HRC FERTILITY MANAGEMENT, LLC 401(K) PROFIT SHARING PLAN Contribution & Employer Match
HRC FERTILITY MANAGEMENT, LLC 401(K) PROFIT SHARING PLAN Contribution & Employer Match
HRC FERTILITY MANAGEMENT, LLC provides the following retirement savings benefits to its employees:
HRC FERTILITY MANAGEMENT, LLC 401(K) PROFIT SHARING PLAN Average Participant Retirement Account Value
HRC FERTILITY MANAGEMENT, LLC 401(K) PROFIT SHARING PLAN Estimated Average Employee Contribution Amount
208,339.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 3,255.00 in HRC FERTILITY MANAGEMENT, LLC 401(K) PROFIT SHARING 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 HRC FERTILITY MANAGEMENT, LLC 401(K) PROFIT SHARING 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’.
HRC FERTILITY MANAGEMENT, LLC 401(K) PROFIT SHARING PLAN Total Employer Contribution and Match Rate
HRC FERTILITY MANAGEMENT, LLC 401(K) PROFIT SHARING PLAN Estimated Average Employer Match
Investing in this additonal $3,424.00 for 20 years would give you extra $219,199.00, assuming a 10% annual return.
HRC FERTILITY MANAGEMENT, LLC 401(K) PROFIT SHARING PLAN Contribution & Match Policy
1. Employee Contribution Rates: Participants may contribute up to 50 percent of annual compensation (15 percent for highly compensated participants).
2. Employer Match/Contribution Conditions: The employer makes discretionary profit sharing contributions allocated to eligible participants who worked 1,000 hours or more during the Plan year and were employed on the last day of the Plan year.
3. Vesting Schedule/Eligibility: Participants are vested immediately in their contributions plus actual earnings. Vesting in the Company’s discretionary profit sharing portion is 20 percent after two years of service, with an additional 20 percent each year thereafter until fully vested at six years of service.
4. Roth 401(k) contribution: Yes, the plan allows for Roth deferrals.
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