CAPITOL SECURITIES MANAGEMENT, INC. 401(K) PLAN Contribution & Employer Match
CAPITOL SECURITIES MANAGEMENT, INC. 401(K) PLAN Contribution & Employer Match
CAPITOL SECURITIES MANAGEMENT, INC. provides the following retirement savings benefits to its employees:
CAPITOL SECURITIES MANAGEMENT, INC. 401(K) PLAN Average Participant Retirement Account Value
CAPITOL SECURITIES MANAGEMENT, INC. 401(K) PLAN Estimated Average Employee Contribution Amount
354,555.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 5,539.00 in CAPITOL SECURITIES MANAGEMENT, INC. 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 CAPITOL SECURITIES MANAGEMENT, INC. 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’.
CAPITOL SECURITIES MANAGEMENT, INC. 401(K) PLAN Total Employer Contribution and Match Rate
CAPITOL SECURITIES MANAGEMENT, INC. 401(K) PLAN Estimated Average Employer Match
Investing in this additonal $1,514.00 for 20 years would give you extra $96,903.00, assuming a 10% annual return.
CAPITOL SECURITIES MANAGEMENT, INC. 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute up to 100% of their pretax annual compensation, subject to Internal Revenue Code limitations.
2. Employer Match/Contribution Conditions: The employer may make a discretionary matching contribution equal to 50% of elective deferrals for the first 5% of compensation.
3. Vesting Schedule/Eligibility: Vesting in the employer's matching contribution is based on years of continuous service. Participants are immediately vested in their voluntary and rollover contributions. The vesting percentages for employer contributions are: less than 2 years - 0%, 2 years - 20%, 3 years - 40%, 4 years - 60%, 5 years - 80%, 6 years - 100%.
4. Roth 401(k) Contribution: Participants may also make post-tax Roth deferrals.
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