NATURE CONSERVANCY SAVINGS & RETIREMENT PLAN Contribution & Employer Match
NATURE CONSERVANCY SAVINGS & RETIREMENT PLAN Contribution & Employer Match
THE NATURE CONSERVANCY provides the following retirement savings benefits to its employees:
NATURE CONSERVANCY SAVINGS & RETIREMENT PLAN Average Participant Retirement Account Value
NATURE CONSERVANCY SAVINGS & RETIREMENT PLAN Estimated Average Employee Contribution Amount
497,523.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 7,773.00 in NATURE CONSERVANCY SAVINGS & RETIREMENT 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 NATURE CONSERVANCY SAVINGS & RETIREMENT 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’.
NATURE CONSERVANCY SAVINGS & RETIREMENT PLAN Total Employer Contribution and Match Rate
NATURE CONSERVANCY SAVINGS & RETIREMENT PLAN Estimated Average Employer Match
Investing in this additonal $4,546.00 for 20 years would give you extra $290,971.00, assuming a 10% annual return.
NATURE CONSERVANCY SAVINGS & RETIREMENT PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute up to the 402(g) maximum limits, with an additional catch-up contribution for those aged 50 or older.
2. Employer Match/Contribution Conditions: The employer makes matching contributions based on a formula linked to compensation and years of service. Catch-up contributions are also matched by the employer.
3. Vesting Schedule/Eligibility: The employer contributions vest 100% after 3 years of service. All employees are eligible to participate after 30 days of employment.
4. Roth 401(k) Contribution: The plan allows for Roth 401(k) contributions.
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