Cisco 401(k) Plan | Wealth45

Cisco 401(k) Plan | Wealth45

Cisco 401(K) PLAN
- $
  
  23000
  
  How much can I contribute?
  
  The IRS limits the total amount you can contribute each year to a 401(k) plan. Limit is $23,000 for 2024.
- $
  
  7500
  
  What are “catch-up” contributions?
  
  For those over 50 years old, you can make additional “catch-up” contributions to your 401(k) plan. Limit is $7,500 for 2024.

- Cisco 401(k) Plan
  
  At the end of 2022, the Cisco Systems 401(k) Plan had 66,636 participants with account balances and $15B billion in assets.
- Cisco Employee Contributions
  
  Each participant may elect to contribute up to 75% of compensation either pre-tax or after-tax (Roth) to the Plan through payroll deductions up to IRS limits.
- Cisco’s Contribution
  
  Cisco Systems makes matching contributions in an amount equal to 100% of the first 4.5% of compensation.
- Cisco Vesting
  
  Contributions and matching contributions are 100% vested at all times.
- Cisco 401(k) Investment Options
  
  Cisco’s 401(k) plan has ~16 investment options, including a Stable Value Fund. Plus, a BrokerageLink option. The plan is administered by Fidelity.

401(k) Plan Details & Investment Options

* 401(k) retirement savings plans are required to file Form 5500 each year with the Department of Labor. This form provides a summary of the plan and lists all plan investments (see last few pages of the document for investment list).

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