MERLONE GEIER MANAGEMENT, LLC 401(K) PLAN Contribution & Employer Match

MERLONE GEIER MANAGEMENT, LLC 401(K) PLAN Contribution & Employer Match

MERLONE GEIER MANAGEMENT, LLC provides the following retirement savings benefits to its employees:

MERLONE GEIER MANAGEMENT, LLC 401(K) PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for MERLONE GEIER MANAGEMENT, LLC 401(K) PLAN is $227,871.00

MERLONE GEIER MANAGEMENT, LLC 401(K) PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for MERLONE GEIER MANAGEMENT, LLC 401(K) PLAN is $9,417.00. 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.
602,709.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 9,417.00 in MERLONE GEIER MANAGEMENT, LLC 401(K) 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 MERLONE GEIER MANAGEMENT, LLC 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’.

MERLONE GEIER MANAGEMENT, LLC 401(K) PLAN Total Employer Contribution and Match Rate

In 2023, MERLONE GEIER MANAGEMENT, LLC 401(K) PLAN allocates $366,871.00 to match its employees' contributions, providing an employer match rate of 26.32% of their contributions

MERLONE GEIER MANAGEMENT, LLC 401(K) PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in MERLONE GEIER MANAGEMENT, LLC 401(K) PLAN is approximately $2,462.00
Investing in this additonal $2,462.00 for 20 years would give you extra $157,582.00, assuming a 10% annual return.

MERLONE GEIER MANAGEMENT, LLC 401(K) PLAN Contribution & Match Policy

1. Employee Contribution Rates: Participants can contribute up to 100% of their eligible pre-tax or after-tax compensation, up to the maximum IRS contribution limit (which was $20,500 for 2022).

2. Employer Match/Contribution Conditions: The employer makes discretionary matching contributions equal to 100% of employee deferral contributions up to a maximum of $5,000. Employees must be employed on the last day of the Plan year to be eligible to receive discretionary matching contributions.

3. Vesting Schedule/Eligibility: Participants are immediately 100% vested in their contributions. They vest in the Company's discretionary matching contributions after three years of credited service. The vesting schedule for the Company's discretionary matching contributions is as follows: Less than 1 year - 0%, 1 year - 34%, 2 years - 67%, 3 years - 100%. Employees become eligible to participate in the Plan on the first day of the Plan year quarter coinciding with or the next following date they turn 21 years of age and achieve 2 consecutive months of service.

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