Page 16 - AeroVironment Benefit Guide 2020
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Benefits
ADP | 401(k) Plan
Take an important step toward making tomorrow financially secure and join your retirement savings plan today. Take advantage
of AeroVironment’s 401K plan, which offers a rewarding way to invest for your retirement. Employees are eligible to defer from
1% to 75% of pay. Employees can change their contribution percentages at any time. AeroVironment makes a matching
contribution directly into your account each pay period. The company match is 100% of the first 5.75% of your compensation
that you contribute per pay period.
401(k) IRS Maximums 2019 2020
Elective Deferral $19,000 $19,500
Catch-Up for Employees Age 50+ $6,000 $6,500
Accessing the 401(K)
For more information regarding the 401(k) plan, including enrollment, loans, contributions and investment election
changes, visit ADP at www.mykplan.com.
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