CENTERBRIDGE PARTNERS, L.P. INCENTIVE SAVINGS TRUST Contribution & Employer Match

CENTERBRIDGE PARTNERS, L.P. INCENTIVE SAVINGS TRUST Contribution & Employer Match

CENTERBRIDGE PARTNERS, L.P. provides the following retirement savings benefits to its employees:

CENTERBRIDGE PARTNERS, L.P. INCENTIVE SAVINGS TRUST Average Participant Retirement Account Value

In 2023, the average participant retirement account value for CENTERBRIDGE PARTNERS, L.P. INCENTIVE SAVINGS TRUST is $279,217.00

CENTERBRIDGE PARTNERS, L.P. INCENTIVE SAVINGS TRUST Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for CENTERBRIDGE PARTNERS, L.P. INCENTIVE SAVINGS TRUST is $11,564.00. 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.
740,149.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 11,564.00 in CENTERBRIDGE PARTNERS, L.P. INCENTIVE SAVINGS 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 CENTERBRIDGE PARTNERS, L.P. INCENTIVE SAVINGS 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’.

CENTERBRIDGE PARTNERS, L.P. INCENTIVE SAVINGS TRUST Total Employer Contribution and Match Rate

In 2023, CENTERBRIDGE PARTNERS, L.P. INCENTIVE SAVINGS TRUST allocates $5,266,754.00 to match its employees' contributions, providing an employer match rate of 122.75% of their contributions

CENTERBRIDGE PARTNERS, L.P. INCENTIVE SAVINGS TRUST Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in CENTERBRIDGE PARTNERS, L.P. INCENTIVE SAVINGS TRUST is approximately $13,823.00
Investing in this additonal $13,823.00 for 20 years would give you extra $884,704.00, assuming a 10% annual return.

CENTERBRIDGE PARTNERS, L.P. INCENTIVE SAVINGS TRUST Contribution & Match Policy

1. Employee Contribution Rates: Employees can contribute up to 75% of their eligible compensation, up to the Internal Revenue Code maximum allowance of $20,500 in 2022.

2. Employer Match/Contribution Conditions: The employer provides a 3% safe harbor non-elective contribution annually for all non-highly compensated participants and may also provide discretionary non-elective contributions ranging from 2% to 10.28% for non-highly compensated and 2.57% to 11.31% for highly compensated individuals, based on individual allocation groups. Participants must have completed three months of service and be employed as of the last day of the Plan year to be eligible for these contributions.

3. Vesting Schedule/Eligibility: Participants are always fully vested in the value of their own contributions and the employer’s contributions. To receive safe harbor non-elective employer contributions and discretionary contributions, participants must have completed three months of service.

4. The Plan allows for Roth contributions.

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