NXP 401(K) RETIREMENT PLAN Contribution & Employer Match
NXP 401(K) RETIREMENT PLAN Contribution & Employer Match
NXP USA, INC. provides the following retirement savings benefits to its employees:
NXP 401(K) RETIREMENT PLAN Average Participant Retirement Account Value
NXP 401(K) RETIREMENT PLAN Estimated Average Employee Contribution Amount
643,327.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 10,051.00 in NXP 401(K) 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 NXP 401(K) 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’.
NXP 401(K) RETIREMENT PLAN Total Employer Contribution and Match Rate
NXP 401(K) RETIREMENT PLAN Estimated Average Employer Match
Investing in this additonal $4,464.00 for 20 years would give you extra $285,746.00, assuming a 10% annual return.
NXP 401(K) RETIREMENT PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute up to seventy-five percent (75%) of their salary to the plan.
2. Employer Match/Contribution Conditions: The employer matches contributions equal to one dollar for each dollar of participant pre-tax, Roth, and catch-up deferrals up to five percent (5%) of the participant's eligible compensation.
3. Vesting Schedule/Eligibility: Employer contributions are fully vested and non-forfeitable at all times. Full-time employees are eligible to participate from their first day of work.
4. Roth 401(k) Contribution: Yes, the plan allows Roth 401(k) contributions.
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