NATIONAL MACHINERY LLC SAVINGS PLAN Contribution & Employer Match
NATIONAL MACHINERY LLC SAVINGS PLAN Contribution & Employer Match
NATIONAL MACHINERY LLC provides the following retirement savings benefits to its employees:
NATIONAL MACHINERY LLC SAVINGS PLAN Average Participant Retirement Account Value
NATIONAL MACHINERY LLC SAVINGS PLAN Estimated Average Employee Contribution Amount
407,217.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 6,362.00 in NATIONAL MACHINERY LLC SAVINGS 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 NATIONAL MACHINERY LLC SAVINGS 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’.
NATIONAL MACHINERY LLC SAVINGS PLAN Total Employer Contribution and Match Rate
NATIONAL MACHINERY LLC SAVINGS PLAN Estimated Average Employer Match
Investing in this additonal $2,384.00 for 20 years would give you extra $152,583.00, assuming a 10% annual return.
NATIONAL MACHINERY LLC SAVINGS PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute from 1% to 70% of their annual salary.
2. Employer Match/Contribution Conditions: The employer matches 100% of the first 2% and 50% of the next 5% of eligible compensation deferred.
3. Vesting Schedule/Eligibility: Participants are immediately vested in all employee and employer discretionary contributions plus actual earnings thereon. Employees are eligible to participate in the Plan upon their date of hire.
4. Yes, the Plan allows Roth 401(k) contributions.
Recent Articles
- Public Pay Might Be Higher Than You Think (Once You Do the Math)
- Why Managing Volatility Matters
- Stock Compensation 101: How People Build Wealth (or Blow It)
- Retirement Plan Contribution Limits in 2024
- How to Take Advantage of Your ESPP (Employer Stock Purchase Plan)
- June 2025 MyPlanIQ Portfolio Update
- How to Benefit from Your ESPP (Employer Stock Purchase Plan)
- Simple 401(k) Investment Guide
- Why Actively Managed Bond Funds Outperform Index Funds More Often Than Stocks
Free newsletters
High quality resources for 401k, 403b, 529 retirement plans on investment, contribution, fees, retirement planning and much more ...
Puzzled on what to invest?
- We ask a few questions to decide your personal return and risk expectations
- We build a custom portfolio for your plan (401(k), 403(b), 529 ...) or for a brokerage account
- We monitor and send timely rebalance emails on what investment funds to buy and sell
Looking for ideas to generate income?
- ETF or mutual fund income portfolios for 4-7% annual income
- Dividend stock funds
- Passive real estate investments
- more ...
Portfolio Calculator (Simulator)
Customize Asset Allocation Portfolios
Retirement Calculator
Investment Calculator
Looking for a (forgotten) 401(k)?
Find plan contact info, plan expenses, investment options, rollover your old plan, or learn how to select investments on your 401k plan ...