ARKANSAS METHODIST HOSPITAL RETIREMENT TRUST Contribution & Employer Match

ARKANSAS METHODIST HOSPITAL RETIREMENT TRUST Contribution & Employer Match

ARKANSAS METHODIST HOSPITAL provides the following retirement savings benefits to its employees:

ARKANSAS METHODIST HOSPITAL RETIREMENT TRUST Average Participant Retirement Account Value

In 2023, the average participant retirement account value for ARKANSAS METHODIST HOSPITAL RETIREMENT TRUST is $35,099.00

ARKANSAS METHODIST HOSPITAL RETIREMENT TRUST Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for ARKANSAS METHODIST HOSPITAL RETIREMENT TRUST is $2,560.00. 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.
163,851.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 2,560.00 in ARKANSAS METHODIST HOSPITAL RETIREMENT TRUST, 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 ARKANSAS METHODIST HOSPITAL RETIREMENT TRUST

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’.

ARKANSAS METHODIST HOSPITAL RETIREMENT TRUST Total Employer Contribution and Match Rate

In 2023, ARKANSAS METHODIST HOSPITAL RETIREMENT TRUST allocates $515,516.00 to match its employees' contributions, providing an employer match rate of 29.66% of their contributions

ARKANSAS METHODIST HOSPITAL RETIREMENT TRUST Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in ARKANSAS METHODIST HOSPITAL RETIREMENT TRUST is approximately $732.00
Investing in this additonal $732.00 for 20 years would give you extra $46,865.00, assuming a 10% annual return.

ARKANSAS METHODIST HOSPITAL RETIREMENT TRUST Contribution & Match Policy

1. Employee Contribution Rates: Participants can contribute up to 75 percent of pretax annual compensation.

2. Employer Match/Contribution Conditions: The employer makes discretionary matching contributions of 50 percent of the participant’s deferral up to a maximum.

3. Vesting Schedule/Eligibility: Participants are vested immediately in all contributions made to the Plan, plus earnings or losses therein. Eligibility requires employees to be at least 18 years of age and have completed three months of eligible service.

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