EXYTE AMERICAS 401(K) RETIREMENT SAVINGS PLAN Contribution & Employer Match

EXYTE AMERICAS 401(K) RETIREMENT SAVINGS PLAN Contribution & Employer Match

EXYTE AMERICAS HOLDING, INC. provides the following retirement savings benefits to its employees:

EXYTE AMERICAS 401(K) RETIREMENT SAVINGS PLAN Average Participant Retirement Account Value

In 2022, the average participant retirement account value for EXYTE AMERICAS 401(K) RETIREMENT SAVINGS PLAN is $66,521.00

EXYTE AMERICAS 401(K) RETIREMENT SAVINGS PLAN Estimated Average Employee Contribution Amount

In 2022, the estimated average employee contribution amount per participant for EXYTE AMERICAS 401(K) RETIREMENT SAVINGS PLAN is $5,830.00. 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.
373,129.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 5,830.00 in EXYTE AMERICAS 401(K) RETIREMENT SAVINGS 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 EXYTE AMERICAS 401(K) RETIREMENT 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’.

EXYTE AMERICAS 401(K) RETIREMENT SAVINGS PLAN Total Employer Contribution and Match Rate

In 2022, EXYTE AMERICAS 401(K) RETIREMENT SAVINGS PLAN allocates $2,781,336.00 to match its employees' contributions, providing an employer match rate of 40.65% of their contributions

EXYTE AMERICAS 401(K) RETIREMENT SAVINGS PLAN Estimated Average Employer Match

In 2022, the estimated average employer match for an employee in EXYTE AMERICAS 401(K) RETIREMENT SAVINGS PLAN is approximately $2,580.00
Investing in this additonal $2,580.00 for 20 years would give you extra $165,125.00, assuming a 10% annual return.

EXYTE AMERICAS 401(K) RETIREMENT SAVINGS PLAN Contribution & Match Policy

1. Employee Contribution Rates: Up to 100% of eligible compensation, subject to the dollar limitation of the IRC.

2. Employer Match/Contribution Conditions: The Company matches 50% of employee contributions, up to the first 6% of eligible compensation. The discretionary matching contribution does not include a match on employee catch-up contributions.

3. Vesting Schedule/Eligibility: Participants are 100% vested after 3 years of credited service. Full and immediate vesting occurs upon attainment of normal retirement age (age 65), early retirement age (age 55 with 6 years of vesting service), death, or disability.

4. It allows Roth 401(k) contributions.

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