NEUROLOGICAL ASSOCIATES OF TUCSON, P.C., RETIREMENT PLAN AND TRUST Contribution & Employer Match
NEUROLOGICAL ASSOCIATES OF TUCSON, P.C., RETIREMENT PLAN AND TRUST Contribution & Employer Match
NEUROLOGICAL ASSOCIATES OF TUCSON, P.C. provides the following retirement savings benefits to its employees:
NEUROLOGICAL ASSOCIATES OF TUCSON, P.C., RETIREMENT PLAN AND TRUST Average Participant Retirement Account Value
NEUROLOGICAL ASSOCIATES OF TUCSON, P.C., RETIREMENT PLAN AND TRUST Estimated Average Employee Contribution Amount
136,867.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 2,138.00 in NEUROLOGICAL ASSOCIATES OF TUCSON, P.C., RETIREMENT PLAN AND TRUST, 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 NEUROLOGICAL ASSOCIATES OF TUCSON, P.C., RETIREMENT PLAN AND TRUST
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’.
NEUROLOGICAL ASSOCIATES OF TUCSON, P.C., RETIREMENT PLAN AND TRUST Total Employer Contribution and Match Rate
NEUROLOGICAL ASSOCIATES OF TUCSON, P.C., RETIREMENT PLAN AND TRUST Estimated Average Employer Match
Investing in this additonal $8,111.00 for 20 years would give you extra $519,113.00, assuming a 10% annual return.
NEUROLOGICAL ASSOCIATES OF TUCSON, P.C., RETIREMENT PLAN AND TRUST Contribution & Match Policy
1. Employee Contribution Rates: Employees may contribute a percentage or an amount of their eligible compensation, not to exceed the maximum allowable under the Internal Revenue Code for any plan year ($19,500 for 2021).
2. Employer Match/Contribution Conditions: The Company may contribute a discretionary matching amount based on a percentage of the amount the participant contributes. For the Plan year ended December 31, 2021, the Company contributed $1,418,699.
3. Vesting Schedule/Eligibility: Participants are immediately vested in their contributions plus actual earnings. Employer contributions vest according to the following schedule:
4. - 1 year: 0%
5. - 2 years: 20%
6. - 3 years: 40%
7. - 4 years: 60%
8. - 5 years: 80%
9. - 6 years: 100%
10. Eligibility requires at least one year of service and being age twenty-one or older.
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