SAVINGS PLAN OF ENTERGY CORPORATION AND SUBSIDIARIES Contribution & Employer Match

SAVINGS PLAN OF ENTERGY CORPORATION AND SUBSIDIARIES Contribution & Employer Match

ENTERGY CORPORATION provides the following retirement savings benefits to its employees:

SAVINGS PLAN OF ENTERGY CORPORATION AND SUBSIDIARIES Average Participant Retirement Account Value

In 2023, the average participant retirement account value for SAVINGS PLAN OF ENTERGY CORPORATION AND SUBSIDIARIES is $262,297.00

SAVINGS PLAN OF ENTERGY CORPORATION AND SUBSIDIARIES Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for SAVINGS PLAN OF ENTERGY CORPORATION AND SUBSIDIARIES is $7,435.00. 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.
475,862.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 7,435.00 in SAVINGS PLAN OF ENTERGY CORPORATION AND SUBSIDIARIES, 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 SAVINGS PLAN OF ENTERGY CORPORATION AND SUBSIDIARIES

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’.

SAVINGS PLAN OF ENTERGY CORPORATION AND SUBSIDIARIES Total Employer Contribution and Match Rate

In 2023, SAVINGS PLAN OF ENTERGY CORPORATION AND SUBSIDIARIES allocates $53,253,406.00 to match its employees' contributions, providing an employer match rate of 46.13% of their contributions

SAVINGS PLAN OF ENTERGY CORPORATION AND SUBSIDIARIES Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in SAVINGS PLAN OF ENTERGY CORPORATION AND SUBSIDIARIES is approximately $3,649.00
Investing in this additonal $3,649.00 for 20 years would give you extra $233,551.00, assuming a 10% annual return.

SAVINGS PLAN OF ENTERGY CORPORATION AND SUBSIDIARIES Contribution & Match Policy

1. Employee Contribution Rates: Employees can contribute up to a total of 6% of their eligible earnings each pay period, with an option for supplemental contributions up to an additional 44%.

2. Employer Match/Contribution Conditions: The employer matches 100% of the participant’s contributions (up to 6% of regular earnings) for certain non-bargaining employees and 70% for all other participating employees, with the match applicable only to before-tax deferral contributions, Roth contributions, and after-tax contributions that do not exceed 6% of the employee's regular earnings.

3. Vesting Schedule/Eligibility: Participants are fully vested at all times in the total value of their participant account. Eligibility extends to non-bargaining employees of participating employers hired before January 1, 2021, and other employees as specified in applicable collective bargaining agreements.

4. Roth 401(k) Contribution: Yes, the plan allows for Roth contributions.

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