NORTHWEST PERMANENTE, P.C. RETIREMENT PLAN - PS ASPECT Contribution & Employer Match
NORTHWEST PERMANENTE, P.C. RETIREMENT PLAN - PS ASPECT Contribution & Employer Match
NORTHWEST PERMANENTE, P.C. provides the following retirement savings benefits to its employees:
NORTHWEST PERMANENTE, P.C. RETIREMENT PLAN - PS ASPECT Average Participant Retirement Account Value
NORTHWEST PERMANENTE, P.C. RETIREMENT PLAN - PS ASPECT Estimated Average Employee Contribution Amount
1,119,569.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 17,493.00 in NORTHWEST PERMANENTE, P.C. RETIREMENT PLAN - PS ASPECT, 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 NORTHWEST PERMANENTE, P.C. RETIREMENT PLAN - PS ASPECT
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’.
NORTHWEST PERMANENTE, P.C. RETIREMENT PLAN - PS ASPECT Total Employer Contribution and Match Rate
NORTHWEST PERMANENTE, P.C. RETIREMENT PLAN - PS ASPECT Estimated Average Employer Match
Investing in this additonal $2,683.00 for 20 years would give you extra $171,772.00, assuming a 10% annual return.
NORTHWEST PERMANENTE, P.C. RETIREMENT PLAN - PS ASPECT Contribution & Match Policy
1. Employee Contribution Rates: Participants may contribute up to 100% of eligible pre-tax, Roth or after-tax compensation, up to allowable limits.
2. Employer Match/Contribution Conditions: The plan requires a 2% employer contribution for all non-highly compensated eligible participants’ compensation on an annual basis.
3. Vesting Schedule/Eligibility: Participants are 100% vested in their account at all times. All qualified employees are eligible to participate in the plan after six months of employment, with participation in the profit sharing portion beginning after completing one year of service.
4. Roth 401(k) Contribution: Yes, the plan allows Roth 401(k) contributions.
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