MANTECH INTERNATIONAL 401(K) PLAN Contribution & Employer Match
MANTECH INTERNATIONAL 401(K) PLAN Contribution & Employer Match
MANTECH INTERNATIONAL CORPORATION provides the following retirement savings benefits to its employees:
MANTECH INTERNATIONAL 401(K) PLAN Average Participant Retirement Account Value
MANTECH INTERNATIONAL 401(K) PLAN Estimated Average Employee Contribution Amount
412,368.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 6,443.00 in MANTECH INTERNATIONAL 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 MANTECH INTERNATIONAL 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’.
MANTECH INTERNATIONAL 401(K) PLAN Total Employer Contribution and Match Rate
MANTECH INTERNATIONAL 401(K) PLAN Estimated Average Employer Match
Investing in this additonal $2,636.00 for 20 years would give you extra $168,723.00, assuming a 10% annual return.
MANTECH INTERNATIONAL 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute up to 60% of eligible compensation, with an initial automatic enrollment at a rate of 3% that increases annually up to a maximum of 10%.
2. Employer Match/Contribution Conditions: The employer matches 100% of employee contributions for the first 4% of eligible compensation and 50% for the next 2% for matching group one; 100% for the first 2% and 50% for the next 6% for matching group two; and 3% for 1-3% deferrals and 100% for 4-8% deferrals for matching group four. There is no match for matching group three.
3. Vesting Schedule/Eligibility: Employees are immediately 100% vested in their elective contributions. Company matching contributions vest over 2 years (0-2 years: 0%, 2 years: 100%). Employees in matching groups one, two, or four become eligible for matching after six months of service; however, matching group three employees are not eligible.
4. Roth 401(k) contribution: The plan allows Roth contributions.
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