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ROCKFORD ANESTHESIOLOGISTS ASSOCIATED EMPLOYEE Contribution & Employer Match

ROCKFORD ANESTHESIOLOGISTS ASSOCIATED EMPLOYEE Contribution & Employer Match

ROCKFORD ANESTHESIOLOGISTS ASSOCIATED, LLC provides the following retirement savings benefits to its employees:

ROCKFORD ANESTHESIOLOGISTS ASSOCIATED EMPLOYEE Average Participant Retirement Account Value

In 2021, the average participant retirement account value for ROCKFORD ANESTHESIOLOGISTS ASSOCIATED EMPLOYEE is $603,224.00

ROCKFORD ANESTHESIOLOGISTS ASSOCIATED EMPLOYEE Estimated Average Employee Contribution Amount

In 2021, the estimated average employee contribution amount per participant for ROCKFORD ANESTHESIOLOGISTS ASSOCIATED EMPLOYEE is $8,888.00. 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.
568,891.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 8,888.00 in ROCKFORD ANESTHESIOLOGISTS ASSOCIATED EMPLOYEE, 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 ROCKFORD ANESTHESIOLOGISTS ASSOCIATED EMPLOYEE

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’.

ROCKFORD ANESTHESIOLOGISTS ASSOCIATED EMPLOYEE Total Employer Contribution and Match Rate

In 2021, ROCKFORD ANESTHESIOLOGISTS ASSOCIATED EMPLOYEE allocates $1,729,721.00 to match its employees' contributions, providing an employer match rate of 153.22% of their contributions

ROCKFORD ANESTHESIOLOGISTS ASSOCIATED EMPLOYEE Estimated Average Employer Match

In 2021, the estimated average employer match for an employee in ROCKFORD ANESTHESIOLOGISTS ASSOCIATED EMPLOYEE is approximately $13,619.00
Investing in this additonal $13,619.00 for 20 years would give you extra $871,670.00, assuming a 10% annual return.

ROCKFORD ANESTHESIOLOGISTS ASSOCIATED EMPLOYEE Contribution & Match Policy

1. Employee Contribution Rates: Participants may elect to contribute a percentage or dollar amount of their compensation, limited by Plan provisions, as either pre-tax or after-tax Roth contributions up to the maximum allowable by the Internal Revenue Service (IRS).

2. Employer Match/Contribution Conditions: The Company provides for a basic “safe harbor” contribution of 3% of participant compensation. The Company may also make a discretionary profit sharing contribution and discretionary qualified matching contributions, but did not make a matching contribution for the year ended December 31, 2021.

3. Vesting Schedule/Eligibility: Participants are immediately 100% vested in employee deferral contributions and the Company's matching and basic contributions. Vesting in the Company's profit sharing contribution is based on years of service: 0% after 1 year, 33% after 2 years, 67% after 3 years, and 100% after 4 or more years. A participant is fully vested upon reaching normal retirement age of 65, death, or permanent disability. Eligibility requires employees to be at least 21 years old and complete a 12-month service period with at least 1,000 hours worked.

4. It allows Roth 401(k) contribution.

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