RETIREMENT SAVINGS PLUS Contribution & Employer Match
RETIREMENT SAVINGS PLUS Contribution & Employer Match
MANROLAND GOSS WEB SYSTEMS AMERICAS LLC provides the following retirement savings benefits to its employees:
RETIREMENT SAVINGS PLUS Average Participant Retirement Account Value
RETIREMENT SAVINGS PLUS Estimated Average Employee Contribution Amount
154,753.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 2,418.00 in RETIREMENT SAVINGS PLUS, 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 RETIREMENT SAVINGS PLUS
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’.
RETIREMENT SAVINGS PLUS Total Employer Contribution and Match Rate
RETIREMENT SAVINGS PLUS Estimated Average Employer Match
Investing in this additonal $276.00 for 20 years would give you extra $17,679.00, assuming a 10% annual return.
RETIREMENT SAVINGS PLUS Contribution & Match Policy
1. Employee Contribution Rates: Participants may contribute up to 50% (20% for highly compensated employees) of their gross compensation on a pre-tax or after-tax Roth basis.
2. Employer Match/Contribution Conditions: The Company matches 20% of each participant’s deferral contributions up to 6% of the participant’s compensation, for a maximum match of 1.20% of compensation.
3. Vesting Schedule/Eligibility: Participants are fully vested in their contributions and earnings. They become 100% vested in the Company’s contributions upon death, total and permanent disability, or attainment of normal or early retirement age. Company profit sharing contributions vest at 20% per year until fully vested after 6 years. For matching contributions, a participant is 0% vested with less than 3 years of service and 100% vested after 3 years.
4. Roth 401(k) Contribution: Yes.
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