tax Contribution: $42,500

• Please note Samsara cannot provide financial or tax advice, so employees may need to reach out to a financial advisors, if you have additional questions.

• Questions: Fidelity FAQs

Self-Directed Brokerage Account available through Fidelity

• Fidelity BrokerageLink provides you with the opportunity to select from thousands of mutual funds and other investment options. You can invest in a broad range of choices, including stocks, bonds, mutual funds, exchange-traded products (ETPs), CDs, and more.

• Please see additional information here.

• Questions: Call Fidelity's support line at 800-890-4015.