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FMSBONDS, INC. EMPLOYEES' 401(K) PROFIT SHARING PLAN & TRUST Contribution & Employer Match

FMSBONDS, INC. EMPLOYEES' 401(K) PROFIT SHARING PLAN & TRUST Contribution & Employer Match

FMSBONDS, INC. provides the following retirement savings benefits to its employees:

FMSBONDS, INC. EMPLOYEES' 401(K) PROFIT SHARING PLAN & TRUST Average Participant Retirement Account Value

In 2023, the average participant retirement account value for FMSBONDS, INC. EMPLOYEES' 401(K) PROFIT SHARING PLAN & TRUST is $380,277.00

FMSBONDS, INC. EMPLOYEES' 401(K) PROFIT SHARING PLAN & TRUST Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for FMSBONDS, INC. EMPLOYEES' 401(K) PROFIT SHARING PLAN & TRUST is $10,564.00. 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.
676,118.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 10,564.00 in FMSBONDS, INC. EMPLOYEES' 401(K) PROFIT SHARING PLAN & TRUST, 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 FMSBONDS, INC. EMPLOYEES' 401(K) PROFIT SHARING PLAN & TRUST

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’.

FMSBONDS, INC. EMPLOYEES' 401(K) PROFIT SHARING PLAN & TRUST Total Employer Contribution and Match Rate

In 2023, FMSBONDS, INC. EMPLOYEES' 401(K) PROFIT SHARING PLAN & TRUST allocates $388,795.00 to match its employees' contributions, providing an employer match rate of 27.67% of their contributions

FMSBONDS, INC. EMPLOYEES' 401(K) PROFIT SHARING PLAN & TRUST Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in FMSBONDS, INC. EMPLOYEES' 401(K) PROFIT SHARING PLAN & TRUST is approximately $2,858.00
Investing in this additonal $2,858.00 for 20 years would give you extra $182,962.00, assuming a 10% annual return.

FMSBONDS, INC. EMPLOYEES' 401(K) PROFIT SHARING PLAN & TRUST Contribution & Match Policy

1. Employee Contribution Rates: Employees can contribute a specific percentage or dollar amount up to the maximum statutory amount allowed as an elected deferral.

2. Employer Match/Contribution Conditions: The employer may make discretionary matching contributions up to 50% of the first $2,000 of compensation that a participant contributes. Participants must attain the age of 18 and complete twelve (12) months of service with a minimum of 1,000 hours of service to be eligible for the matching contribution.

3. Vesting Schedule/Eligibility: Participants are 100% vested in their contributions plus actual earnings. Vesting in the employer’s matching and profit-sharing contributions is based on years of continuous service, with full vesting after six years of continuous service.

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