ENDEAVOR AIR SAVINGS PLAN Contribution & Employer Match
ENDEAVOR AIR SAVINGS PLAN Contribution & Employer Match
ENDEAVOR AIR, INC. provides the following retirement savings benefits to its employees:
ENDEAVOR AIR SAVINGS PLAN Average Participant Retirement Account Value
ENDEAVOR AIR SAVINGS PLAN Estimated Average Employee Contribution Amount
206,389.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 3,224.00 in ENDEAVOR AIR SAVINGS 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 ENDEAVOR AIR SAVINGS 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’.
ENDEAVOR AIR SAVINGS PLAN Total Employer Contribution and Match Rate
ENDEAVOR AIR SAVINGS PLAN Estimated Average Employer Match
Investing in this additonal $1,576.00 for 20 years would give you extra $100,870.00, assuming a 10% annual return.
ENDEAVOR AIR SAVINGS PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute up to 90% of their eligible compensation to the plan.
2. Employer Match/Contribution Conditions: The employer matches contributions based on years of service, with matching percentages of 100% of the first 3% for less than 5 years, 100% of the first 5% for 5 to less than 10 years, 100% of the first 8% for 10 to less than 15 years, 100% of the first 10% for 15 to less than 20 years, and 100% of the first 12.5% for 20 years or more.
3. Vesting Schedule/Eligibility: Participants are immediately vested in their deferral contributions and discretionary profit sharing contributions. Employer matching contributions vest 25% after two years, with an additional 25% each year, reaching 100% vesting after five years of credited service. Participants are also 100% vested in all account balances in the event of death, disability, or reaching early retirement age.
4. Yes, the plan allows Roth 401(k) contributions.
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