GRUBB MANAGEMENT, LLC 401(K) PROFIT SHARING PLAN Contribution & Employer Match

GRUBB MANAGEMENT, LLC 401(K) PROFIT SHARING PLAN Contribution & Employer Match

GRUBB MANAGEMENT, LLC provides the following retirement savings benefits to its employees:

GRUBB MANAGEMENT, LLC 401(K) PROFIT SHARING PLAN Average Participant Retirement Account Value

In 2022, the average participant retirement account value for GRUBB MANAGEMENT, LLC 401(K) PROFIT SHARING PLAN is $54,511.00

GRUBB MANAGEMENT, LLC 401(K) PROFIT SHARING PLAN Estimated Average Employee Contribution Amount

In 2022, the estimated average employee contribution amount per participant for GRUBB MANAGEMENT, LLC 401(K) PROFIT SHARING PLAN is $6,291.00. 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.
402,672.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 6,291.00 in GRUBB MANAGEMENT, LLC 401(K) PROFIT SHARING 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 GRUBB MANAGEMENT, LLC 401(K) PROFIT SHARING 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’.

GRUBB MANAGEMENT, LLC 401(K) PROFIT SHARING PLAN Total Employer Contribution and Match Rate

In 2022, GRUBB MANAGEMENT, LLC 401(K) PROFIT SHARING PLAN allocates $745,405.00 to match its employees' contributions, providing an employer match rate of 44.21% of their contributions

GRUBB MANAGEMENT, LLC 401(K) PROFIT SHARING PLAN Estimated Average Employer Match

In 2022, the estimated average employer match for an employee in GRUBB MANAGEMENT, LLC 401(K) PROFIT SHARING PLAN is approximately $2,791.00
Investing in this additonal $2,791.00 for 20 years would give you extra $178,673.00, assuming a 10% annual return.

GRUBB MANAGEMENT, LLC 401(K) PROFIT SHARING PLAN Contribution & Match Policy

1. Employee Contribution Rates: Employees can contribute up to 100% of their pre-tax annual compensation.

2. Employer Match/Contribution Conditions: The employer contributes 3% of a Participant’s compensation as a safe harbor, non-elective profit-sharing contribution to all eligible Participants. The employer may also elect to make an additional discretionary, non-elective profit-sharing contribution to Participants with three months of service or who are employed on the last day of the Plan year.

3. Vesting Schedule/Eligibility: Participants are immediately vested in their contributions and the safe harbor non-elective contributions, and are 100% vested in the employer’s discretionary non-elective contributions after five years of credited service.

4. Roth 401(k) Contribution: The plan includes a Roth contribution feature.

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