NEPC, LLC PROFIT SHARING AND 401(K) PLAN Contribution & Employer Match
NEPC, LLC PROFIT SHARING AND 401(K) PLAN Contribution & Employer Match
NEPC, LLC provides the following retirement savings benefits to its employees:
NEPC, LLC PROFIT SHARING AND 401(K) PLAN Average Participant Retirement Account Value
NEPC, LLC PROFIT SHARING AND 401(K) PLAN Estimated Average Employee Contribution Amount
397,110.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 6,204.00 in NEPC, LLC PROFIT SHARING AND 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 NEPC, LLC PROFIT SHARING AND 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’.
NEPC, LLC PROFIT SHARING AND 401(K) PLAN Total Employer Contribution and Match Rate
NEPC, LLC PROFIT SHARING AND 401(K) PLAN Estimated Average Employer Match
Investing in this additonal $12,393.00 for 20 years would give you extra $793,203.00, assuming a 10% annual return.
NEPC, LLC PROFIT SHARING AND 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees may contribute up to 100% of their annual compensation, up to a dollar limit set by Federal law.
2. Employer Match/Contribution Conditions: A participant must have one year of service (minimum of 1,000 hours worked during the Plan year) and be actively employed on the last day of the Plan year to participate in the profit sharing and matching contributions. The employer, at its sole discretion, determines the amount of matching contributions.
3. Vesting Schedule/Eligibility: Participants are immediately vested in their voluntary contributions. For employer contributions, a participant is 20% vested after two years of service and 100% vested after six years of service or upon termination due to death, disability, or attainment of retirement.
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