Snowflake’s 401(k) plan with Fidelity makes saving for your retirement simple while providing tax benefits now or in the future.
For more information, please visit the 401(k) Retirement Savings Plan Article on the Lift.
You can contribute to your retirement plan with traditional pre-tax contributions, Roth post-tax contributions, and/or after-tax contributions.
Contributions are made from your paycheck before income taxes are applied, reducing your taxable income today. You’ll pay taxes when you withdraw money from the account during retirement.
Normal income taxes are applied to your contributions, so you won’t pay them later when you withdraw funds during retirement.
Normal income taxes are applied to your contributions—when you withdraw your principle it is tax-free, but any earnings on after-tax contributions are considered pre-tax and are taxable income when withdrawn from the Plan. Converting your After-Tax contributions to Roth status allows your earnings to grow and be distributed tax-free if certain requirements are met. This is why Snowflake also offers an automated Roth In-Plan Conversion.
401(k) catch-up contributions allow employees age 50 and older to contribute additional funds to their 401(k) plan beyond the standard IRS annual contribution limit. For 2026, the catch-up contribution limit is $7,500. These extra contributions are designed to help individuals boost retirement savings as they approach retirement and can provide additional tax-deferred or Roth savings opportunities, depending on the plan’s features.
These limits are set by the IRS each year and are subject to change.
*All sources include Traditional pre-tax, Roth after-tax, and after-tax contributions. They also include any contributions you made at a prior employer.
New employees are eligible to participate as of the first day of employment. If you do not take any action to enroll within the first 31 days of employment, you will automatically be enrolled with a 5% pre-tax contribution rate. You can adjust your contribution rate at any time on the Fidelity website or by calling Fidelity.
Manage my 401(k)Note: Interns are eligible for 401(k) enrollment (no minimum age or hours requirement)
In order to consolidate your retirement savings, you can rollover your retirement savings plan into your Snowflake account. View the detailed instructions (PDF) or contact Fidelity at (800) 835-5097 for more information.
