HIGH BRIDGE ASSOCIATES, INC. 401(K) PLAN Contribution & Employer Match
HIGH BRIDGE ASSOCIATES, INC. 401(K) PLAN Contribution & Employer Match
HIGH BRIDGE ASSOCIATES, INC. provides the following retirement savings benefits to its employees:
HIGH BRIDGE ASSOCIATES, INC. 401(K) PLAN Average Participant Retirement Account Value
HIGH BRIDGE ASSOCIATES, INC. 401(K) PLAN Estimated Average Employee Contribution Amount
240,922.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 3,764.00 in HIGH BRIDGE ASSOCIATES, INC. 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 HIGH BRIDGE ASSOCIATES, INC. 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’.
HIGH BRIDGE ASSOCIATES, INC. 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Up to 100% of their annual earnings.
2. Employer Match/Contribution Conditions: Discretionary matching contributions may be made on behalf of eligible participants; no discretionary matching contributions were made for the year ended December 31, 2021.
3. Vesting Schedule/Eligibility: Vesting in the Company’s discretionary matching contributions is as follows: Less than 1 year (0%), 1 year (20%), 2 years (40%), 3 years (60%), 4 years (80%), 5 years (100%). Participants also become 100% vested upon termination of the Plan, upon reaching the early retirement age of fifty-five years old, or upon disability or death while an employee of the Plan Sponsor.
4. Roth 401(k) contributions: Allowed.
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