Skip to main content
Home
New to Okta

Main navigation

  • Eligibility + Enrollment
    • Eligibility
    • Enrolling and Making Benefits Decisions
    • Making Changes to Your Benefits
  • Health + Wellness
    • Mental Health Support (Modern Health)
    • Kaiser Medical
    • HMSA (HI employees only)
    • Blue Shield Medical
    • Health Savings Account (HSA)
    • Healthcare Plan Premiums
    • Rightway Healthcare
    • One Medical
    • Dental
    • Vision
    • Wellness Programs
    • OktaFIT
    • Healthcare Glossary
  • Financial Benefits
    • Gradifi Student Loans
    • 401(k) Plan
    • Northstar Financial Wellness
    • Flexible Spending Account (FSA)
    • HSA, FSA, & Commuter Benefits Transition
    • Commuter Benefits
    • Life/AD&D Insurance
    • Disability Coverage
    • Business Travel Accident Insurance
    • Personal Travel Assistance
    • Auto and Home Insurance
    • Pet Insurance
  • Community
    • Okta People First Culture
    • The Way We Work (Dynamic Work)
    • Our Culture of Recognition
    • Diversity, Inclusion + Belonging
    • Okta for Good
  • Career
    • New to Okta
    • Learning and Development
    • Job Opportunities
    • Your Performance
    • Leaving Okta
  • Pay + Incentives
    • Pay + Incentives Overview
    • Base Pay
    • Cash Incentive Bonus Program
    • Long-Term Incentives (RSUs)
    • Employee Stock Purchase Plan
  • Time Off
    • Flexible PTO
    • Parental Leave
    • Personal Leave
    • Medical Leave
    • Other Leaves
    • Volunteer Time Off
    • Holidays
  • Everyday Living
    • Carrot Fertility and Adoption Services
    • Caregiver Resources
    • Bump Boxes
    • Identity Theft
    • Legal Assistance
    • Cell Phone/Internet Reimbursement
  • Resources
    • Who to Contact
    • Mobile Apps
    • Videos
    • Documents and Forms
New to Okta

Breadcrumb

  1. Home
  2. Financial Benefits
  3. 401(k) Plan

401(k) Plan

The takeaway

The 401(k) savings plan, administered through Fidelity, provides you with one of the easiest ways to save for your future using both pretax and after-tax dollars. You can take advantage of several investment options and access to guidance and financial planning services. Through your contributions and Okta’s matching contributions, you can build a solid retirement foundation, no matter where you are in your career.

HighlightsThree savings optionsWhat else you need to knowGet schooled with Fidelity’s toolsMore helpful resources
HighlightsThree savings optionsWhat else you need to knowGet schooled with Fidelity’s toolsMore helpful resources

Note: Some links on this page go to Okta Box documents which are for Okta employees and can only be accessed with an Okta account.

What is Okta's match for the 401(k)?

Okta provides dollar-for-dollar matching contributions, up to a quarterly maximum of $1,250 with an annual match cap of $5,000 per calendar year.

Highlights

  • Full-time employees age 21 and older are immediately eligible upon hire.
  • Part-time employees and interns age 21 and older are eligible after completion of 1,000 hours of service.
  • Starting January 1, 2023, Okta will provide dollar-for-dollar matching contributions, up to a quarterly maximum of $1,250 with an annual match cap of $5,000 per calendar year. 
  • Four percent (4%) of your base pay is automatically deducted as pretax savings and deposited into the 401(k) plan on your behalf, unless you decide otherwise within 30 days of joining.
  • Opt out, enroll, and change your contribution elections at any time through Fidelity’s website.
  • You have the flexibility to make separate contribution elections for regular pay and bonus/commission pay.
  • Manage your contribution elections and investments through Fidelity’s website. 
  • Okta’s Plan offers an Automated Roth In-Plan Conversion or after-tax contributions. Contact Fidelity directly for more information.

IRS and Plan Annual Limits

Contribution type 2022 Limits* 2023 Limits*
Pre-tax
Deducted from your paycheck pre-tax, reducing current taxable income.
Up to 85% of your eligible earnings, up to the IRS limit $20,500.

If you are age 50 or older, you can contribute an additional $6,500.
Up to 85% of your eligible earnings, up to the IRS limit $22,500.

If you are age 50 or older, you can contribute an additional $7,500.
Roth contributions
Deducted from your paycheck after taxes are withheld.
Up to 85% of your eligible earnings, up to the IRS limit $20,500. Up to 85% of your eligible earnings, up to the IRS limit $22,500.
After-tax contributions
Deducted from your paycheck after taxes are withheld.
Limited to the lesser of $61,000 or 85% of your eligible compensation** (combined with pre-tax, Roth 401(k), and employer contributions); $67,500 if you are catch-up eligible. Limited to the lesser of $66,000 or 85% of your eligible compensation** (combined with pre-tax, Roth 401(k), and employer contributions); $73,500 if you are catch-up eligible.

* Contribution limits include the combined total of pre-tax and Roth contributions. After-tax limit includes the combined total of pre-tax, Roth, and employer matching contributions.

** Earnings are pre-tax upon withdrawal if you own the Roth 401(k) account for at least five years and have reached age 59½.

Back to top

Three savings options

You have three ways to save for your future: through pretax, Roth, and after-tax contributions. Take a look at how the different options compare:

Pretax 401(k) contributions

Okta deducts your contributions from your paycheck on a pretax basis. That means your taxable income is lower, so you pay lower federal and state taxes now.

Your 401(k) savings and investment earnings accumulate on a tax-deferred basis.

You’ll pay tax when you withdraw money from your account at retirement (or, in other cases, for example, if you leave Okta and withdraw your money from your account).

