ASSOCIATES IN NEPHROLOGY, S.C. 401(K) PLAN Contribution & Employer Match
ASSOCIATES IN NEPHROLOGY, S.C. 401(K) PLAN Contribution & Employer Match
ASSOCIATES IN NEPHROLOGY, S.C. provides the following retirement savings benefits to its employees:
ASSOCIATES IN NEPHROLOGY, S.C. 401(K) PLAN Average Participant Retirement Account Value
ASSOCIATES IN NEPHROLOGY, S.C. 401(K) PLAN Estimated Average Employee Contribution Amount
426,794.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 6,668.00 in ASSOCIATES IN NEPHROLOGY, S.C. 401(K) 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 ASSOCIATES IN NEPHROLOGY, S.C. 401(K) 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’.
ASSOCIATES IN NEPHROLOGY, S.C. 401(K) PLAN Total Employer Contribution and Match Rate
ASSOCIATES IN NEPHROLOGY, S.C. 401(K) PLAN Estimated Average Employer Match
Investing in this additonal $8,118.00 for 20 years would give you extra $519,559.00, assuming a 10% annual return.
ASSOCIATES IN NEPHROLOGY, S.C. 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute from 1% up to 50% of their pre-tax annual compensation.
2. Employer Match/Contribution Conditions: The employer contributes 50% of the first 6% of base compensation that a participant contributes to the Plan.
3. Vesting Schedule/Eligibility: Employees vest in the Company-matching and profit-sharing contributions based on continuous years of service as follows: Less than two years - 0%, Two years - 20%, Three years - 40%, Four years - 60%, Five years - 80%, Six years - 100%. Eligibility requires one year of service.
4. It allows Roth 401(k) contributions.
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