INTEGRITY EMPLOYEE LEASING RETIREMENT PLAN Contribution & Employer Match
INTEGRITY EMPLOYEE LEASING RETIREMENT PLAN Contribution & Employer Match
INTEGRITY EMPLOYEE LEASING, INC. provides the following retirement savings benefits to its employees:
INTEGRITY EMPLOYEE LEASING RETIREMENT PLAN Average Participant Retirement Account Value
INTEGRITY EMPLOYEE LEASING RETIREMENT PLAN Estimated Average Employee Contribution Amount
48,461.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 757.00 in INTEGRITY EMPLOYEE LEASING RETIREMENT 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 INTEGRITY EMPLOYEE LEASING RETIREMENT 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’.
INTEGRITY EMPLOYEE LEASING RETIREMENT PLAN Total Employer Contribution and Match Rate
INTEGRITY EMPLOYEE LEASING RETIREMENT PLAN Estimated Average Employer Match
Investing in this additonal $483.00 for 20 years would give you extra $30,936.00, assuming a 10% annual return.
INTEGRITY EMPLOYEE LEASING RETIREMENT PLAN Contribution & Match Policy
1. Employee Contribution Rates: Up to 100% of their pre-tax compensation, subject to IRS limitations.
2. Employer Match/Contribution Conditions: Participating Employers may make safe harbor profit-sharing or discretionary contributions, determined in accordance with their own formula and terms.
3. Vesting Schedule/Eligibility: Participants are immediately vested in their individual voluntary contributions and safe-harbor contributions. Vesting in the remainder is based on years of continuous service, with full vesting upon reaching normal retirement age (65), death, or becoming disabled.
4. Roth 401(k) contributions: Allowed if elected by Adopting Employers.
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