RICHARD AVELAR & ASSOCIATES RECONSTRUCTION SERVICES 401(K) PROFIT SHARING PLAN Contribution & Employer Match

RICHARD AVELAR & ASSOCIATES RECONSTRUCTION SERVICES 401(K) PROFIT SHARING PLAN Contribution & Employer Match

RICHARD AVELAR & ASSOCIATES RECONSTRUCTION SERVICES provides the following retirement savings benefits to its employees:

RICHARD AVELAR & ASSOCIATES RECONSTRUCTION SERVICES 401(K) PROFIT SHARING PLAN Average Participant Retirement Account Value

In 2022, the average participant retirement account value for RICHARD AVELAR & ASSOCIATES RECONSTRUCTION SERVICES 401(K) PROFIT SHARING PLAN is $42,210.00

RICHARD AVELAR & ASSOCIATES RECONSTRUCTION SERVICES 401(K) PROFIT SHARING PLAN Estimated Average Employee Contribution Amount

In 2022, the estimated average employee contribution amount per participant for RICHARD AVELAR & ASSOCIATES RECONSTRUCTION SERVICES 401(K) PROFIT SHARING PLAN is $1,126.00. If you contribute an amount exceeding this, you have saved more than your colleagues. Congratulations! Keep up the good work. Otherwise, you might want to consider contributing more to ensure a better retirement future.
72,116.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 1,126.00 in RICHARD AVELAR & ASSOCIATES RECONSTRUCTION SERVICES 401(K) PROFIT SHARING PLAN, assuming a 10%* annual return.

2023 & 2024 401(k) contribution limits by IRS

 Pretax and roth employee contributionsEmployee and employer contributions combinedCatch-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 RICHARD AVELAR & ASSOCIATES RECONSTRUCTION SERVICES 401(K) PROFIT SHARING 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’.

RICHARD AVELAR & ASSOCIATES RECONSTRUCTION SERVICES 401(K) PROFIT SHARING PLAN Total Employer Contribution and Match Rate

In 2022, RICHARD AVELAR & ASSOCIATES RECONSTRUCTION SERVICES 401(K) PROFIT SHARING PLAN allocates $357,985.00 to match its employees' contributions, providing an employer match rate of 269.23% of their contributions

RICHARD AVELAR & ASSOCIATES RECONSTRUCTION SERVICES 401(K) PROFIT SHARING PLAN Estimated Average Employer Match

In 2022, the estimated average employer match for an employee in RICHARD AVELAR & ASSOCIATES RECONSTRUCTION SERVICES 401(K) PROFIT SHARING PLAN is approximately $3,059.00
Investing in this additonal $3,059.00 for 20 years would give you extra $195,820.00, assuming a 10% annual return.

RICHARD AVELAR & ASSOCIATES RECONSTRUCTION SERVICES 401(K) PROFIT SHARING PLAN Contribution & Match Policy

1. Employee Contribution Rates: Employees can contribute up to 100% of their eligible annual compensation into the plan, subject to an annual limitation of $20,500 for 2022 ($27,000 for those participants who are age 50 or over).

2. Employer Match/Contribution Conditions: Participants must complete at least 1,000 hours of service and be employed on the last day of the Plan year to receive matching contributions. For non-elective contributions, participants must complete one year of service and be employed on the last day of the Plan year. The non-elective contribution formula for 2022 was up to 25% of eligible compensation to certain employees and 5% of eligible compensation for all other participants.

3. Vesting Schedule/Eligibility: Participants are immediately vested in their contributions. They vest in employer matching and non-elective contributions in ratable installments of 20% on the second year of service. Participants are fully vested in the event of death, disability, or normal retirement. Eligibility requires participants to complete at least 1,000 hours of service and be employed on the last day of the Plan year for matching contributions, and one year of service for non-elective contributions.

Recent Articles

Free newsletters

High quality resources for 401k, 403b, 529 retirement plans on investment, contribution, fees, retirement planning and much more ...

Puzzled on what to invest?

  • We ask a few questions to decide your personal return and risk expectations
  • We build a custom portfolio for your plan (401(k), 403(b), 529 ...) or for a  brokerage account
  • We monitor and send timely rebalance emails on what investment funds to buy and sell

Get Started

Looking for ideas to generate income?

  • ETF or mutual fund income portfolios for 4-7% annual income
  • Dividend stock funds
  • Passive real estate investments
  • more ...

Click for tips and plans for income

Portfolio Calculator (Simulator)

Quickly enter fund allocation and get a back test result on the performance of this 'lazy' portfolio.

Customize Asset Allocation Portfolios

Build a custom model portfolio using our asset strategic or tactical strategies, tailored to a 401(k) plan or for a brokerage account.

Retirement Calculator

See how much you can save for retirement.

Investment Calculator

Grow your wealth and see the power of compounding.


Looking for a (forgotten) 401(k)?

Find plan contact info, plan expenses, investment options, rollover your old plan, or learn how to select investments on your 401k plan ...