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AGRELIANT GENETICS 401(K) RETIREMENT PLAN Contribution & Employer Match

AGRELIANT GENETICS 401(K) RETIREMENT PLAN Contribution & Employer Match

AGRELIANT GENETICS, LLC provides the following retirement savings benefits to its employees:

AGRELIANT GENETICS 401(K) RETIREMENT PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for AGRELIANT GENETICS 401(K) RETIREMENT PLAN is $137,921.00

AGRELIANT GENETICS 401(K) RETIREMENT PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for AGRELIANT GENETICS 401(K) RETIREMENT PLAN is $5,402.00. If you contribute an amount exceeding this, you have saved more than your colleagues. Congratulations! Keep up the good work. Otherwise, you might want to consider contributing more to ensure a better retirement future.
345,781.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 5,402.00 in AGRELIANT GENETICS 401(K) RETIREMENT PLAN, assuming a 10%* annual return.

2023 & 2024 401(k) contribution limits by IRS

 Pretax and roth employee contributionsEmployee and employer contributions combinedCatch-up contributions (in addition to the employee and employer combined limit, age 50 and over)
401(k) contribution limit for 2023$22,500$66,000$7,500
401(k) contribution limit for 2024$23,000$69,000$7,500

$1,440,056: this is the amount you will have saved 20 years later if you contribute the maximum of $22,500 annually for 20 years, assuming a 10%* annual return.

$4,224,165: for those who can maximize employee and employer annual $66,000 contributions for 20 years, assuming a 10%* annual return, you will be 3 times richer!

Use the 401(k) Savings Calculator to determine how much your contributions will accumulate over time.

Employer match in AGRELIANT GENETICS 401(K) RETIREMENT PLAN

An employer match is deemed as ‘free’ money wherein your employer contributes additional funds to your allocated retirement savings plan. The matching amount can frequently be several percentage points of your compensation. Don’t avoid this free salary ‘raise’.

AGRELIANT GENETICS 401(K) RETIREMENT PLAN Total Employer Contribution and Match Rate

In 2023, AGRELIANT GENETICS 401(K) RETIREMENT PLAN allocates $4,182,493.00 to match its employees' contributions, providing an employer match rate of 67.73% of their contributions

AGRELIANT GENETICS 401(K) RETIREMENT PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in AGRELIANT GENETICS 401(K) RETIREMENT PLAN is approximately $3,812.00
Investing in this additonal $3,812.00 for 20 years would give you extra $244,010.00, assuming a 10% annual return.

AGRELIANT GENETICS 401(K) RETIREMENT PLAN Contribution & Match Policy

1. Employee Contribution Rates: Employees can contribute up to 90% of their eligible annual compensation, subject to the maximum annual amount permitted under Section 402(g) of the Internal Revenue Code (IRC).

2. Employer Match/Contribution Conditions: The employer matches contributions equal to 50% of the first 5% of compensation that each participant contributes to the plan. Additionally, the employer made a safe-harbor contribution equal to 3.5% of eligible compensation for each participant in 2022.

3. Vesting Schedule/Eligibility: Participants are 100% vested in their contributions and the employer safe-harbor contributions plus actual earnings. Prior to March 15, 2022, the vesting in the employer’s matching contributions was based on years of service, with 20% vesting after one year and full vesting after five years. Effective March 15, 2022, any participants actively employed on or after January 1, 2022, are 100% vested in their account balances.

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