Retirement
One of the best ways to ensure a secure retirement is to start saving as early as possible. Our 401(k) savings plan allows you to save for retirement on a pretax or Roth basis. You can begin contributing to the plan at any time once you become eligible and start making contributions to your account through convenient payroll deductions.
Steptoe LLP offers a 401(k) through Schwab. The 401(k) plan allows you to save for retirement and enjoy significant tax advantages. You can contact Schwab any time by logging in to workplace.schwab.com for more information about the plan, your account balance, making contributions, changing investment elections, initiating a rollover or requesting a loan or withdrawal.
Who is Eligible for the 401(k)?
Please refrence your 2026 plan documents for eligibility rules.
How Do I Enroll in the 401(k)?
You can enroll in the retirement savings plan by visiting your plan provider’s website and registering with your personal information. Once registered, you’ll be able to select your contribution percentage.
Increase Your Retirement Savings with a 401(k)
- Contribute up to 25% of your compensation for HCE’s or 50% of your compensation for NHCE’s using convenient payroll deductions up to the IRS limit of $24,500 per year. (Please contact the retirement plan specialist to confirm if you are HCE or NHCE.)
- Change the amount of your contributions or stop your payroll contributions at any time.
- Decide how to invest your 401(k) or allow the plan to choose for you.
- The Profit Sharing contribution is a discretionary contribution made by the firm. The Contribution is based on your gross compensation from plan enter date to 12/31 of the plan year with a last day of plan year active employment requirement. Participants are immediately 100% vested.
- The 401(k) contribution limit for employees age 50 or older is $32,500 per year.
- The 401(k) contribution limit for employees age 60-63 is $36,500 per year.
*2026 limits are estimated as they have not yet been formally released.