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CNL FINANCIAL GROUP SUBSIDIARIES AND AFFILIATES EMPLOYEE RETIREMENT PLAN Contribution & Employer Match

CNL FINANCIAL GROUP SUBSIDIARIES AND AFFILIATES EMPLOYEE RETIREMENT PLAN Contribution & Employer Match

CNL FINANCIAL GROUP INVESTMENT MANAGEMENT, LLC provides the following retirement savings benefits to its employees:

CNL FINANCIAL GROUP SUBSIDIARIES AND AFFILIATES EMPLOYEE RETIREMENT PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for CNL FINANCIAL GROUP SUBSIDIARIES AND AFFILIATES EMPLOYEE RETIREMENT PLAN is $201,387.00

CNL FINANCIAL GROUP SUBSIDIARIES AND AFFILIATES EMPLOYEE RETIREMENT PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for CNL FINANCIAL GROUP SUBSIDIARIES AND AFFILIATES EMPLOYEE RETIREMENT PLAN is $7,262.00. 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.
464,774.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 7,262.00 in CNL FINANCIAL GROUP SUBSIDIARIES AND AFFILIATES EMPLOYEE RETIREMENT PLAN, 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 CNL FINANCIAL GROUP SUBSIDIARIES AND AFFILIATES EMPLOYEE RETIREMENT 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’.

CNL FINANCIAL GROUP SUBSIDIARIES AND AFFILIATES EMPLOYEE RETIREMENT PLAN Total Employer Contribution and Match Rate

In 2023, CNL FINANCIAL GROUP SUBSIDIARIES AND AFFILIATES EMPLOYEE RETIREMENT PLAN allocates $681,663.00 to match its employees' contributions, providing an employer match rate of 34.70% of their contributions

CNL FINANCIAL GROUP SUBSIDIARIES AND AFFILIATES EMPLOYEE RETIREMENT PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in CNL FINANCIAL GROUP SUBSIDIARIES AND AFFILIATES EMPLOYEE RETIREMENT PLAN is approximately $2,591.00
Investing in this additonal $2,591.00 for 20 years would give you extra $165,879.00, assuming a 10% annual return.

CNL FINANCIAL GROUP SUBSIDIARIES AND AFFILIATES EMPLOYEE RETIREMENT PLAN Contribution & Match Policy

1. Employee Contribution Rates: Employees can contribute up to 90% of their salary to the plan.

2. Employer Match/Contribution Conditions: The employer matches 50% of each participant’s contribution, up to a maximum of 7% of compensation, after six months of service.

3. Vesting Schedule/Eligibility: Participants are immediately vested in their voluntary contributions plus actual earnings or losses. Vesting in the Company’s contributions is 25% per year of service after the first year, becoming fully vested after 4 years of credited service.

4. The plan allows Roth 401(k) contributions.

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