ROWMAN & LITTLEFIELD PUBLISHING GROUP, INC. 401(K) PLAN Contribution & Employer Match
ROWMAN & LITTLEFIELD PUBLISHING GROUP, INC. 401(K) PLAN Contribution & Employer Match
ROWMAN & LITTLEFIELD PUBLISHING GROUP, INC. provides the following retirement savings benefits to its employees:
ROWMAN & LITTLEFIELD PUBLISHING GROUP, INC. 401(K) PLAN Average Participant Retirement Account Value
ROWMAN & LITTLEFIELD PUBLISHING GROUP, INC. 401(K) PLAN Estimated Average Employee Contribution Amount
186,904.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 2,920.00 in ROWMAN & LITTLEFIELD PUBLISHING GROUP, INC. 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 ROWMAN & LITTLEFIELD PUBLISHING GROUP, INC. 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’.
ROWMAN & LITTLEFIELD PUBLISHING GROUP, INC. 401(K) PLAN Total Employer Contribution and Match Rate
ROWMAN & LITTLEFIELD PUBLISHING GROUP, INC. 401(K) PLAN Estimated Average Employer Match
Investing in this additonal $799.00 for 20 years would give you extra $51,160.00, assuming a 10% annual return.
ROWMAN & LITTLEFIELD PUBLISHING GROUP, INC. 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: The maximum participant contribution is the amount that is imposed as a limit by the Internal Revenue Code (the IRC).
2. Employer Match/Contribution Conditions: The Company’s matching contribution is 50 cents for each dollar contributed by the participant, up to 6% of compensation.
3. Vesting Schedule/Eligibility: Participants are immediately 100% vested in their salary deferral and rollover contributions. Vesting in the Company’s contributions is based on years of service, with 0% for less than 1 year, increasing to 100% for 5 or more years. Employees who have reached the age of 21 may contribute to the Plan beginning on the first day of the quarter following six months of service.
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