COCKRELL INTERESTS THRIFT PLAN Contribution & Employer Match
COCKRELL INTERESTS THRIFT PLAN Contribution & Employer Match
COCKRELL INTERESTS LLC provides the following retirement savings benefits to its employees:
COCKRELL INTERESTS THRIFT PLAN Average Participant Retirement Account Value
COCKRELL INTERESTS THRIFT PLAN Estimated Average Employee Contribution Amount
514,751.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 8,042.00 in COCKRELL INTERESTS THRIFT 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 COCKRELL INTERESTS THRIFT 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’.
COCKRELL INTERESTS THRIFT PLAN Total Employer Contribution and Match Rate
COCKRELL INTERESTS THRIFT PLAN Estimated Average Employer Match
Investing in this additonal $5,508.00 for 20 years would give you extra $352,523.00, assuming a 10% annual return.
COCKRELL INTERESTS THRIFT PLAN Contribution & Match Policy
1. Employee Contribution Rates: Participants may elect to contribute up to 50% of their compensation.
2. Employer Match/Contribution Conditions: Cockrell may make a discretionary employer matching contribution equal to 100% of the employee’s elective deferral not exceeding 8% of the employee’s compensation.
3. Vesting Schedule/Eligibility: Participants become 25% vested in employer contributions after two years of credited service and vest 25% per year thereafter, becoming 100% vested after five years of credited service.
4. Roth 401(k) Contribution: Participants may elect to designate some or all of their deferral contributions as a Roth after-tax contribution.
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