CIRCLE INTERNET SERVICES, INC. 401(K) PLAN Contribution & Employer Match
CIRCLE INTERNET SERVICES, INC. 401(K) PLAN Contribution & Employer Match
CIRCLE INTERNET SERVICES, INC. DBA CIRCLECI provides the following retirement savings benefits to its employees:
CIRCLE INTERNET SERVICES, INC. 401(K) PLAN Average Participant Retirement Account Value
CIRCLE INTERNET SERVICES, INC. 401(K) PLAN Estimated Average Employee Contribution Amount
551,644.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 8,619.00 in CIRCLE INTERNET SERVICES, 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 CIRCLE INTERNET SERVICES, 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’.
CIRCLE INTERNET SERVICES, INC. 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute up to $20,500 for 2022 ($27,000 for those age 50 or over).
2. Employer Match/Contribution Conditions: Participants must attain age 21 and complete three months of service to receive matching contributions. For non-elective contributions, participants must attain age 21, complete one year of service, and be employed on the last day of the Plan year.
3. Vesting Schedule/Eligibility: Participants vest in Plan sponsor contributions at the rate of 25% after two years of service, 75% after three years of service, and 100% after four years of service. Eligibility requires participants to attain age 21.
4. Roth 401(k) Contribution: Roth contributions are permitted under the Plan.
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