AUGUSTA ENT, P. C. 401K PROFIT SHARING PLAN Contribution & Employer Match

AUGUSTA ENT, P. C. 401K PROFIT SHARING PLAN Contribution & Employer Match

AUGUSTA ENT, P. C. provides the following retirement savings benefits to its employees:

AUGUSTA ENT, P. C. 401K PROFIT SHARING PLAN Average Participant Retirement Account Value

In 2022, the average participant retirement account value for AUGUSTA ENT, P. C. 401K PROFIT SHARING PLAN is $90,651.00

AUGUSTA ENT, P. C. 401K PROFIT SHARING PLAN Estimated Average Employee Contribution Amount

In 2022, the estimated average employee contribution amount per participant for AUGUSTA ENT, P. C. 401K PROFIT SHARING PLAN is $2,472.00. 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.
158,212.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 2,472.00 in AUGUSTA ENT, P. C. 401K PROFIT SHARING 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 AUGUSTA ENT, P. C. 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’.

AUGUSTA ENT, P. C. 401K PROFIT SHARING PLAN Total Employer Contribution and Match Rate

In 2022, AUGUSTA ENT, P. C. 401K PROFIT SHARING PLAN allocates $828,584.00 to match its employees' contributions, providing an employer match rate of 132.74% of their contributions

AUGUSTA ENT, P. C. 401K PROFIT SHARING PLAN Estimated Average Employer Match

In 2022, the estimated average employer match for an employee in AUGUSTA ENT, P. C. 401K PROFIT SHARING PLAN is approximately $3,103.00
Investing in this additonal $3,103.00 for 20 years would give you extra $198,611.00, assuming a 10% annual return.

AUGUSTA ENT, P. C. 401K PROFIT SHARING PLAN Contribution & Match Policy

1. Employee Contribution Rates: Each year, participants may contribute up to the maximum amount allowed by law.

2. Employer Match/Contribution Conditions: The Practice contributes a safe harbor matching contribution of 3 percent of eligible compensation that a participant contributes to the Plan.

3. Vesting Schedule/Eligibility: Participants are vested immediately in their voluntary contributions and Practice safe harbor matching contributions. Vesting in the Practice's profit sharing contributions is based on years of continuous service, with 100 percent vesting occurring over 6 years of credited service.

4. It allows Roth 401(k) contributions.

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