KRAMER BEVERAGE CO. , LLC EMPLOYEES' PROFIT SHARING PLAN Contribution & Employer Match

KRAMER BEVERAGE CO. , LLC EMPLOYEES' PROFIT SHARING PLAN Contribution & Employer Match

KRAMER BEVERAGE CO., LLC provides the following retirement savings benefits to its employees:

KRAMER BEVERAGE CO. , LLC EMPLOYEES' PROFIT SHARING PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for KRAMER BEVERAGE CO. , LLC EMPLOYEES' PROFIT SHARING PLAN is $104,855.00

KRAMER BEVERAGE CO. , LLC EMPLOYEES' PROFIT SHARING PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for KRAMER BEVERAGE CO. , LLC EMPLOYEES' PROFIT SHARING PLAN is $3,489.00. 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.
223,357.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 3,489.00 in KRAMER BEVERAGE CO. , LLC EMPLOYEES' PROFIT SHARING PLAN, 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 KRAMER BEVERAGE CO. , LLC EMPLOYEES' PROFIT SHARING 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’.

KRAMER BEVERAGE CO. , LLC EMPLOYEES' PROFIT SHARING PLAN Total Employer Contribution and Match Rate

In 2023, KRAMER BEVERAGE CO. , LLC EMPLOYEES' PROFIT SHARING PLAN allocates $2,085,225.00 to match its employees' contributions, providing an employer match rate of 181.61% of their contributions

KRAMER BEVERAGE CO. , LLC EMPLOYEES' PROFIT SHARING PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in KRAMER BEVERAGE CO. , LLC EMPLOYEES' PROFIT SHARING PLAN is approximately $6,598.00
Investing in this additonal $6,598.00 for 20 years would give you extra $422,324.00, assuming a 10% annual return.

KRAMER BEVERAGE CO. , LLC EMPLOYEES' PROFIT SHARING PLAN Contribution & Match Policy

1. Employee Contribution Rates: Employees can contribute up to 100% of pretax annual compensation, subject to the maximum limits of the Internal Revenue Code (IRC).

2. Employer Match/Contribution Conditions: The employer may elect to make a safe harbor matching contribution equal to a certain percentage based on each participant's deferral amount, subject to limitations. Additionally, the employer approved a profit sharing contribution of $700,000 for 2022.

3. Vesting Schedule/Eligibility: Participants are immediately vested in their contributions. Vesting in the employer's contributions is 100% after completing two years of service for safe harbor matching contributions and three years for profit sharing contributions. Union participants are fully vested in monthly employer contributions after three years of credited service. There is a three-month service requirement for eligibility.

4. Roth 401(k) Contribution: Participants may designate all or a portion of their deferral contributions as after-tax contributions into a Roth account.

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