Page 16 - Virgin Galactic Sample Guide
P. 16
Charles Schwab | 401(k)
You are encouraged to participate in Virgin Galatic & The Spaceship Company’s 401(k) plan. This plan allows you to
fund your retirement with pre-tax dollars. You can defer up to 75% of your annual salary to the 2019 IRS benefit
maximum. If you are 50 years old or older during the plan year, you may contribute a catch-up deferral.
Eligibility
You are eligible for the company’s 401(k) plan on the first day of the month following the completion of 1 month of
employment.
Auto-Enrollment
Upon eligibility, you will be automatically enrolled at 5% (pre-tax) salary contribution unless you elect otherwise.
This plan consists of 12 funds with varying target dates and investment objectives.
Matching
Virgin Galatic & The Spaceship Company will match up to a discretionary amount. Add
additional details here.
401(k) IRS Maximums 2019 2020
Elective Deferral $19,000 Indexed for
Catch-Up Deferral (Age 50+) $6,000 Inflation
