CHRISTIANA CARE 403(B) PLAN Contribution & Employer Match
CHRISTIANA CARE 403(B) PLAN Contribution & Employer Match
CHRISTIANA CARE HEALTH SERVICES INC provides the following retirement savings benefits to its employees:
CHRISTIANA CARE 403(B) PLAN Average Participant Retirement Account Value
CHRISTIANA CARE 403(B) PLAN Estimated Average Employee Contribution Amount
347,157.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 5,424.00 in CHRISTIANA CARE 403(B) 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 CHRISTIANA CARE 403(B) 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’.
CHRISTIANA CARE 403(B) PLAN Total Employer Contribution and Match Rate
CHRISTIANA CARE 403(B) PLAN Estimated Average Employer Match
Investing in this additonal $1,516.00 for 20 years would give you extra $97,033.00, assuming a 10% annual return.
CHRISTIANA CARE 403(B) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Up to 75% of annual eligible compensation.
2. Employer Match/Contribution Conditions: 50% of employee contributions up to 6% of employee compensation.
3. Vesting Schedule/Eligibility: 100% vested after three years of credited service; eligibility for employer matching contributions requires completion of one year of service and attainment of 21 years of age.
4. Roth 401(k) contribution: Yes, participants may designate contributions as pre-tax or Roth.
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