HCL AMERICA SOLUTIONS 401(K) PLAN Contribution & Employer Match
HCL AMERICA SOLUTIONS 401(K) PLAN Contribution & Employer Match
HCL AMERICA SOLUTIONS, INC. provides the following retirement savings benefits to its employees:
HCL AMERICA SOLUTIONS 401(K) PLAN Average Participant Retirement Account Value
HCL AMERICA SOLUTIONS 401(K) PLAN Estimated Average Employee Contribution Amount
147,050.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 2,297.00 in HCL AMERICA SOLUTIONS 401(K) PLAN, assuming a 10%* annual return.
2023 & 2024 401(k) contribution limits by IRS
| Pretax and roth employee contributions | Employee and employer contributions combined | Catch-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 HCL AMERICA SOLUTIONS 401(K) 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’.
HCL AMERICA SOLUTIONS 401(K) PLAN Total Employer Contribution and Match Rate
HCL AMERICA SOLUTIONS 401(K) PLAN Estimated Average Employer Match
Investing in this additonal $27.00 for 20 years would give you extra $1,776.00, assuming a 10% annual return.
HCL AMERICA SOLUTIONS 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: The Plan allows for ROTH deferral contributions, with participants able to contribute an amount of eligible pre-tax annual compensation not to exceed the maximum statutory amount.
2. Vesting Schedule/Eligibility: Participants are 100% vested in their contributions and rollover amounts. Participants are fully vested in the discretionary contribution after three years of credited service. They become fully vested in the event of death, disability, retirement age, or plan termination.
3. Roth 401(k) Contribution: Yes, the Plan allows for ROTH deferral contributions.
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