PERIPHERAL VASCULAR ASSOCIATES 401(K) PLAN Contribution & Employer Match
PERIPHERAL VASCULAR ASSOCIATES 401(K) PLAN Contribution & Employer Match
PERIPHERAL VASCULAR ASSOCIATES provides the following retirement savings benefits to its employees:
PERIPHERAL VASCULAR ASSOCIATES 401(K) PLAN Average Participant Retirement Account Value
PERIPHERAL VASCULAR ASSOCIATES 401(K) PLAN Estimated Average Employee Contribution Amount
218,171.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 3,408.00 in PERIPHERAL VASCULAR ASSOCIATES 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 PERIPHERAL VASCULAR ASSOCIATES 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’.
PERIPHERAL VASCULAR ASSOCIATES 401(K) PLAN Total Employer Contribution and Match Rate
PERIPHERAL VASCULAR ASSOCIATES 401(K) PLAN Estimated Average Employer Match
Investing in this additonal $2,838.00 for 20 years would give you extra $181,666.00, assuming a 10% annual return.
PERIPHERAL VASCULAR ASSOCIATES 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Participants may contribute pretax from their annual compensation.
2. Employer Match/Contribution Conditions: The Plan Sponsor may contribute a matching contribution as determined each year by its Board of Directors up to 5% of annual compensation.
3. Vesting Schedule/Eligibility: Participants are 100% vested at all times in their voluntary contributions and actual earnings. A participant's interest in the employer's discretionary contributions becomes 100% vested upon attaining the Plan's normal retirement age or if employment is terminated due to death or disability. If employment is terminated prior to normal retirement age for any reason other than death or disability, the employer contributions become 100% vested following six years of employment.
4. It allows Roth 401(k) contribution.
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