SENIOR LIVING CHOICES OF VIRGINIA, INC. 403(B) PLAN Contribution & Employer Match
How SENIOR LIVING CHOICES OF VIRGINIA, INC. Supports Your Retirement Savings
SENIOR LIVING CHOICES OF VIRGINIA, INC. provides retirement savings benefits through SENIOR LIVING CHOICES OF VIRGINIA, INC. 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.
SENIOR LIVING CHOICES OF VIRGINIA, INC. 403(B) PLAN Average Participant Retirement Account Value
SENIOR LIVING CHOICES OF VIRGINIA, INC. 403(B) PLAN Estimated Average Employee Contribution Amount
70,110.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 1,095.00 in SENIOR LIVING CHOICES OF VIRGINIA, INC. 403(B) PLAN, assuming a 10%* annual return.
* Data are from public filings.
Employer Match in SENIOR LIVING CHOICES OF VIRGINIA, INC. 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.
SENIOR LIVING CHOICES OF VIRGINIA, INC. 403(B) PLAN Total Employer Contribution and Match Rate
SENIOR LIVING CHOICES OF VIRGINIA, INC. 403(B) PLAN Estimated Average Employer Match
Investing in this additonal $398.00 for 20 years would give you extra $25,512.00, 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.
SENIOR LIVING CHOICES OF VIRGINIA, INC. 403(B) PLAN Contribution & Match Policy
SENIOR LIVING CHOICES OF VIRGINIA, INC. 403(B) PLAN Contribution, Match and Other Plan Policies
- Employees may elect to contribute pre-tax dollars to the Plan, through payroll deductions, amounts from 1% to 60% of eligible annual compensation up to $23,000 and $22,500 for 2024 and 2023, respectively.
- Participants who reach age 50 during the calendar year may be eligible to make catch-up contributions up to $7,500 for each of 2024 and 2023 in addition to the IRS limit of $23,000 and $22,500 in 2024 and 2023, all respectively.
- The matching is 100% of the first 3% of income contributed by the employee.
- Participants are immediately vested in their elective deferral contributions and actual earnings thereon.
- Participants are also immediately vested in the employer contribution portion of their accounts, plus actual earnings thereon.
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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