OERLIKON METCO (US) 401(K) PLAN Contribution & Employer Match
OERLIKON METCO (US) 401(K) PLAN Contribution & Employer Match
OERLIKON METCO (US) INC. provides the following retirement savings benefits to its employees:
OERLIKON METCO (US) 401(K) PLAN Average Participant Retirement Account Value
OERLIKON METCO (US) 401(K) PLAN Estimated Average Employee Contribution Amount
374,322.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 5,848.00 in OERLIKON METCO (US) 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 OERLIKON METCO (US) 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’.
OERLIKON METCO (US) 401(K) PLAN Total Employer Contribution and Match Rate
OERLIKON METCO (US) 401(K) PLAN Estimated Average Employer Match
Investing in this additonal $4,175.00 for 20 years would give you extra $267,206.00, assuming a 10% annual return.
OERLIKON METCO (US) 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees may contribute up to 35% of their eligible compensation to the plan.
2. Employer Match/Contribution Conditions: The employer provides a safe-harbor matching contribution equal to 100% of the first 6% of the participant’s eligible compensation contributed to the plan.
3. Vesting Schedule/Eligibility: Participants are immediately vested in their elective deferral contributions and Company safe harbor matching contributions. They become 100% vested in the Company’s discretionary non-elective contributions after 2 years of service. Eligibility includes all active employees of the Company, excluding union employees, leased employees, residents of Puerto Rico, and non-resident aliens with no income from a U.S. source, as well as interns, co-ops, seasonal, and temporary employees who have reached 21 years of age and completed more than 1,000 hours of service during the year.
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