HOLLAND & HART RETIREMENT SAVINGS PLAN Contribution & Employer Match
HOLLAND & HART RETIREMENT SAVINGS PLAN Contribution & Employer Match
HOLLAND & HART LLP provides the following retirement savings benefits to its employees:
HOLLAND & HART RETIREMENT SAVINGS PLAN Average Participant Retirement Account Value
HOLLAND & HART RETIREMENT SAVINGS PLAN Estimated Average Employee Contribution Amount
651,820.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 10,184.00 in HOLLAND & HART RETIREMENT SAVINGS 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 HOLLAND & HART RETIREMENT 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’.
HOLLAND & HART RETIREMENT SAVINGS PLAN Total Employer Contribution and Match Rate
HOLLAND & HART RETIREMENT SAVINGS PLAN Estimated Average Employer Match
Investing in this additonal $9,238.00 for 20 years would give you extra $591,279.00, assuming a 10% annual return.
HOLLAND & HART RETIREMENT SAVINGS PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute between 2 percent and 75 percent of their annual eligible compensation, not to exceed $20,500 for 2022.
2. Employer Match/Contribution Conditions: The employer matches 60 percent of the first 7 percent of elected deferred compensation, not to exceed $12,300 per participant.
3. Vesting Schedule/Eligibility: Employer contributions vest according to the following schedule: 20% after 1 year, 40% after 2 years, 60% after 3 years, 80% after 4 years, and 100% after 5 years of service. Eligibility includes all regular employees and partners immediately upon employment, while seasonal or temporary employees must complete one year of service.
4. Roth 401(k) Contribution: The plan allows for Roth contributions.
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