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ALTEON HEALTH LLC 401(K) RETIREMENT PLAN Contribution & Employer Match

ALTEON HEALTH LLC 401(K) RETIREMENT PLAN Contribution & Employer Match

ALTEON HEALTH LLC provides the following retirement savings benefits to its employees:

ALTEON HEALTH LLC 401(K) RETIREMENT PLAN Average Participant Retirement Account Value

In 2021, the average participant retirement account value for ALTEON HEALTH LLC 401(K) RETIREMENT PLAN is $110,250.00

ALTEON HEALTH LLC 401(K) RETIREMENT PLAN Estimated Average Employee Contribution Amount

In 2021, the estimated average employee contribution amount per participant for ALTEON HEALTH LLC 401(K) RETIREMENT PLAN is $6,271.00. 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.
401,401.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 6,271.00 in ALTEON HEALTH LLC 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 ALTEON HEALTH LLC 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’.

ALTEON HEALTH LLC 401(K) RETIREMENT PLAN Total Employer Contribution and Match Rate

In 2021, ALTEON HEALTH LLC 401(K) RETIREMENT PLAN allocates $5,301,449.00 to match its employees' contributions, providing an employer match rate of 35.32% of their contributions

ALTEON HEALTH LLC 401(K) RETIREMENT PLAN Estimated Average Employer Match

In 2021, the estimated average employer match for an employee in ALTEON HEALTH LLC 401(K) RETIREMENT PLAN is approximately $2,215.00
Investing in this additonal $2,215.00 for 20 years would give you extra $141,785.00, assuming a 10% annual return.

ALTEON HEALTH LLC 401(K) RETIREMENT PLAN Contribution & Match Policy

1. Employee Contribution Rates: Employees can contribute up to 75% of their pre-tax annual compensation.

2. Employer Match/Contribution Conditions: The employer matches 50% of the first 8% of eligible pay contributed for employees hired on or after December 1, 2018, who have completed one year of credited service. The years of service requirement is waived for those hired before December 1, 2018.

3. Vesting Schedule/Eligibility: All participants are vested immediately and fully in their contributions and matching contributions. Participants hired before January 1, 2019, are fully vested in their employer profit sharing contributions; those hired on or after January 1, 2019, become fully vested after six years of credited service.

4. Roth 401(k) Contribution: Yes, the plan allows Roth 401(k) contributions.

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