LANDMARK STRUCTURES I, L.P. 401(K) PROFIT SHARING PLAN Contribution & Employer Match
LANDMARK STRUCTURES I, L.P. 401(K) PROFIT SHARING PLAN Contribution & Employer Match
LANDMARK STRUCTURES I, L.P. provides the following retirement savings benefits to its employees:
LANDMARK STRUCTURES I, L.P. 401(K) PROFIT SHARING PLAN Average Participant Retirement Account Value
LANDMARK STRUCTURES I, L.P. 401(K) PROFIT SHARING PLAN Estimated Average Employee Contribution Amount
334,212.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 5,222.00 in LANDMARK STRUCTURES I, L.P. 401(K) PROFIT SHARING 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 LANDMARK STRUCTURES I, L.P. 401(K) 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’.
LANDMARK STRUCTURES I, L.P. 401(K) PROFIT SHARING PLAN Total Employer Contribution and Match Rate
LANDMARK STRUCTURES I, L.P. 401(K) PROFIT SHARING PLAN Estimated Average Employer Match
Investing in this additonal $2,132.00 for 20 years would give you extra $136,456.00, assuming a 10% annual return.
LANDMARK STRUCTURES I, L.P. 401(K) PROFIT SHARING PLAN Contribution & Match Policy
1. Employee Contribution Rates: Participants may elect to defer up to 100% of pretax annual compensation (not to exceed the amount allowable by law).
2. Employer Match/Contribution Conditions: The Company matches 50% of employee contributions, up to 7.50% of eligible compensation deferred to the Plan.
3. Vesting Schedule/Eligibility: Participants are 100% vested in salary deferrals immediately. Vesting in the Company's contributions is 20% for each year of service, with full vesting after five years of credited service, requiring at least 1,000 hours of service during any plan year.
4. Roth 401(k) Contribution: The Plan allows participants to make Roth contributions utilizing after-tax contributions.
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