ARDENT HEALTH SERVICES RETIREMENT SAVINGS PLAN Contribution & Employer Match
ARDENT HEALTH SERVICES RETIREMENT SAVINGS PLAN Contribution & Employer Match
AHS MANAGEMENT COMPANY, INC. provides the following retirement savings benefits to its employees:
ARDENT HEALTH SERVICES RETIREMENT SAVINGS PLAN Average Participant Retirement Account Value
ARDENT HEALTH SERVICES RETIREMENT SAVINGS PLAN Estimated Average Employee Contribution Amount
232,496.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 3,632.00 in ARDENT HEALTH SERVICES RETIREMENT SAVINGS 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 ARDENT HEALTH SERVICES RETIREMENT SAVINGS 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’.
ARDENT HEALTH SERVICES RETIREMENT SAVINGS PLAN Total Employer Contribution and Match Rate
ARDENT HEALTH SERVICES RETIREMENT SAVINGS PLAN Estimated Average Employer Match
Investing in this additonal $1,676.00 for 20 years would give you extra $107,311.00, assuming a 10% annual return.
ARDENT HEALTH SERVICES RETIREMENT SAVINGS PLAN Contribution & Match Policy
1. Employee Contribution Rates: Participants may contribute up to 99% of compensation, with a minimum contribution of 1% of compensation.
2. Employer Match/Contribution Conditions: The Plan Sponsor matches 100% of each participant's contributions up to 3% of compensation, and 50% of contributions exceeding 3% up to 5% of compensation.
3. Vesting Schedule/Eligibility: Participants are immediately vested in their elective salary deferral and safe harbor matching contributions. For discretionary profit sharing contributions, participants vest 20% after one year of service and 20% each year thereafter until 100% vested after five years of service. Participants become fully vested if employed by the Plan Sponsor on or after age 65, incur a total and permanent disability, or die while employed.
4. Roth 401(k) Contribution: Participants may elect to make their contributions on an after-tax basis in the form of Roth contributions.
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