HARRY WINSTON, INC. SAVINGS PLAN Contribution & Employer Match

HARRY WINSTON, INC. SAVINGS PLAN Contribution & Employer Match

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

HARRY WINSTON, INC. SAVINGS PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for HARRY WINSTON, INC. SAVINGS PLAN is $117,851.00

HARRY WINSTON, INC. SAVINGS PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for HARRY WINSTON, INC. SAVINGS PLAN is $8,706.00. 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.
557,192.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 8,706.00 in HARRY WINSTON, INC. 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 HARRY WINSTON, INC. 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’.

HARRY WINSTON, INC. SAVINGS PLAN Total Employer Contribution and Match Rate

In 2023, HARRY WINSTON, INC. SAVINGS PLAN allocates $2,673,921.00 to match its employees' contributions, providing an employer match rate of 47.88% of their contributions

HARRY WINSTON, INC. SAVINGS PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in HARRY WINSTON, INC. SAVINGS PLAN is approximately $3,914.00
Investing in this additonal $3,914.00 for 20 years would give you extra $250,557.00, assuming a 10% annual return.

HARRY WINSTON, INC. SAVINGS PLAN Contribution & Match Policy

1. Employee Contribution Rates: Participants may contribute between 2% and 90% of pretax annual compensation, up to an annual maximum as determined by the IRS.

2. Employer Match/Contribution Conditions: The employer matches 100% of the first 6% of base compensation that a participant contributes to the Plan. Employer contributions will be made in a lump sum at the end of each January following a calendar year in which the employee has worked at least 1,000 hours and is employed on December 31 immediately preceding the contribution.

3. Vesting Schedule/Eligibility: Participants are 100% vested in their contributions plus actual earnings immediately. Vesting in the employer's contributions is based on years of continuous service, with participants becoming 100% vested after two years of credited service.

4. Roth 401(k) Contribution: The plan allows participants to make Roth 401(k) deferrals.

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