SALEM COMMUNITY HOSPITAL R.N. MATCHING RETIREMENT 403(B) PLAN Contribution & Employer Match
How SALEM COMMUNITY HOSPITAL Supports Your Retirement Savings
SALEM COMMUNITY HOSPITAL provides retirement savings benefits through SALEM COMMUNITY HOSPITAL R.N. MATCHING RETIREMENT 403(B) PLAN. Understanding your employer’s contribution structure is essential — it directly affects how quickly your retirement nest egg grows. Below you will find the plan’s average account values and contribution patterns based on publicly filed data.
SALEM COMMUNITY HOSPITAL R.N. MATCHING RETIREMENT 403(B) PLAN Average Participant Retirement Account Value
SALEM COMMUNITY HOSPITAL R.N. MATCHING RETIREMENT 403(B) PLAN Estimated Average Employee Contribution Amount
263,471.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 4,116.00 in SALEM COMMUNITY HOSPITAL R.N. MATCHING RETIREMENT 403(B) PLAN, assuming a 10%* annual return.
* Data are from public filings.
Employer Match in SALEM COMMUNITY HOSPITAL R.N. MATCHING RETIREMENT 403(B) PLAN
An employer match is one of the most valuable benefits in any 401(k) plan — it is essentially free money added to your retirement savings. Your employer contributes additional funds based on a percentage of your own contributions. Missing out on the full match is one of the most common and costly retirement mistakes employees make.
SALEM COMMUNITY HOSPITAL R.N. MATCHING RETIREMENT 403(B) PLAN Total Employer Contribution and Match Rate
SALEM COMMUNITY HOSPITAL R.N. MATCHING RETIREMENT 403(B) PLAN Estimated Average Employer Match
Investing in this additonal $865.00 for 20 years would give you extra $55,413.00, assuming a 10% annual return.
* Data are from public filings.
Are You Leaving Dollars on the Table?
If you are not contributing enough to capture the maximum employer match, you are literally turning down part of your compensation. For many plans, this can mean thousands of dollars per year in lost employer contributions — money that would compound over decades.
Use the policy details and calculator below to find out exactly how much you need to contribute to capture every dollar of employer matching.
SALEM COMMUNITY HOSPITAL R.N. MATCHING RETIREMENT 403(B) PLAN Contribution & Match Policy
SALEM COMMUNITY HOSPITAL R.N. MATCHING RETIREMENT 403(B) PLAN Contribution, Match and Other Plan Policies
- Under the Plan’s provisions, each participant may contribute an amount equal to a dollar amount or percentage not to exceed 100% of compensation as defined by the Plan.
- The Hospital matches 50% of the participant’s elective deferral up to 5% of eligible compensation for the Plan year.
- The Hospital also makes a nonelective contribution equal to 1.6% of a participant’s eligible compensation.
- Participants are immediately 100% vested in their deferrals and contributions rolled over from other qualified defined-benefit or contribution plans, the Hospital matching contribution, plus actual earnings thereon.
- However, vesting in nonelective contributions is based on years of continuous service.
- A participant is 100% vested in the nonelective contributions after three years of credited service.
2025 IRS 401(k) Contribution Limits
The IRS sets annual limits on how much you and your employer can contribute to a 401(k) plan. Knowing these limits helps you maximize tax-advantaged savings. Here are the current limits:
| 2024 | 2025 | |
|---|---|---|
| Employee elective deferrals (pretax + Roth) | $23,000 | $23,500 |
| Employee + employer contributions combined | $69,000 | $70,000 |
| Catch-up contributions (age 50+) | $7,500 | $7,500 |
| Enhanced catch-up (ages 60–63, SECURE 2.0) | N/A | $11,250 |
The power of maxing out: If you contribute the full $23,500 annually for 20 years at a 10% average annual return, you would accumulate approximately $1,505,256. If you can maximize the combined employee+employer limit of $70,000 per year, that grows to roughly $4,480,385 over the same period — more than triple.
Use the 401(k) Savings Calculator to model your specific contribution scenario and see how your savings can grow over time.
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