Only the top 3.3% of retirement savers had accumulated over $1 million across their accounts as of the end of the last decade, according to estimates from the Employee Benefit Research Institute, based on the latest Federal Reserve Survey of Consumer Finances. But if you know what those 401(k) millionaires know, you could join this elite group.

They don’t have any insider information. And most didn’t get lucky by vesting company stock in their 401(k) before the price went parabolic. They just understand how to make the most of their 401(k) plan.

Here are three secrets of 401(k) millionaires.

1. They always get their full company match

If there’s one thing you must do to make the most of your 401(k), it’s to get the full company match. If you aren’t contributing enough to get it, you’re practically leaving free money on the table.

Every 401(k) plan will have a different matching policy, but the basics are the same for most companies. If you contribute up to a certain percentage of your salary, your company will also contribute an amount up to 100% of your contribution. Some common 401(k) matching contributions are $0.50 per dollar up to 6% of your pay or a dollar-for-dollar match on the first 3% and $0.50 per dollar on the next 2%.

It’s worth pointing out that unless you’re earning a very high income, you can usually get your full company match with contributions well below the limit for a 401(k). For 2024, the 401(k) deductible contribution limit is $23,000, or $30,500 for workers age 50 or older. So it’s not like you need to be some super saver to set yourself up for a $1 million 401(k).

Getting your full company match will typically put your savings rate close to 10% of your salary per year. Even with an average salary of just $60,000 per year, you’ll end up contributing $6,000 per year. If you can consistently do that for a full 40-year career, you’re very likely to end up with $1 million in your 401(k).

2. They always minimize their fees

For all the benefits of a 401(k) plan, they typically come with one major drawback: The fees can be a significant drag on your investment returns. But if you know what the 401(k) millionaires know, you can minimize the impact of fees on your account.