HABUSH HABUSH & ROTTIER, S.C. 401(K) SAVINGS PLAN Contribution & Employer Match

HABUSH HABUSH & ROTTIER, S.C. 401(K) SAVINGS PLAN Contribution & Employer Match

HABUSH HABUSH & ROTTIER, S.C. provides the following retirement savings benefits to its employees:

HABUSH HABUSH & ROTTIER, S.C. 401(K) SAVINGS PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for HABUSH HABUSH & ROTTIER, S.C. 401(K) SAVINGS PLAN is $262,562.00

HABUSH HABUSH & ROTTIER, S.C. 401(K) SAVINGS PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for HABUSH HABUSH & ROTTIER, S.C. 401(K) SAVINGS PLAN is $5,447.00. 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.
348,634.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 5,447.00 in HABUSH HABUSH & ROTTIER, S.C. 401(K) 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 HABUSH HABUSH & ROTTIER, S.C. 401(K) 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’.

HABUSH HABUSH & ROTTIER, S.C. 401(K) SAVINGS PLAN Total Employer Contribution and Match Rate

In 2023, HABUSH HABUSH & ROTTIER, S.C. 401(K) SAVINGS PLAN allocates $1,365,357.00 to match its employees' contributions, providing an employer match rate of 132.97% of their contributions

HABUSH HABUSH & ROTTIER, S.C. 401(K) SAVINGS PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in HABUSH HABUSH & ROTTIER, S.C. 401(K) SAVINGS PLAN is approximately $6,895.00
Investing in this additonal $6,895.00 for 20 years would give you extra $441,327.00, assuming a 10% annual return.

HABUSH HABUSH & ROTTIER, S.C. 401(K) SAVINGS PLAN Contribution & Match Policy

1. Employee Contribution Rates: Participants may make contributions that may not exceed 50% of their annual base pay.

2. Employer Match/Contribution Conditions: The Company provides non-elective contributions to employees who are 21 years of age, have completed one year of service, and are employed on the last day of the year. Additional profit-sharing contributions may be made at the Company's option.

3. Vesting Schedule/Eligibility: Participants are 0% vested with less than three years of service and 100% vested with three or more years of service. Participants become 100% vested in the event of death or disability.

4. Roth 401(k) Contribution: The plan allows Roth contributions.

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