JOHNSON, POPE PROFIT SHARING PLAN AND TRUST Contribution & Employer Match

JOHNSON, POPE PROFIT SHARING PLAN AND TRUST Contribution & Employer Match

JOHNSON, POPE, BOKOR, RUPPEL & BURNS, L. L. P. provides the following retirement savings benefits to its employees:

JOHNSON, POPE PROFIT SHARING PLAN AND TRUST Average Participant Retirement Account Value

In 2022, the average participant retirement account value for JOHNSON, POPE PROFIT SHARING PLAN AND TRUST is $258,755.00

JOHNSON, POPE PROFIT SHARING PLAN AND TRUST Estimated Average Employee Contribution Amount

In 2022, the estimated average employee contribution amount per participant for JOHNSON, POPE PROFIT SHARING PLAN AND TRUST is $9,573.00. If you contribute an amount exceeding this, you have saved more than your colleagues. Congratulations! Keep up the good work. Otherwise, you might want to consider contributing more to ensure a better retirement future.
612,682.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 9,573.00 in JOHNSON, POPE PROFIT SHARING PLAN AND TRUST, assuming a 10%* annual return.

2023 & 2024 401(k) contribution limits by IRS

 Pretax and roth employee contributionsEmployee and employer contributions combinedCatch-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 JOHNSON, POPE PROFIT SHARING PLAN AND TRUST

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’.

JOHNSON, POPE PROFIT SHARING PLAN AND TRUST Total Employer Contribution and Match Rate

In 2022, JOHNSON, POPE PROFIT SHARING PLAN AND TRUST allocates $1,866,575.00 to match its employees' contributions, providing an employer match rate of 106.55% of their contributions

JOHNSON, POPE PROFIT SHARING PLAN AND TRUST Estimated Average Employer Match

In 2022, the estimated average employer match for an employee in JOHNSON, POPE PROFIT SHARING PLAN AND TRUST is approximately $9,772.00
Investing in this additonal $9,772.00 for 20 years would give you extra $625,449.00, assuming a 10% annual return.

JOHNSON, POPE PROFIT SHARING PLAN AND TRUST Contribution & Match Policy

1. Employee Contribution Rates: Participants may make pre-tax or Roth contributions based on the amount they have specified in a salary deferral agreement, limited by Federal income tax regulations ($19,500 in 2021).

2. Employer Match/Contribution Conditions: The Company matched 25% of contributions by eligible employees, totaling approximately $389,000 for plan year 2021. Participants must be employed in an eligible position as of the last day of the plan year to qualify for the matching contribution.

3. Vesting Schedule/Eligibility: Participants are immediately vested in their contributions, and as of January 1, 2019, in Company match and profit-sharing contributions plus actual earnings. Employees age 18 and older who have completed one year of service are eligible to participate in the Plan.

4. Roth 401(k) Contribution: Yes, the Plan allows Roth contributions.

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