I/N TEK AND I/N KOTE 401(K) SAVINGS PLAN FOR EMPLOYEES REPRESENTED BY UNITED STEEL WORKERS OF AMERICA UNION LOCAL 9231 Contribution & Employer Match
I/N TEK AND I/N KOTE 401(K) SAVINGS PLAN FOR EMPLOYEES REPRESENTED BY UNITED STEEL WORKERS OF AMERICA UNION LOCAL 9231 Contribution & Employer Match
I/N TEK AND I/N KOTE C/O ARCELORMIT TAL USA LLC provides the following retirement savings benefits to its employees:
I/N TEK AND I/N KOTE 401(K) SAVINGS PLAN FOR EMPLOYEES REPRESENTED BY UNITED STEEL WORKERS OF AMERICA UNION LOCAL 9231 Average Participant Retirement Account Value
I/N TEK AND I/N KOTE 401(K) SAVINGS PLAN FOR EMPLOYEES REPRESENTED BY UNITED STEEL WORKERS OF AMERICA UNION LOCAL 9231 Estimated Average Employee Contribution Amount
833,798.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 13,028.00 in I/N TEK AND I/N KOTE 401(K) SAVINGS PLAN FOR EMPLOYEES REPRESENTED BY UNITED STEEL WORKERS OF AMERICA UNION LOCAL 9231, 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 I/N TEK AND I/N KOTE 401(K) SAVINGS PLAN FOR EMPLOYEES REPRESENTED BY UNITED STEEL WORKERS OF AMERICA UNION LOCAL 9231
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’.
I/N TEK AND I/N KOTE 401(K) SAVINGS PLAN FOR EMPLOYEES REPRESENTED BY UNITED STEEL WORKERS OF AMERICA UNION LOCAL 9231 Contribution & Match Policy
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