KDA 401(K) PLAN Contribution & Employer Match
KDA 401(K) PLAN Contribution & Employer Match
KYOCERA DOCUMENT SOLUTIONS AMERICA, INC. provides the following retirement savings benefits to its employees:
KDA 401(K) PLAN Average Participant Retirement Account Value
KDA 401(K) PLAN Estimated Average Employee Contribution Amount
427,660.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 6,682.00 in KDA 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 KDA 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’.
KDA 401(K) PLAN Total Employer Contribution and Match Rate
KDA 401(K) PLAN Estimated Average Employer Match
Investing in this additonal $2,873.00 for 20 years would give you extra $183,913.00, assuming a 10% annual return.
KDA 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Each participant may elect to contribute from 1 to 75 percent of his or her compensation.
2. Employer Match/Contribution Conditions: The Company contributes an amount equal to 100% of the participant's eligible contribution, subject to statutory limitations, to a maximum of up to 5 percent of the participant's compensation.
3. Vesting Schedule/Eligibility: A participant is immediately vested in his or her contributions and the Company's Matching Contribution. For Matching Contributions made to the Plan on or before December 31, 2008, the vesting schedule is as follows: 0% after 1 year, 25% after 2 years, 50% after 3 years, 75% after 4 years, and 100% after 5 years. Participants are fully vested after five years of service, or upon eligibility for early or normal retirement, or in case of death or disability prior to termination of employment.
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