CHRISTY EMPLOYEES' PROFIT SHARING PLAN AND TRUST Contribution & Employer Match

CHRISTY EMPLOYEES' PROFIT SHARING PLAN AND TRUST Contribution & Employer Match

O'BRIEN INDUSTRIAL HOLDINGS, LLC provides the following retirement savings benefits to its employees:

CHRISTY EMPLOYEES' PROFIT SHARING PLAN AND TRUST Average Participant Retirement Account Value

In 2023, the average participant retirement account value for CHRISTY EMPLOYEES' PROFIT SHARING PLAN AND TRUST is $107,552.00

CHRISTY EMPLOYEES' PROFIT SHARING PLAN AND TRUST Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for CHRISTY EMPLOYEES' PROFIT SHARING PLAN AND TRUST is $4,375.00. 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.
280,044.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 4,375.00 in CHRISTY EMPLOYEES' PROFIT SHARING PLAN AND 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 CHRISTY EMPLOYEES' PROFIT SHARING PLAN AND 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’.

CHRISTY EMPLOYEES' PROFIT SHARING PLAN AND TRUST Total Employer Contribution and Match Rate

In 2023, CHRISTY EMPLOYEES' PROFIT SHARING PLAN AND TRUST allocates $522,698.00 to match its employees' contributions, providing an employer match rate of 68.26% of their contributions

CHRISTY EMPLOYEES' PROFIT SHARING PLAN AND TRUST Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in CHRISTY EMPLOYEES' PROFIT SHARING PLAN AND TRUST is approximately $3,111.00
Investing in this additonal $3,111.00 for 20 years would give you extra $199,123.00, assuming a 10% annual return.

CHRISTY EMPLOYEES' PROFIT SHARING PLAN AND TRUST Contribution & Match Policy

1. Employee Contribution Rates: Participants may contribute up to 100% of their annual compensation.

2. Employer Match/Contribution Conditions: The plan provides for safe harbor employer contributions equal to 3% of eligible compensation and discretionary contributions equal to 2% of eligible compensation; highly compensated employees receive a discretionary contribution set at 5% of eligible compensation.

3. Vesting Schedule/Eligibility: Participants are immediately vested in their voluntary contributions, employer safe harbor contributions, discretionary employer contributions, and actual earnings thereon. Employees become eligible to participate upon obtaining one month of service.

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