401k

Maxar offers a 401(k) Plan managed by Fidelity Investments. Regular employees paid in US dollars are eligible to participate as of the date of hire.

Employee Contributions

• Employees may contribute between 1% and 75% of eligible earnings up $23,000 the IRS maximum in 2024.
• Maxar offers the ability to contribute via a traditional pre-tax 401(k) deferral as well as via a post-tax Roth 401(k) deferral.
• Both pre-tax 401(k) and Roth 401(k) contributions apply to the annual maximum and are eligible for employer discretionary match contributions.
• The catch-up contribution limit for employees age 50 or older who participate in 401(k) is $7,500 for 2024 (catch up contributions are eligible for the Employer Discretionary match).
• You may contribute up to the IRS maximum for 2024.
• Newly eligible employees will be enrolled automatically after 30 days unless other action is taken.
• Automatic enrollment will deduct 4% from your pay on a pre-tax basis and increase by 1%, capping at 8%, every year on April 15th.
• You may stop or change this automatic contribution by logging into www.401k.com.
• The Maxar 401(k) Plan accepts rollovers from “tax-qualified” plans.

**In the event of either retirement or termination, your earnings can be withdrawn tax-free if it has been five tax years since your first Roth 401(k) contribution and you are at least 59 1/2 years old. In the event of death, beneficiaries may be able to receive distributions tax-free if the deceased started making Roth contributions more than five tax years prior to the distribution. In the event of disability, your earnings can be withdrawn tax-free if it has been five tax years from your first Roth 401(k) contribution.