PECI 401K PLAN Contribution & Employer Match
PECI 401K PLAN Contribution & Employer Match
PIPELINE ENVIRONMENTAL & COMPRESSION INDUSTRIES, LLC provides the following retirement savings benefits to its employees:
PECI 401K PLAN Average Participant Retirement Account Value
PECI 401K PLAN Estimated Average Employee Contribution Amount
73,433.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 1,147.00 in PECI 401K 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 PECI 401K 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’.
PECI 401K PLAN Contribution & Match Policy
1. Employee Contribution Rates: Participants may elect to contribute up to the maximum percentage of compensation and dollar amounts permissible under Code Section 402(g) and 414(v).
2. Employer Match/Contribution Conditions: The employer may make matching contributions allocated as a percentage of compensation or a dollar amount that directly relates to the elective deferrals made during the Plan year by eligible participants.
3. Vesting Schedule/Eligibility: Participants are immediately vested in their voluntary contributions plus actual earnings. Vesting in the employer's matching contributions is based on years of continuous service, with participants becoming 100% vested after six years of credited service.
4. Roth 401(k) Contribution: Specific mention of Roth 401(k) contributions is not included.
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