KB HOME 401(K) SAVINGS PLAN Contribution & Employer Match
KB HOME 401(K) SAVINGS PLAN Contribution & Employer Match
KB HOME provides the following retirement savings benefits to its employees:
KB HOME 401(K) SAVINGS PLAN Average Participant Retirement Account Value
KB HOME 401(K) SAVINGS PLAN Estimated Average Employee Contribution Amount
379,733.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 5,933.00 in KB HOME 401(K) SAVINGS 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 KB HOME 401(K) SAVINGS 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’.
KB HOME 401(K) SAVINGS PLAN Total Employer Contribution and Match Rate
KB HOME 401(K) SAVINGS PLAN Estimated Average Employer Match
Investing in this additonal $2,432.00 for 20 years would give you extra $155,657.00, assuming a 10% annual return.
KB HOME 401(K) SAVINGS PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute up to 25% of their annual eligible compensation on a pretax basis and/or into a designated Roth 401(k) account on an after-tax basis. They may also contribute up to an additional 15% on an after-tax basis.
2. Employer Match/Contribution Conditions: The Company matches 100% of a Participant’s pretax and/or after-tax Roth 401(k) account contributions up to 6% of eligible compensation per payroll period. For sales representatives, the Company matches contributions up to 6% of eligible compensation per payroll period up to $50,000 per year.
3. Vesting Schedule/Eligibility: Participants are immediately vested in their contributions and the earnings thereon. Company matching contributions and the earnings thereon are 100% vested after five years of service.
4. Roth 401(k) Contribution: Yes, it allows Roth 401(k) contributions.
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