HARLEY-DAVIDSON RETIREMENT SAVINGS PLAN FOR YORK HOURLY BARGAINING UNIT EES Contribution & Employer Match

HARLEY-DAVIDSON RETIREMENT SAVINGS PLAN FOR YORK HOURLY BARGAINING UNIT EES Contribution & Employer Match

HARLEY-DAVIDSON MOTOR COMPANY GROUP, LLC provides the following retirement savings benefits to its employees:

HARLEY-DAVIDSON RETIREMENT SAVINGS PLAN FOR YORK HOURLY BARGAINING UNIT EES Average Participant Retirement Account Value

In 2023, the average participant retirement account value for HARLEY-DAVIDSON RETIREMENT SAVINGS PLAN FOR YORK HOURLY BARGAINING UNIT EES is $52,901.00

HARLEY-DAVIDSON RETIREMENT SAVINGS PLAN FOR YORK HOURLY BARGAINING UNIT EES Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for HARLEY-DAVIDSON RETIREMENT SAVINGS PLAN FOR YORK HOURLY BARGAINING UNIT EES is $3,184.00. 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.
203,778.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 3,184.00 in HARLEY-DAVIDSON RETIREMENT SAVINGS PLAN FOR YORK HOURLY BARGAINING UNIT EES, 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 HARLEY-DAVIDSON RETIREMENT SAVINGS PLAN FOR YORK HOURLY BARGAINING UNIT EES

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’.

HARLEY-DAVIDSON RETIREMENT SAVINGS PLAN FOR YORK HOURLY BARGAINING UNIT EES Total Employer Contribution and Match Rate

In 2023, HARLEY-DAVIDSON RETIREMENT SAVINGS PLAN FOR YORK HOURLY BARGAINING UNIT EES allocates $2,404,697.00 to match its employees' contributions, providing an employer match rate of 49.39% of their contributions

HARLEY-DAVIDSON RETIREMENT SAVINGS PLAN FOR YORK HOURLY BARGAINING UNIT EES Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in HARLEY-DAVIDSON RETIREMENT SAVINGS PLAN FOR YORK HOURLY BARGAINING UNIT EES is approximately $1,362.00
Investing in this additonal $1,362.00 for 20 years would give you extra $87,195.00, assuming a 10% annual return.

HARLEY-DAVIDSON RETIREMENT SAVINGS PLAN FOR YORK HOURLY BARGAINING UNIT EES Contribution & Match Policy

1. Employee Contribution Rates: Participants may defer a portion of their compensation on a pre-tax basis, and the maximum amount that participants may defer is determined by the plan sponsor, subject to limitations under the Internal Revenue Code.

2. Employer Match/Contribution Conditions: The employer matches participant contributions up to 6% of eligible compensation, with a matching contribution of up to $0.50 or $0.75 per dollar of participant contributions, depending on the date of hire and/or employment location. Participants who do not participate in the qualified pension plan receive an employer retirement cash contribution of 2% or 4% of eligible pay, also depending on the date of hire and/or employment location.

3. Vesting Schedule/Eligibility: Participants are immediately vested in 100% of their contributions. They vest 100% in Company contributions after completing three years of vesting service, with at least 1,000 hours of service in each year. Participants are 100% vested in their account if they terminate due to death, disability, or if they are aged 65.

4. It allows Roth 401(k) contributions.

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