Timothy Sumer

Nike employees can contribute after-tax dollars to their Nike 401(k) and convert those dollars to Roth using the Mega Backdoor Roth provision. In 2023, Nike allows you to contribute 3% of your annual salary to the Mega Backdoor Roth, up to $9,900. First, it’s important to understand the 2023 401(k) contribution limits and the Nike employer match. 2023 401(k) contribution limits: Under 50 years old: $22,500 50 or older: $30,000 The Nike employer match is 5% of your annual salary. To receive the full match, you must contribute at least 5%. ******* 00:00 Introduction 00:17 2023 Nike 401(k) Contribution Limits 00:28 Nike Employer Match 00:56 Example: Nike Mega Backdoor Roth 01:32 Tax Benefits ******* The Mega Backdoor Roth is a way for high-income earners to contribute after-tax dollars to their 401(k) over and above the 2023 contribution limits and then immediately convert the after-tax dollars to their Roth 401(k). We think this is one of the best Nike benefits availabl...