ARCHITECTS HAWAII, LTD. 401K PROFIT SHARING PLAN Contribution & Employer Match
ARCHITECTS HAWAII, LTD. 401K PROFIT SHARING PLAN Contribution & Employer Match
ARCHITECTS HAWAII, LTD. provides the following retirement savings benefits to its employees:
ARCHITECTS HAWAII, LTD. 401K PROFIT SHARING PLAN Average Participant Retirement Account Value
ARCHITECTS HAWAII, LTD. 401K PROFIT SHARING PLAN Estimated Average Employee Contribution Amount
408,843.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 6,388.00 in ARCHITECTS HAWAII, LTD. 401K PROFIT SHARING PLAN, assuming a 10%* annual return.
2023 & 2024 401(k) contribution limits by IRS
| Pretax and roth employee contributions | Employee and employer contributions combined | Catch-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 ARCHITECTS HAWAII, LTD. 401K PROFIT SHARING 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’.
ARCHITECTS HAWAII, LTD. 401K PROFIT SHARING PLAN Total Employer Contribution and Match Rate
ARCHITECTS HAWAII, LTD. 401K PROFIT SHARING PLAN Estimated Average Employer Match
Investing in this additonal $4,798.00 for 20 years would give you extra $307,078.00, assuming a 10% annual return.
ARCHITECTS HAWAII, LTD. 401K PROFIT SHARING PLAN Contribution & Match Policy
1. Employee Contribution Rates: 3 percent of each participant's compensation.
2. Employer Match/Contribution Conditions: The employer may make matching contributions at the discretion of the Company's Board of Directors, not exceeding the maximum amount deductible under the Internal Revenue Code (IRC).
3. Vesting Schedule/Eligibility: Immediate vesting in participant contributions; 100% vested in employer match only if severance results from death. Eligibility for employer contributions requires one year of service and age 21.
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