SAARMAN CONSTRUCTION, LTD. 401(K) RETIREMENT PLAN Contribution & Employer Match
SAARMAN CONSTRUCTION, LTD. 401(K) RETIREMENT PLAN Contribution & Employer Match
SAARMAN CONSTRUCTION, LTD. provides the following retirement savings benefits to its employees:
SAARMAN CONSTRUCTION, LTD. 401(K) RETIREMENT PLAN Average Participant Retirement Account Value
SAARMAN CONSTRUCTION, LTD. 401(K) RETIREMENT PLAN Estimated Average Employee Contribution Amount
162,063.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 2,532.00 in SAARMAN CONSTRUCTION, LTD. 401(K) RETIREMENT 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 SAARMAN CONSTRUCTION, LTD. 401(K) RETIREMENT 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’.
SAARMAN CONSTRUCTION, LTD. 401(K) RETIREMENT PLAN Total Employer Contribution and Match Rate
SAARMAN CONSTRUCTION, LTD. 401(K) RETIREMENT PLAN Estimated Average Employer Match
Investing in this additonal $5,391.00 for 20 years would give you extra $345,025.00, assuming a 10% annual return.
SAARMAN CONSTRUCTION, LTD. 401(K) RETIREMENT PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute up to 100% of their annual eligible pretax compensation, with maximum contributions totaling $20,500 for the year ended December 31, 2022.
2. Employer Match/Contribution Conditions: The employer matches 50% of the employee’s pretax contribution up to a maximum of $250 each plan year.
3. Vesting Schedule/Eligibility: Participants are immediately vested in their voluntary contributions, matching contributions, prevailing wage contributions, and rollover contributions. Vesting in the Company's discretionary profit sharing contributions is based on years of continuous service with a schedule from 0% at 1 year of service to 100% at 6 years of service. Employees must have completed 1,000 hours of service during a twelve-month eligibility period to be eligible for employer matching and non-elective contributions.
4. Roth 401(k) Contribution: The Plan allows after-tax basis ("Roth") contributions.
Recent Articles
- Business Development Companies (BDCs) for High Income
- Chasing Income with Those High Yield ETFs. Smart or Misleading?
- August 2025 MyPlanIQ Portfolio Update
- The Most Reliable Retirement Savings: Why $1.8 Million is a Popular Lie
- The Most Reliable Retirement Savings Amount You Need in 2025
- The Best Age (62, 67, or 70) to Claim Your Social Security Benefits
- Retirement Withdrawals in Optimal Order
- Best Strategy to Withdraw Funds in Retirement
- Retirement Milestone Cheat Sheet
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
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 ...
Portfolio Calculator (Simulator)
Customize Asset Allocation Portfolios
Retirement Calculator
Investment Calculator
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 ...