SCHULTE ROTH & ZABEL LLP ASSOCIATES SAVINGS PLAN Contribution & Employer Match
SCHULTE ROTH & ZABEL LLP ASSOCIATES SAVINGS PLAN Contribution & Employer Match
SCHULTE ROTH & ZABEL LLP provides the following retirement savings benefits to its employees:
SCHULTE ROTH & ZABEL LLP ASSOCIATES SAVINGS PLAN Average Participant Retirement Account Value
SCHULTE ROTH & ZABEL LLP ASSOCIATES SAVINGS PLAN Estimated Average Employee Contribution Amount
392,921.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 6,139.00 in SCHULTE ROTH & ZABEL LLP ASSOCIATES SAVINGS 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 SCHULTE ROTH & ZABEL LLP ASSOCIATES SAVINGS 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’.
SCHULTE ROTH & ZABEL LLP ASSOCIATES SAVINGS PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute up to the maximum limit permitted of $20,500 in 2022. If a participant is age 50 or over, they may contribute an additional $6,500 for 2022.
2. Employer Match/Contribution Conditions: The employer does not contribute to the plan.
3. Vesting Schedule/Eligibility: All participant contributions and earnings or losses are immediately fully vested and non-forfeitable. Eligible practicing attorneys can become participants on the first day of the month following their employment and attainment of age 21.
4. Roth 401(k) Contribution: The plan allows Roth (after-tax) contributions.
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