HUSCH BLACKWELL LLP 401(K) PLAN Contribution & Employer Match
HUSCH BLACKWELL LLP 401(K) PLAN Contribution & Employer Match
HUSCH BLACKWELL LLP provides the following retirement savings benefits to its employees:
HUSCH BLACKWELL LLP 401(K) PLAN Average Participant Retirement Account Value
HUSCH BLACKWELL LLP 401(K) PLAN Estimated Average Employee Contribution Amount
712,101.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 11,126.00 in HUSCH BLACKWELL LLP 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 HUSCH BLACKWELL LLP 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’.
HUSCH BLACKWELL LLP 401(K) PLAN Total Employer Contribution and Match Rate
HUSCH BLACKWELL LLP 401(K) PLAN Estimated Average Employer Match
Investing in this additonal $11,124.00 for 20 years would give you extra $711,980.00, assuming a 10% annual return.
HUSCH BLACKWELL LLP 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Participants may elect to contribute a portion of their compensation, as defined in the Plan Document, not to exceed limitations specified by the IRS.
2. Employer Match/Contribution Conditions: The Firm may make a three percent non-elective contribution for participants and may also make an additional discretionary contribution, which ranges from 3% to slightly higher than 10% of covered compensation.
3. Vesting Schedule/Eligibility: All participants are 100% vested in their contributions and the Firm’s contributions. Individuals are eligible to begin receiving Firm contributions as of the January 1 or July 1 entry date following the completion of one year of service, which requires at least 1,000 hours of service with the Firm during that year.
4. Roth 401(k) Contribution: Yes, the Plan allows for Roth contributions.
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