A rollover to another employer’s plan or an IRA is generally not taxable.

This option may be best if you want to reduce your current taxable income or if you think you’ll be in a lower tax bracket when you get to retirement.

Roth 401(k) contributions

Your contributions go into your account after-tax, meaning you pay federal and state taxes on the amount contributed.

Your investment earnings accumulate on a tax-free basis. You won’t pay taxes on your earnings when you withdraw money from your account in retirement, which generally means 5 years after the initial contribution and attaining age 59 ½.

A rollover to another employer’s plan or to a Roth IRA is generally not taxable.

This option may be preferable if you believe tax rates may be higher in the future and you have a longer time horizon until retirement to accumulate tax-free investment earnings.

After-tax contributions

  • If you max out your pretax and/or Roth 401(k) contributions to the combined IRS limit, you can set aside even more money for your future through an after-tax (non-Roth) account.
  • You can withdraw your contributions tax-free at any time.
  • Investment earnings are tax-deferred until withdrawn; however, you can convert your after-tax contributions to your Roth account (called an “in-plan conversion”), and after the conversion, future earnings are tax-free. You will need to call Fidelity at 800-294-4015 to request a conversion. You can set up an automatic conversion of all your future after-tax contributions.
  • You might consider this option when you want to save more than the IRS limits for pretax and Roth contributions.

Back to top

Talk to Fidelity about your individual situation and decide which 401(k) options are best for you.

What else you need to know

New hires:

  • Look for an email during your first two weeks on setting up your 401(k)
  • Automatic enrollment of 4%; you must login to your account to change the percentage
  • Contribute up to 85% of your salary up to IRS contribution limits
  • If you contributed to a 401(k) or 403(b) plan prior to joining Okta during this calendar year, complete the Prior Contribution task in the People Portal, accessible on the Okta Dashboard, to ensure your Okta contributions do not put you over the annual IRS limits.

Making changes: You can make changes to your contribution amount, fund choices and beneficiaries at any time. It can take 1-2 pay cycles for contribution changes to take effect.

Back to top

Get schooled with Fidelity’s tools

The 401(k) features many investment options, plus access to planning tools and calculators, education, and guidance—all from industry leader Fidelity.

Fidelity’s eLearning tools help you set financial goals to make the right plan for you. Register on Fidelity’s website, and after you log in, select “Tools” from the menu.

And that’s not all: Fidelity Investor Centers are located nationwide and available free of charge to all Fidelity account holders. You can meet with a financial advisor who will work with you to review and analyze your 401(k) account and answer your questions.

Back to top

More helpful resources

401(k) Fact Sheet
401(k) Plan Summary

Fidelity Post-Tax Contributions

You can now set up your 401(k) plan so funds coming into your after-tax account automatically convert to your plan’s Roth account.

Participant Fund Letter
Brokerage Link Brochure
Fidelity Brokerage Link Fact Sheet
Automated Roth In-Plan Conversion

401(k) Match

View the list of Frequently Asked Questions. 

Questions?

Contact Fidelity directly at 800-294-4015 or visit the Fidelity website.

Also available is the Fidelity Investor Centers site.

Back to top

Related Content
Flexible Spending Account (FSA)
Employee Stock Purchase Plan
Cash Incentive Bonus Program

Welcome!

Okta’s total rewards connect eligible employees and their family members to a constantly evolving portfolio of plans, services, and support for meeting their changing needs. Check out the links below to learn more and make the most of your total rewards.

Learn more about Okta

Contacts

Fidelity Investments

401(k) plan
800-294-4015
Website
Fidelity Investor Centers
  • Eligibility + Enrollment
    • Eligibility
    • Enrolling and Making Benefits Decisions
    • Making Changes to Your Benefits
  • Health + Wellness
    • Mental Health Support (Modern Health)
    • Kaiser Medical
    • HMSA (HI employees only)
    • Blue Shield Medical
    • Health Savings Account (HSA)
    • Healthcare Plan Premiums
    • Rightway Healthcare
    • One Medical
    • Dental
    • Vision
    • Wellness Programs
    • OktaFIT
    • Healthcare Glossary
  • Financial Benefits
    • Gradifi Student Loans
    • 401(k) Plan
    • Northstar Financial Wellness
    • Flexible Spending Account (FSA)
    • HSA, FSA, & Commuter Benefits Transition
    • Commuter Benefits
    • Life/AD&D Insurance
    • Disability Coverage
    • Business Travel Accident Insurance
    • Personal Travel Assistance
    • Auto and Home Insurance
    • Pet Insurance
  • Community
    • Okta People First Culture
    • The Way We Work (Dynamic Work)
    • Our Culture of Recognition
    • Diversity, Inclusion + Belonging
    • Okta for Good
  • Career
    • New to Okta
    • Learning and Development
    • Job Opportunities
    • Your Performance
    • Leaving Okta
  • Pay + Incentives
    • Pay + Incentives Overview
    • Base Pay
    • Cash Incentive Bonus Program
    • Long-Term Incentives (RSUs)
    • Employee Stock Purchase Plan
  • Time Off
    • Flexible PTO
    • Parental Leave
    • Personal Leave
    • Medical Leave
    • Other Leaves
    • Volunteer Time Off
    • Holidays
  • Everyday Living
    • Carrot Fertility and Adoption Services
    • Caregiver Resources
    • Bump Boxes
    • Identity Theft
    • Legal Assistance
    • Cell Phone/Internet Reimbursement
  • Resources
    • Who to Contact
    • Mobile Apps
    • Videos
    • Documents and Forms
Privacy Policy & Legal Disclaimer © 2023 Okta, Inc. All Rights Reserved. Various trademarks held by their respective owners.