JOBCASE, INC. 401(K) PLAN Contribution & Employer Match
JOBCASE, INC. 401(K) PLAN Contribution & Employer Match
JOBCASE, INC. provides the following retirement savings benefits to its employees:
JOBCASE, INC. 401(K) PLAN Average Participant Retirement Account Value
JOBCASE, INC. 401(K) PLAN Estimated Average Employee Contribution Amount
502,118.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 7,845.00 in JOBCASE, INC. 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 JOBCASE, INC. 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’.
JOBCASE, INC. 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Participants may elect to defer up to ninety percent of their annual compensation.
2. Employer Match/Contribution Conditions: The Company may make matching contributions at its discretion; however, the Company did not make a matching contribution during the year ended December 31, 2022.
3. Vesting Schedule/Eligibility: Participants are fully vested in their deferral contributions, rollover contributions, and any earnings thereon. Vesting of matching contributions and earnings is achieved through a four-year formula based on whole years of continuous service. Employees are eligible to participate in the Plan upon attaining age 21 and completion of three months of service.
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